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 have been a shareholder in gbtc for some time, the approval of a futures based etf over a spot based etf seems very hard to grasp from a fiduciary standpoint. If the sec is what it purports to be, an agency which is looking out for the safety of investors, especially on the retail side of the investment coin, then please do the right thing and approve the request to convert gbtc to an etf. A spot based etf will surely be a much better product for the average investor, and the agency’s current position and recurrent denial of spot based etfs by the sec on this matter is nothing short of a dereliction of duty in my humble opinion. Thank you for your consideration. Sincerely, Matthew Ostrom