Apr. 22, 2022
My Dearest Friends at the SEC, I'm writing from Pennsylvania as a GBTC shareholder. I'd like to express my full-throated support for the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) to an ETF. As an American of average means, I choose my financial investments very carefully and only after thorough research. Using one of the greatest tools available to ordinary citizens to build long-term wealth—a tax-advantaged retirement account—my investment of choice is not available as an ETF. A spot ETF for Bitcoin would allow me to participate in this asset class in a safe and regulated manner. Whereas now, to purchase and self-custody Bitcoin takes on what seems to me like unnecessary risk. I struggle to understand why the everyday American is trusted to literally gamble their money away at a casino, but a spot ETF is not available for someone who wants to take agency over their financial future and make an informed decision on the asset class they wish to invest in. Thanks for your time, Brian Adoff