Apr. 22, 2022
Hello, I just wanted to share that approving Grayscales motion to make GBTC an ETF would be a huge step in both the cryptocurrency and financial markets and would prove beneficial to the SEC, Federal Government and all investors. Below is a short list of helpful topics. -It would provide an opportunity to lower the chances of scam in the bitcoin/cryptocurrency market. Grayscale is a trusted financial institution and by being able to buy a spot bitcoin ETF it would provide investors a safe and regulated avenue of purchasing bitcoin. -If GBTC becomes an ETF it is more likely more money would flow into the ETF and the SEC/ government could monitor and regulate the transactions more closely and could increase tax revenue from capital gains from investors. -Making GBTC an ETF would show that the SEC is listening and is willing to look into the value of cryptocurrencies. I hope that this quick summary shows how important it is for the SEC to approve Grayscales GBTC trust into a bitcoin spot ETF. Thank you. Best, Daniel Wines **Full disclosure: I currently hold and invest in GBTC, bitcoin and ethereum**