May. 11, 2022
I believe there is no significant reason to impede the conversion of GBTC to an exchange traded fund. The current situation for trading in Bitcoin requires a significant fee for buying or selling Bitcoins directly, thus profiting a few traders and imposing a burden on small shareholders like myself. Allowing the conversion of GBTC to an ETF would reduce this burden and allow a more equitable situation to exist. Bitcoin has established itself as an important medium for financial transactions, reducing the costs and impediments (mainly government imposed) of international currency transactions. I believe having an ETF would allow for greater stability in the volatile market for Bitcoin that exists at present. -- Stuart J. Nelson