Apr. 27, 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. We live in a society where only "Accredited Investors" have access to an expanded universe of investment opportunities. We live in a society where investment opportunities are front run by Wall Street. We now have an investment opportunity for all individuals regardless of income, social status or access to the banking system. Of course, the current avenues of access to Bitcoin for the general public are restricted to cryptocurrency exchanges. These exchanges are subject to hacks and loss of funds. A Spot Bitcoin EFT would increase access and security. We have no problem encouraging the masses to buy lottery tickets, gamble, and incur mountains of credit card debt. Yet somehow, the SEC claims to want to "protect" consumers from potential manipulation of a Spot Bitcoin ETF. While at the same time approving a BTC futures ETF. The SEC's actions to date are full of shameful excuses of protecting the public. I feel the excuses are politically motivated to support the SEC's big bank cronies. The SEC is not elected by the people. Rather appointed by elected officials who are elected by the people. Therefore, the SEC and Gary Gensler in particular should serve the people in a consistent and fair manner. I am a voting citizen living in the state of Illinois and I appreciate the opportunity to have my voice heard. Regards, Kenneth Clark