May. 03, 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. I am a resident if New York and in my opinion, it is clear that investors are actively participating in these markets and there is significant demand for more vehicles for tax efficient accounts to participate in the ecosystem. The current futures based ETF is based off the underlying spot market anyway so forcing investors to use a less efficient vehicle is illogical at best. Thank you for your consideration. Sincerely, Keith Coyne