Apr. 07, 2022
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. 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. A Bitcoin spot price investment vehicle is much needed to expand direct access for investment to the general public. The fact that derivative future ETF trading is approved but spot price availability is not present promotes risky investment behavior as the current future based investment vehicles that are designed to decay with time. A spot price Bitcoin ETF would counter that oversight and provide the general public access to one of the most important investment opportunities available. This is a theta neutral, long volatility vehicle that is much needed which you do not get with the current futures based option. Sincerely, John Arnot - Colorado