Mar. 19, 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. I own shares of the GBTC trust and I want to hold them long term. An ETF is a far better vehicle than a trust and eliminates the problem of premiums and discounts. I know the SEC protects investors and has rejected previous bitcoin etf proposals based on safety issues. If the SEC has safety requirements to implement a spot bitcoin ETF it should list them clearly and require that spot bitcoin proposals comply with them rather than rejecting bitcoin etf proposals based on individual safety issues. Sincerely, François Moreau