May. 08, 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 would like to buy a spot etf and own bitcoin as a security rather than property because big brokerage firms allow easy borrowing against securities and they don’t currently allow borrowing against bitcoin (as property). Schwab is one example. Please help make a spot etf available for people like me. I am a resident of California. Sincerely, Stephen Belcher