May. 11, 2022
The Greyscale bitcoin trust (GBTC) is the most trusted and reliable way for one to have exposure to Bitcoin without taking self custody. Allowing spot ETF will only further legitimize greyscale and allow for a wider range of investors to have bitcoin in their portfolios. The SEC has given no rational explanation why a bitcoin spot etf has not been approved while simultaneously approving several futures based etfs that do nothing but assist in price manipulation and enrich brokers and market makers. There are plenty of risky and/or speculative instruments currently available on the market, if you are not “protecting” anyone from those why be so strict about a spot bitcoin etf? Be on the right side of history and approve the grayscale bitcoin trust.