Feb. 25, 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 am a resident of California, and believe we need a spot Bitcoin ETF for several reasons. First, more interest/volume will reduce volatility unlike a futures ETF. Second, it will provide a pathway for logical SEC regulation. Third, as you know several other countries have approved spot ETFs and the US is being left behind. Whether you like it or not, Bitcoin and crypto are commodities that are trading on unregulated exchanges because the interest currently exists. We have a futures ETF so why not a spot ETF? They are both based on the price of the same underlying asset. Thank you for your time. Sincerely, Anthony Holmes