February 22, 2022
Dear SEC,
Your role is to protect investors and people of US from various risks that comes with investment. I totally believe that spot BTC EFT product has lower risk than good chunk of other investments products available in US market.
GBTC already have a lot of BTC on balance sheet so it will not distort the market if approved to become ETF. Futures ETF that is approved has about 2-3% drag compared to spot price which is basically eating all investors capital forcing them to try to speculate on price VS long term stable holding. On behalf of myself and many others I ask you to approve Spot BTC EFT to give people soundly safe investment opportunity without futures drag loss.
Spot ETF is considered as an \"investment\" when Futures ETF is much more for the speculation where real risk to loose money is very real for investors you made to protect.
Thank you.