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. There is no reason why a futures ETF should be allowed but physical spot is not. Decisions like this only reinforce the distrust prevalent in the financial system, and government as a whole. Allowing a spot ETF will help entities invest in BTC while avoiding custodial issues, and allowing true price discovery to remain unmanipulated. In the unprecedented time we live in we should embrace this new technology- many in government see decentralized banking tech as a threat to be squashed, but the reality is that bitcoin is an honest competitor. If legacy system doesn’t like it, the legacy system should DO BETTER. Bitcoin is a lifeboat for millions in a stormy sea of financial uncertainty, we ask that you do not impede on it’s growth. Thank you, Andrew Conley Pinellas county, Florida