Feb. 24, 2022
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. As a US citizen, gaining exposure to bitcoin has been traditionally very hard. Many interested in exposure to this asset class have used GBTC due to it's deposit nature, fully collateralized fund. It is disappointing that while the rest of the world moves forward with spot ETFs giving investors protection against debased currency, those in the US are forced to use different financial platforms and products to achieve this goal. If the purpose of the SEC is to protect investors, they should stop sending them underground or across borders. Manipulation is / will / has happened in every market at all levels. With bitcoin there are many markets worldwide all trading in native currencies - 24 hours a day, 7 days a week. This inherently makes manipulation much harder than something like OTC stocks. wake up, jim