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. APPROVE THIS NOW. NO MORE FLAKY EXCUSES PLEASE WE BEG YOU. I reside in Oregon and am an investor in the Grayscale Bitcoin Trust. I feel like the SEC is by denying approval of a Spot ETF de facto supporting banks and hurting retail consumers who demand exposure to a bitcoin spot ETF. Meanwhile around the world American money leaves to invest in spot ETFs in other countries exposing themselves to foreign exchange risk in frustration. Example ARK fund investing in the Canadian Purpose ETF because there isn’t an American one. I am also an investor in ARK funds (all of them) and am frustrated by the unnecessary foreign exchange risk I all exposed to because of the SEC denying these for so many years. I am an experienced investor in the crypto space for over 5 years. I feel my position has been hurt over and over by each denial from the SEC. It seems the SEC has abandoned their mandate of protecting us and us only protecting the banks interests intentionally or otherwise matters not. In Canada the spot ETF sued the regulator claiming their delay protected a Marie industry while there was no basis for the claims denying it were protecting consumers. They succeeded and it was approved, as it should have been in America years ago. These delays drive direct investment offshore, as well as global entrepreneurialprojects and research and development who are witnessing federal regulatory hindrance. Sincerely, Anil Gorania