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. I am a Florida resident, Bitcoin holder & GBTC investor. I do not believe the actions of the SEC have reflected a mission of investor protection. If there had been actual concerns for market manipulation, the futures-based product appears to have done just that. The actual concern seems to be allowing easy access in traditional markets to spot Bitcoin & the upward price pressure that might create. It appears that the SEC’s actions have actually served to manipulate the market unidirectionally, which at this point, after years of delays appears intentional. Further delays & denials are not acceptable. Sincerely, Dr. Michael Seneca