Mar. 11, 2022
Dear SEC, I am in favor of allowing the conversion of Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF. A Bitcoin ETF is appropriate and desirable for all parties concerned. Bitcoin now has a $700B or so market cap and it has consistently gained more or more investor appeal - from individuals and institutions. An ETF would make the process of investing in Bitcoin much easier and safer for investors than current options. A Bitcoin ETF is also beneficial from a regulatory and tax compliance perspective as well. I am a 62 year old North Carolina resident and longtime investor. K.C. Reid