Subject: File No. SR-NYSEArca-2021-90
From: Ben Morgan
Affiliation:

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 currently hold the GBTC via OTC in one of my retirement funds. If I'm not mistaken, the fund has been around for over 10 years. 



I'm a huge crypto fan and have holdings on several crypto exchanges, but I would MUCH rather just invest in crypto via my existing retirement accounts (such as Vanguard, Raymond James, TD Ameritrade).  


It is my understanding that if GBTC were converted to an ETF, it would more closely track the price of Bitcoin, which is what I'm after. 


Ultimately, if I was able to invest in crypto via my traditional retirement and stock broker accounts, I would do so in a heartbeat and would likely abandon most of my exchanges. I think having a spot ETF for Bitcoin would help make that happen for me! 

Sincerely, 
Benjamin Morgan