Mar. 14, 2022
To the SEC, The world wants Bitcoin. The people are realising Bitcoins value. A huge amount of people are invested, whether directly or indirectly, into Bitcoin and cryptocurrencies in general. I, along with just about every other investor of Bitcoin want a Spot ETF. I think it’d allow people that are skeptical of crypto and their exchanges to invest into solely Bitcoin, without the fear of unpredictable loss due to regulation or whatever else and at the same time, provide the opportunity for large funds and strictly trad-fi investors to speculate Bitcoin. It would provide price stability as well. The fact that it was a $2T+ asset is incredible and I’m honestly shocked that such a huge asset with so much use-case has not been approved for this yet. Regardless, if you believe, for some reason, that it should not be accepted, you (the SEC) have provided no reasons, no insight, nothing into why. It’s just constant rejection. Nobody feels protected by your decisions to drag this on for so long by constantly denying every request without valid excuses. It is for these reasons that I fully approve of and request that you accept “GBTC” to become a Spot Bitcoin ETF and as soon as possible. It has gone on too long. Regards, Abdul