May. 06, 2022
To Whom It May Concern at the SEC, I write in support of the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) to an ETF. I understand that this delay has been justified to be for investor protection, but it is clear that this is not the true reason. A futures based Bitcoin ETF was approved months ago and since that time holes have been repeatedly poked in the SEC's logic for not approving a spot ETF. I understand that this delay is, in part, caused by lobbying interests and institutions who are just entering positions hoping to purchase Bitcoin at current prices before it increases in value further. And I do not expect true public honesty and transparency from an organ such as the SEC, but the rest of the world is leaving us behind. Just like the dawn of the internet, moving courageously forward with innovative technology is the only way to stay ahead, otherwise we risk losing our country's dominant position in the frontiers of technology. Thank you for taking this time to read these comments, which are not simply copied into this email. Sincerely, Peter Schiff