Apr. 22, 2022
Dear Staff of the Securities Exchange Commission, It is time for the common American to have easy to understand access to Bitcoin at a fair price. That is, it is time for a BTC spot ETF. More specifically, please allow GBTC to convert to an ETF to remove the costly overhead and confusing discount situation. I hold both GBTC and MSTR in order to make an investment allocation in Bitcoin. I briefly tried the Futures ETFs but was not happy with how they behaved with respect to the spot price. I would be much happier with a spot ETF and I would feel much better about recommending that option to friends and family and keep asking me how to get some exposure. I certainly don't want to direct them to the complexity of getting a crypto wallet. More generally, I feel that America is falling behind in this new financial world. Financial opportunities are fleeing America in search of better regulation clarity. This is a new world and an opportunity for the SEC to help lead America in a good direction - without trying to pigeon hole new technology into legacy constructs. Thank you for your consideration. Douglas Arnett Washington State