May. 10, 2022
Dear SEC team, It is imperative that the SEC approves the conversion of GBTC in the interest of the current and future investors. With billions in demand already shown in the product, it would be grossly negligible to force investors to continue to use a high fee, sub optimal structure to complete the allocation they so desire. I’m a CFA portfolio manager and have seen firsthand the retail interest and unfortunate poor outcomes from the wild swings of premium and discount. Merely on the protection angle alone, a low fee, redemption able etf should be considered immediately. Other nations have seen these products come to market successfully and we cannot fall behind in our efforts to compete. A concerned chartered financial analyst, Robert Scholes, CFA, CFP -- Robby Scholes