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. This change would allow me the freedom to invest in the world's best performing asset over the last decade, and, further, would place most of my assets in a position that would allow me to invest locally in my community's future. I have invested in Bitcoin since 2013. Overall, I have done very well with my purchases of Bitcoin and GBTC. On the few occasions that I took the risk of speculating on Bitcoin futures I have found that I am not able to outsmart the deep pocket market manipulaters. It just doesn't make sense to me that the SEC is channeling investors towards the purchase of futures, rather than spot prices, which, in my experience, are less subject to volatility and manipulation. Sincerely, Kipp Watson