Feb. 22, 2022
Dear Sir or Madam, I am writing to offer my support for Grayscale Bitcoin Trust's (GBTC's) application to convert to a spot ETF. I think it is incumbent on the SEC to support regulated products that allow retail investors to gain exposure to one of the most compelling asset classes of the 21st century (i.e. bitcoin) through an exchange traded product. Failure to do so would be an affront to regular working people in the United States who are just trying to save for retirement. Up until now the explanations that have been offered by the SEC as to why they have not approved a bitcoin spot ETF have been lackluster and don't survive even the bareest of scrutiny. As such, if you want to look like a nonpartisan, expert regulator and not like a political organization that is carrying the water of moneyed interests, then I implore you to support the American people by approving this application and others like it that will enable investors to purchase a spot bitcoin ETF product without delay. Thank you, Michael Leonard