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 write from Dana Point, California. I've been an investor in the Grayscale Bitcoin Trust (Symbol: GBTC) and the Grayscale Ethereum Trust (Symbol: Ethereum) over the last few years. It's been disheartening to see how the SEC's treated this fund. Watching many other countries out innovate the US in regards to sanctioning a proper spot ETF, has also left a bitter taste in the mouths of many Americans. As a US taxpayer watching the SEC and Chair Gensler reject spot ETFs for the sake of retail protection, while approving futures ETFs in which traditional institutions make giant fees is a huge disservice to the American people. While inflation runs rampant, and the SEC Chair makes educational videos about .05% savings accounts, is just flat out insulting. All while not allowing a proper mechanism for crypto currency investment. Then there's dark pools and huge volatility on tech stocks and 3x leveraged ETFs that have higher betas then many crypto currencies are unrestricted and approved. The shroud of opacity that the SEC brings to financial markets is causing massive distrust in your institution. Please help bring back trust in America and our institutions by doing the right things and approving a BTC ETF. Sincerely, Alexander Holt