Feb. 22, 2022
Dear U.S. Securities and Exchange Commission: I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to a Spot Bitcoin ETF. To allow a Futures ETF and not a Spot is moronic and unfounded. They’re price is derived from the same source. This shows clear favoritism to institutional traders and protects no one. You’re job is to protect investors from bad actors, not dictate what has value. Furthermore, a Spot ETF is superior in every aspect over the current trust wrapper. If you care about investors, then please show it by quit arbitrating your opinion over law. Sincerely, Spencer Werres, CFP®