Jun. 02, 2022
Dear SEC, I write to you today to say that I support the conversion of GBTC and ETHE to ETFs. I would like the opportunity to invest retirement funds into BTC and ETH without having set up a complicated and very expensive self directed IRA. The best current alternative to setting up a self directed IRA would be to invest in an exchanged traded product such as GBTC or BITO. I strongly prefer investing in GBTC since it is backed by real BTC and not BTC derivatives that will not track the price of BTC as well due to roll over and contango, etc. Currently neither product is tracking the price of BTC as well as an ETF backed by spot BTC would or could. That is, the unintended consequence of the SEC's repeated rejection of ETFs backed by spot BTC and other cryptocurrencies is that I will probably not have as much money to retire on as if you did approve one. If you really want to protect me please allow Grayscale to convert GBTC and ETHE to ETFs. Sincerely Erik Volkening Suburbs of Chicago, Il