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 world is leaving the US behind regarding spot Bitcoin ETFs. Futures-based ETFs are not appropriate investments for buy-and-hold investors, and these derivative products divert demand from actual bitcoin. Your job is to protect individual investors, not Wall Street traders. Sincerely, Lee Hendricks