Feb. 22, 2022
Hello, I would like to voice my support for a change in GBTC to a spot-based ETF. The current set of products to enable investor exposure to a new asset class like bitcoin result in less safety and accurate pricing for US-based investors. Many other developed markets such as Austria and Canada have spot-based ETFs. The market for bitcoin has become incredibly developed over the last several years, trading 24/7 with penny-wide spreads. As a sophisticated US-based retail investor, I implore you to strongly consider protecting investors and providing the products they desire by approving the conversion of GBTC to a spot-ETF. This will prevent the current mis-pricing of GBTC while giving investors exposure in a safe and secure way, into a trillion-dollar, proven asset class. Best regards, Phil -- Phillip Bonarigo