February 16, 2022
To SEC:
As the DOJ recently commented to the recovered stolen $4Billion in Bitcoins from the Bifinex hack, stating, crypto is not a great use for criminals as the transactions are recorded on the blockchain which helped the DOJ track down the criminals. With the transparency in nature, it is in no way more fraudulent as SEC claims than cash. SEC repeated denial for spot Bitcoin ETF is questionable in nature as penny stocks (OTC, Pink Sheets, low float biotech stocks) contains opportunity for manipulation and fraud more so than a spot Bitcoin ETF. Bitcoin is used worldwide on a decentralized basis and cannot be manipulated by one person. Australia, Canada, Europe already as spot ETF, so why deny US investors this opportunity. Please approve Grayscale GBTC to spot ETF to eliminate the 30% discount to NAV (60% discount to NAV for ETCG). Thanks.