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. American investors should have the ability to hold a Spot ETF in their retirement and trading accounts. It is preferable over a futures etf or the 2% tax on the current gbtc structure. A Bitcoin spot etf is already available in Canada, and Europe. The SEC claims to be about small investor protection, but they are only protecting the interests of Wall Street and their guaranteed arbitrage profits. Wall Street is so woefully far behind in offering legitimate crypto products it is apparent that the SEC is doing its best to handicap the entire crypto industry. It’s time to allow Americans to join in the opportunities of the 21st Century and stop creating fear of innovation and the future. The time is now. Sincerely, Vishal Bamba California