May. 06, 2022
I want to be invested in bitcoin in my retirement account. Currently I do that with GBTC, but the discount to NAV is poor. Allowing GBTC to convert to a physical ETF will help everyday people like me have access to a more efficient product, with a valuation closer to NAV and lower fees. To deny this conversion on the grounds of "investor protection" would be dubious at best. Those invested in GBTC have already accepted the volatility. Besides, there are more dangerous and volatile investments that are allowed. Thank you for considering, James