Feb. 23, 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. The approval of an American SPOT ETF would allow greater security in the overall Bitcoin market allowing larger institutions such as pension funds, individuals and the like to obtain exposure without the risk of being a self custodian. I have been investing in crypto for years and I have seen many instances where persons have lost significant amounts of money through loss of personal keys. With a spot ETF, persons can obtain exposure to this revolutionary investment opportunity without taking on the risk of being a self custodian and do so through legacy investment rails like standard retirement and investment accounts. Sincerely, Benjamin Escobedo Grayscale Investor since 2020