Feb. 22, 2022
To Whom it May Concern, I would like to see GBTC converted to a Spot Bitcoin ETF. It makes no sense that a Futures Based ETF is allowed by the Commission but a Spot ETF is not. The SEC is not protecting investors in this matter, rather you are keeping the average investor from being able to easily access exposure to spot Bitcoin. Futures are extraordinarily expensive and confusing for the average investor as they don't understand the cost inherent in rolling futures contracts. Please consider allowing GBTC to convert to a Spot Bitcoin ETF. Investors will continue to demand this until it is approved. Sincerely, Chris Rehberger