Feb. 24, 2022
Hello, I’m writing in support of the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), to a Spot Bitcoin ETF. I have no interest in trading the futures-based funds that currently exist on the market, and desire to hold the closest thing to the physical asset in my IRA, and the approval of a spot ETF would allow me to do this. In addition, I find it of questionable reason that the SEC refuses to approve this fund “out of the safety of investors.” The SEC has approved a plethora of other instruments, like SPACs, which have allowed defacto to get-rich-quick IPOs at the expense of retail investors. Retail investors should be allowed to purchase whatever investment instruments they wosh, so long as they don’t run afoul of US law, without any interference of a government insisting it knows what’s best for its citizens. I strongly support the conversion of GBTC to a spot ETF, as well as the approval of any other physically-settled crypto ETF under consideration. Sincerely, Kyle Tilev, Denver CO