Apr. 09, 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 of America. It makes no sense that a futures based Bitcoin ETF can trade, but the SEC continues to deny a spot based Bitcoin ETF. Futures based commodity ETFs have a higher carrying cost than physical spot based ETFs. Please approve the conversion!