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. If the idea behind your Commission is to support the safety of the retail public, approving a bitcoin ETF will go along way towards doing that. I cite as an example the recent hack of IRA Financial trust , a custodian for retail investors who want to establish a self-directed IRA to own spot bitcoin. IRA Financial trust was recently hacked and approximately $50 million of retail investors IRA funds were stolen and not recoverable. Approving a bitcoin ETF will go along way towards protecting retail investors from such horrific hacking events by allowing retail investors to directly invest in bitcoin without having to establish complex custodial arrangements which open hacking attack vectors. Please pass the rules necessary to allow for a bit bitcoin ETF as soon as possible. thank you. Sincerely, Gerard Gjertsen Connecticut resident