Mar. 28, 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 currently own a meaningful position in GBTC held at Fidelity in my children’s custodian accounts for their future saving (which has been trading at a significant discount to NAV due to the SEC's unwillingness to approve this ETF). I have also been closely following the full scope of the SEC’s handling of requests for a spot Bitcoin ETF in the US. It appears from my perspective that the SEC has consistently acted unprofessionally and against the interests of the common US investor in basically all of their dealings related to Bitcoin and Cryptocurrency based assets. I’ve personally lost considerable respect for your office and the work supposedly done on behalf of US investors by following the GBTC case. It seems the office needs entirely new leadership and/or restructuring so that you’re not keeping people from access to new innovations on any reasonable timeline as well as driving away many of the new companies whose products could advance US innovation substantially. GBTC SHOULD BE APPROVED AS A SPOT ETF Sincerely, Mario Zazzera, JD, MBA