Feb. 26, 2022
To whom it may concern, We in the United States are in need of approving a Spot based Bitcoin ETF. Several other countries have proven this model to be successful and is actually a better way for Retail investors to get exposure to an emerging asset class. The basis for not approving a Spot ETF so far the SEC has been to protect Retail investors, but a Spot ETF will allow them the ability to invest through existing retirement accounts rather than worrying about custody, cyber scams and security of the multitude of apps that one can already use to purchase spot Bitcoin. Grayscale is well positioned to provide this service and has already proven to be a good steward for clients looking for an investment grade platform to bitcoin, without having to worry about custody and security. We've seen companies, institutional investors and nation states begin to move into this asset class, not to mention the support of various state, local and national politicians. It is time to let the average American get access in responsible manner via a Spot Bitcoin ETF. Many people I speak with her in Indiana feel the same way. Sincerely, Chad Schwietert