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 a shareholder of GBTC, I feel that SEC is doing a disservice to current and future investors who wants Bitcoin exposure in their portfolio. Bitcoin is digital gold and should be treated just like physical gold and financial instruments like GLD etf. By not giving the public this option, I believe it's unconstitutional as other democratic countries like Canada have already approved a number of Bitcoin ETFs. Investors should be freed to invest in this digital asset as it holds tangible value such as gold and other physical assets and commodities. By delaying this option for Americans, we are acting as an authoritarian and not as a freed country where people voices are heard and where true and just capitalism are championed. Sincerely, Chuck Ngan