Feb. 22, 2022
To whom it may concern, I respectfully request that you approve the request of Grayscale to convert GBTC to an ETF. The GBTC vehicle holds nearly 3.5% of the liquid supply of Bitcoin according to Bloomberg. That vehicle should offer physical settlement in BTC. Bitcoin ETFs already exist in countries such as Canada. A futures ETF exists within the US that was approved. Investors such as myself, want exposure to actual Bitcoin, not derivatives. A spot ETF should exist alongside the futures ETF. Sincerely, Joshua Burman Portland, OR