Feb. 22, 2022
Dear SEC, I’m writing to support the conversion of the Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. I live in the mountains of Western North Carolina & have been investing in stocks, bonds, & options for over 40 years. For the last 3 years, I have added cryptocurrencies to my portfolio. It is a disservice to me and all investors that the SEC has not allowed a spot bitcoin ETF in the United States despite the widespread and mainstream adoption of cryptocurrency as an investment. Only allowing futures-based ETFs for investing in cryptocurrency only lines the pockets of another layer in the investment world and is keeping real, measurable, & trackable investment tools out of the hands of both large AND small investors like me. It also prevents fair & transparent valuation of ETF’s causing them to often be priced at premiums or discounts to their actual value. Please immediately approve Grayscale’s request to convert GBTC to a spot Bitcoin ETF. Sincerely, Carl Caudle Father & Small investor