Feb. 22, 2022
Grayscale Bitcoin Trust (GBTC) should be granted approval to convert to an ETF as it will create more options for investors get exposure to bitcoin without the dangers of self-custody, working with exchanges, and risks of losing coins. I have used Grayscale products (GBTC) for several years to get exposure to the asset class in my retirement assets. When the trust flipped from premium to discount, investors like myself feel unprotected because of the discount that is hovering around 25%- 30%. That said, trading at NAV would be more fair to investors to get true exposure to the asset rather than the Futures based ETF. A year ago GBTC share were overvalued, now their shares are undervalued compared to the bitcoin price. A spot ETF would provide more fairness for investors going forward by eliminating an unrelated variable to the core asset. As an investor I just ask for the SEC to help all the bag holders of GBTC like myself be allowing a spot ETF and eliminate any discount. Thanks Eduardo Zanatti