May. 06, 2022
To whom it may concern, I am a shareholder of GBTC and am writing to ask that you allow the conversion of GBTC to a spot ETF this July. It has been a wonderful vehicle for me to invest my retirement account into; however, the management fees are high (Grayscale has committed to reducing them upon conversion) and the asset trades at a significant discount to NAV. This is, in my opinion, doing a great disservice to shareholders, not allowing them to realize true value for their investment....at the same time, there are (and should be) zero restrictions for investors to purchase spot Bitcoin on the open market via private investment accounts. Quite the disconnect. I sincerely ask that you please allow this to pass for those of us who use this product to diversify our retirement portfolios. Thank you. Yours, Brent Clarke