May. 04, 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. The crypto markets are by now well established, and with a regulated ETF, more citizens can have exposure to the asset class without exposing themselves to the risks of self-custody - this is exactly what the SEC should be here to provide. The danger is not in an ETF, but in allowing people to only be able to purchase on their own and opening themselves up to a world of risk they could avoid with a regulated ETF product. I hope you will make this approval swiftly. I am a resident of New York State. Sincerely, WILLIAM REYNOLDS