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. The SEC has already approved a futures based ETF (Symbol: BITO), however, this is an inferior product for average long term investors. Converting GBTC to a spot ETF would PROTECT long term investors from decay of a futures based product and also provide access to the asset class in traditional investment accounts. I hope to see SEC approval of a spot Bitcoin ETF soon, for the benefit of retail investors. Sincerely, Justin Howard