May. 08, 2022
Dear SEC Division of Trading and Markets, If the mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation, then it remains hypocritical of you to further delay or deny Grayscale's request to convert GBTC into a Bitcoin Spot ETF. I am a shareholder of Grayscale Bitcoin Trust (OTCQX: GBTC) and remained harmed -- not protected -- by your inability or unwillingness to approve GBTC as a spot ETF. Bitcoin is the greatest financial asset ever created. It is fair, unlike the SEC. It is decentralized and distributed, unlike the SEC. It plays by a simple set of programmed rules, unlike the SEC. It is irresponsible of the SEC to errect any barrier that makes it more difficult for investors to obtain. Get out of the way, fulfill your mandate of protecting investors, and approve GBTC as a Bitcoin Spot ETF. Jason Pearce