Mar. 28, 2022
Dear SEC: As a Virginia resident 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 do appreciate the concern about protecting consumers but the stance you’ve taken thus far seems more likely to cause harm than to offer protection. Many consumers don’t fully understand the risks involved in futures markets and the fact that they are much more likely to lose as contracts expire when the contracts are rolled over at additional expense. Spot markets would enable easy purchase, secure custody, and lower expenses. I urge you to please reconsider and act favorably on this request. Sincerely, Douglas E Jessup