May. 06, 2022
Dear SEC, I am writing to you as a shareholder of GBTC. Please note that many investors like me have stocks and options trading experience of over 40 years, but do not trade futures for our own personal reason. To approve futures-backed Bitcoin ETFs, but not spot Bitcoin ETFs makes very little sense for young and small investors are already buying Bitcoin on Robinhood, Sofi, etc., at a much higher commission. I understand that you are trying to protect us. But, protect us of what? In fact, Bitcoin is a very liquid investment and your protection is costing us about 25% of our value invested in GBTC. Also, investors like us in many other Western countries can already trade in Bitcoin ETF -- like BTCC in Canada. So, kindly reconsider. And, thank you for this opportunity to express my view. Sincerely, Ravi Jaisinghani Houston, Texas May 6, 2022