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. As multiple other countries approve spot Bitcoin ETFs, it becomes more and more confusing as to why the United States has only approved a Bitcoin futures ETF that represents an inferior investment product for most Americans. Given there is clearly demand from Americans to purchase and own Bitcoin, I fail to see how only approving inferior investment vehicles offers any type of protection. It is also possible that the lack of a spot BTC fund, drives Americans to pursue potentially more risky and complicated methods of purchasing Bitcoin. It is in the best interest of American investors to approve the conversion of GBTC to a spot Bitcoin ETF. Sincerely, Jacob Dexheimer