Mar. 09, 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. Such a move would allow investors greater options for exposure to bitcoin, something the market clearly desires. The argument that a spot etf should not exist due to volatility does not make sense. There are plenty of highly volatile assets, even manipulated assets, that the SEC allows to be traded. It is my view that the bitcoin market has matured to the point that a spot etf makes sense and will actually help those that choose to invest in bitcoin to have the safest possible way to do so. Sincerely, Jason Hays