May. 16, 2022
Hi there. I am sending correspondence in SUPPORT of converting the Grayscale Bitcoin Trust (GBTC) to an ETF. We currently have vert few options to invest in Bitcoin in many accounts and although BITO is available, it is very inefficient is investors will suffer contango as the ETF sells the short dated contracts and has to buy the longer dated contracts. Secondly, it would not be limited to the CME contract limitations. Many people are interested in investing in Bitcoin and I would rather there be a safer investment vehicle for them to invest in than a Coinbase or some other exchange that requires people to know not to click other links, etc……thereby providing a pool of “newbies” that scammers and hackers can try and take advantage of. Feel free to let me know if any questions, etc……..I am invested in both GBTC and BITO. Thanks. Dan Larsen