May. 10, 2022
I’m at writing in regards to the grayscale Bitcoin trust (GBTC) and it’s conversion to a spot ETF. I am an investor in GBTC and I feel it is the SEC’s responsibility to approve a conversion of GBTC to a spot etf to protect investors like myself. Preventing a spot Bitcoin etf from existing hurts investors like me because we have to invest in an asset at unfairly discounted or premium level prices to market prices because it is the only equity option on the market that is actually backed by BItcoin. I don’t feel comfortable or safe investing in a futures Bitcoin etf. I am a highly experienced and educated investor and feel it should be my decision whether or not to invest in a spot bitcoin etf, not the SEC’s responsibility to prevent me from choosing how I can and cannot invest my hard earned money. Thank you, William Bello