May. 06, 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. A Spot Bitcoin ETF would allow investors like me to: Diversify my investment portfolio into the world's most popular cryptocurrency Invest in a product that directly tracks the price of Bitcoin without having to hold Bitcoin Own Bitcoin in the same way I own many other investable assets Additional thoughts: By not approving a spot Bitcoin ETF, the SEC is forcing everyday investors to choose expensive and inefficient options for this investment exposure. Approving a spot Bitcoin ETF protects investors, it does not harm them. I am a resident of the state of New York. Sincerely, Shaun O'Hanlon