Apr. 11, 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. And to add, I support multiple ETF approvals for multiple cyrptocurrencies that permit direct investment in the coins vs a futures based market. Studies have shown in other markets that futures-based ETFs do not track the underlying assett in returns, but underperform. This is not a service to the public in my view. I prefer the investor get to make the choice between futures or direct ETF investments. I have been following the news on this issue and am confused and a bit dismayed at why this has not been approved already. But, I realize these things take time so it's understandable to a degree. So to conclude, I do support the approval of ETFs that directly buy the cryptocurrency like Bitcoin and others (e.g. ETH). Many thanks for taking my comments. Sincerely, Joseph T Brady Colchester, CT