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 don't understand why a future-based ETF is okay. I consider futures much more speculative. Grayscale is the largest single bitcoin holder and investors should be able to invest in Bitcoin at bitcoins value. I don't see how there is more risk from any source from a spot etf. I would like to understand why the SEC is against a spot ETF. It does not make any sense to me. Please provide that information to me and approve the spot bitcoin ETF. Sincerely, Marc Sachs