Feb. 21, 2022
I support a spot Bitcoin ETF. There seems to be a concern that Bitcoin does not trade on regulated exchanges. However, most bonds don’t trade on ANY exchanges, but rather, trade infrequently between brokers and accounts. The great number of bond ETFs in existence hold bonds that trade informally, off any exchange, and trade infrequently, raising major concerns about price transparency. Compared to bonds, Bitcoin is a deep, efficient, and formal market that results in a fair and unmanipulated price at any given time. Please approve the Grayscale Bitcoin spot ETF so that investors have an additional way to access this large and efficient market. Rachel Phillips