Mar. 27, 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. There is no good reason this should not have happened already to make investing in bitcoin accessible to the masses. If you are truly about “investor protection” you wouldn’t have approved a futures ETF before spot. The ETF should hold the underlying asset. Grayscale is the largest institutional holder of bitcoin, and their trust should be converted to an ETF immediately to allow more investors access to the highest performing asset over the last decade. Sincerely, Ty Hensley