Apr. 22, 2022
To SEC representative, I support the conversion of the Grayscale Bitcoin Trust to an ETF structure based on the spot price of Bitcoin. The current BTC futures price ETF is an abomination and only serves its Wall Street masters so they can manipulate the spot price at the expense of the retail investor you are supposed to be representing and protecting. A spot price BTC etf product would level the playing field and give retail and institutional investors equal access to Bitcoin, which over time would reduce its volatility. I hope you will finally make the right decision and allow Greyscale to convert its BTC trust into a spot priced ETF. Thank you for your consideration.