Subject: Approve a Grayscale BTC Trust

Mar. 08, 2022



Dear SEC.

I’m writing to support the conversion of Grayscale Bitcoin Trust (GBTC) currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States.

I am a California resident and have been investing in BTC since late 2017. It does not make sense to allow a BTC futures ETF, but not a spot ETF. It is safer for institutions as well as retail investors.

Sincerely,

Rizwan Badar, MD