Feb. 22, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. Over the past few years, it has become clear that cryptocurrency is here to stay. Institutions have the access and power to invest in any asset, but smaller investors such as myself have fewer options to invest in cryptocurrency. The availability of a true Bitcoin or Ethereum ETF that tracks the spot price of these assets would not only be an excellent long-term investment vehicle, but would be far more safe and reliable as compared to assets available in today's stock market, such as GBTC, ETHE, and BITO. The SEC should protect the interests of individual investors, and better cryptocurrency assets such as spot price ETFs would go a long way toward serving that goal. Sincerely, Sadiq Ansari