Feb. 23, 2022
I'm writing to express my support for the conversion of GBTC (Grayscale Bitcoin Trust) to the first Spot Bitcoin ETF in the USA. I'm a nearly 60 year old self employed grandmother, currently living in the pacific northwest and hold GBTC within my Roth IRA, SEP IRA, and HSA (along with other stocks and funds). I understand the SEC's job is to protect investors. Approving the spot EFT would make GBTC a much safer investment, bringing much more stability to my (and others) retirement accounts. It would reduce management fees for investors, and allow our investment to track more effectively with the actual Bitcoin price. Since you already approved the Bitcoin futures EFT, which is a far riskier investment, it makes no sense that the spot EFT would not be approved - especially if the goal is to protect investors. Please approve the application for GBTC to convert to a spot ETF (as soon as possible). Thank you in advance, Allison Hays