Mar. 03, 2022
Dear Chairman Genzler, 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 The bitcoin free market has matured to a level where the SEC’s prior concerns are no longer valid. The commission has no basis for the position that investing in the derivatives market for an asset is acceptable for investors while investing in the asset itself is not. By recently permitting the listing of multiple Bitcoin futures based ETP’s, and denying an ETP based on spot price, the commission is electing to enforce disparate treatment of a futures versus spot based ETP. I respectfully request that the commission approve NYSE Arca’s proposal to list and trade the Greyscale Bitcoin Trust (BTC) Sincerely, Maurice Schutte Mo Schutte