Feb. 22, 2022
Dear SEC, I respectfully request you to allow 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. Countries like Canada has implemented spot bitcoin ETF. We all can agree that it’s a volatile product but that shouldn’t stop it from trading. There are penny stocks, OTC stocks, options, etc., and some are more volatile than bitcoin. Bitcoin has come a long way and it has demonstrated its utility. People who believe in advantages of bitcoin be allowed to invest in a product that’s truly representative. It doesn’t make sense why conversion is an issue when the current product doesn’t reflect the market value of bitcoin. Sincerely, Kamal Kannan, PhD