Feb. 24, 2022
To Whom It May Concern: The Grayscale Bitcoin Trust (GBTC) has been publicly traded since 2013. The fact that there is still not one approved ETF that directly tracks a cryptocurrency's price is absurd. Investors can participate in the market based on trade futures but not on an ETF that tracks a product directly...how does that make sense? SEC rulings regarding cryptocurrency-related ETFs have been inconsistent, mired in political nonsense and are counterproductive to a free market and the stated goals of the SEC. Protecting investors from scams or unscrupulous practices does not mean rejecting every ETF application. Respect the rights of individual investors to choose which legitimate and established funds they want to purchase and approve the conversion of GBTC to an ETF. This will not only provide better value for investors but also greater transparency, better investor comprehension, and consistency in regulatory policy. -- Matthew Pecukonis Business owner and Private investor