May. 02, 2022
I am a financial advisor and a Certified Financial Plannerᵀᴹ with over 10 years of experience. I believe GBTC should be able to convert into an ETF. The market needs a way for safe and convenient access to investing in bitcoin. The current product BITO uses bitcoin futures and comes with high fees and roll costs. Clients, especially non-technologically savvy ones, shouldn't have to open a separate kind of account on new platforms to get access. This opens them up to misplacing keys and falling for scams. It is time for a spot bitcoin etf and the $24 billion Grayscale Bitcoin Trust is the right one to start with. Thank you, -- Mike Lambrakis, CFP®