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. Given the success of spot ETF's in Canada and other jurisdictions, it appears evident that the concerns which originally prevented approval of spot ETF's for Bitcoin due to market risk have been addressed. Those vehicles (particularly the Canadian ETF) have been exposed to your theoretical risk vectors raised previously without incident. There is sufficient liquidity in those offerings that were they vulnerable to manipulation we would already be seeing that exploited in the market. We don't. Please get this done so that the market can move forward productively here in the US without lagging behind other jurisdictions. Sincerely, Kirk Eisele Utah