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. Please allow the conversion of GBTC to an ETF, which will not only reverse the discount, but may reduce the fee as well, and allow so many more people/institutions to gain bitcoin exposure in the market. I know the SEC is simply trying to maintain investor protections, but having see the insanity that has taken place in the stock market (meme stocks and SPACs especially - seriously SPACs are enough to make anyone distrust the market, I can't believe there hasn't been more implementation of rules regarding this shell junk!) It is hard to feel that as an investor, I am being looked out for with the perpetual issue of bankrupt Co. Shares (Hertz-seriously a 500 mil 2nd offering after bankruptcy???) and SPACs (DWAC-again, are you kidding me with this junk???) Bitcoin is not a security. There is no effort by management to gain a profit. It is a commodity that is changing the world for the better. Just as there are gold, oil, etc. Etf's, there should be a bitcoin etf as well. Sincerely, Anonymous