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. A Bitcoin spot ETF is long overdue in the United States. I’ve been a GBTC investor since July 2020. I invested there so I could participate in BTC within the context of my IRA’s, even though I was paying a high premium for that access. In my opinion, a spot ETF should have been approved before a futures ETF if stability and protection for the investor was the goal. Bitcoin is volatile, as every investor in that asset should know, but the futures ETF has made that much worse for long term holders like me, at least from my perspective. Please get after it and approve Grayscale’s spot ETF application. It’s time for a degree of stability to return to Bitcoin investing for long term holders like myself. Give us access to Bitcoin without the high premiums we now pay and get the Market price in line with the NAV. There is no reason good to delay. Respectfully, Danielslaker Anchorage, Alaska