Feb. 22, 2022
To Whom It May Concern, As a retail investor I strongly urge you to approve the request from Grayscale to convert the GBTC Bitcoin Trust to a Bitcoin Spot ETF. This type of product would be much more friendly and easier to understand than the Bitcoin futures ETFs that have been approved. Bitcoin is now a huge asset that is traded on the world stage and other countries have approved spot ETFs with Bitcoin as the underlying asset. I feel it us unreasonable to limit investors in the United States to a more complex high-risk product when a much less complex product has been proposed from a reliable source that has proven the ability to manage the product as Grayscale has. Please approve this product allowing Grayscale to improve the existing trust by lowering management fees and reducing the swings of premium or discount to spot that we currently see in the GBTC product. This will also allow more US citizens to invest their money at home rather than going abroad to invest in the products they prefer to use. I understand that Bitcoin and other cryptocurrencies are high-risk and highly volatile investment options. It is my right to choose where and how to invest my money. I do not want you to protect me from risk by limiting my options. I ask that you approve this spot ETF to provide a trusted company to offer this product with reasonable disclosures and oversight improving my available options. Thank you for your time and consideration. Regards, Scott Allen