February 14, 2022
Own GBTC in a ROTH IRA. Wanted Bitcoin exposure for qualified money. Today its trading at a 25% discount to NAV. As an investor I dont feel Im being protected by the SEC, but shafted to the tune of 25%. Not allowing GBTC to convert to a spot ETF is harming hundreds of thousands of retail investors, not protecting them. Other countries have approved spot Bitcoin ETFs. The SEC has approved a BTC futures ETF. Its past time for the SEC to approve the GBTC ETF conversion and stop harming investors and the country by outsourcing capital to foreign countries where spot BTC ETFs are already trading and approved by regulators.