Mar. 07, 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. Once again the SEC has chosen large investors over small investors, by approving a futures Bitcoin ETF but not a spot Bitcoin ETF. To enable large investors the additional leverage through futures, punishes the small investors who do not trade in the futures markets. Sincerely, Jonathan Heitner