Apr. 22, 2022
Dear SEC, I write to you today in support of 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. I believe there is more cause to allow GBTC to convert to an ETF than there is to block it from conversion. I currently hold GBTC as a section in my portfolio and plan to add more once the conversion is finally allowed. Bitcoin and crypto/blockchain technologies are here to stay and their legitimacy is already cemented despite the previously-warranted skepticism that surrounded them during their infancy. I feel like denying conversion of GBTC to a Spot Bitcoin ETF will actually cause our country to lose our competitive advantage in world markets, which is something that the SEC should be concerned about. Other countries such as Canada and Australia already have Bitcoin Spot ETFs, yet those of us here in America still wait patiently while losing/missing out. Blocking GBTC from converting to a Bitcoin Spot ETF is, in my opinion, contradictory to the SEC's mission of maintaining fair and efficient markets. I reside in Colorado and I appreciate your attention to this matter. Sincerely, Roland Haas