Subject: File No. SR-NYSEArca-2021-90
From: David Binkowski
Affiliation:

Apr. 22, 2022

 



I would like to see GBTC convert to an ETF so that it more accurately tracks the price of the underlying asset 
it is invested in. I do not like the performance sapping that occurs with FUTURES based ETF's and I do not 
like the fact that the current Trust is subject to such distortions around Premiums and Discounts. If this were 
a Physically backed ETF it would be a much more level playing field and you would know what you are getting 
when you buy GBTC. 




David C. Binkowski 
Senior Software Engineer