Mar. 21, 2022
To whom it may concern at the 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. GBTC is positioned differently than all the other Bitcoin ETFs submitted in the past few years and that fund already has a healthy, compliant relationship with the SEC. I've been hoping for a Bitcoin ETF for quite a while, so if you must reject this entrant please be clear about your reasoning and requirements. It is unreasonable for so many applicants to be rejected from this process without a solution or a post-mortem of the review process. There's a very clear, rising number of Americans who want a Bitcoin ETF and seemingly very few who don't, so again, please be productive in this process, even if you must reject the application of GBTC to become the first Bitcoin ETF. Sincerely, Sheldon Dearr Digital asset advocate and security solution engineer