May 12, 2022
As a GBTC shareholder, and as a direct holder of bitcoin, I am writing to express my support for converting GBTC to an ETC. BTC is now a part of global financial system. But the unique nature of this asset makes directly holding it difficult for many investors. Anybody can buy gold and store it somewhere safe, but only technically sophisticated investors can buy Bitcoin and hold it safely in a hardware wallet. There are other options for custodial ownership of bitcoin, such as holding it on an cryptocurrency exchange such as Coinbase. But the safest, cheapest, easiest method for the average investor will be an ETF. A bitcoin ETF can only benefit individual investors, in the face of alternatives that exist today.