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. For many investors, GBTC is the easiest way to get Bitcoin exposure, unfortunately the premium/discount doesn't accurately reflect the underlying asset. This would be fixed by a spot ETF. Many other countries have already surpassed America in this step. Authorizing a futures ETF and not a spot one is a great disservice to investors who want direct exposure over price speculation. Sincerely, Ralph