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. I trust that you believe you have the best interest of the public in mind when making decisions that affect financial markets. The problem is that as a central bureaucracy you have no ability to know or understand the values, goals and priorities of each individual that makes up that marketplace. Therefore, without fail your decisions will result in winners and losers. In this case, those of us who wish to invest in cryptocurrency through the vehicle of an ETF are forced to purchase a subpar product (the trust) which has higher fees and does not always track with the actual spot price of the crypto. From a moral and from a constitutional standpoint you should not have the authority to make these decisions. I hope you will recognize this and allow Grayscale the opportunity to provide the best product it can for its customers while simultaneously giving me the respect I deserve as a human being to make my own financial decisions. Sincerely, Joshua Berkowitz, MD