May. 06, 2022
To Whom it May Concern, As a long-term investor in GBTC, we are LONG overdue for a spot ETF. Grayscale is the premium position to lead the United States as the first company to bring this financial product forward. A spot ETF would greatly reduce the risk for investors that want exposure to bitcoin in more traditional accounts. Currently we are forced to buy companies that hold bitcoin, invest in business with large discount or premium swings, or hold bitcoin on physical devices that can be lost, stolen, or passwords forgotten. A spot ETF greatly reduces the risk to investors and helps the United States remain competitive with the rest of the global financial community that is already a few steps ahead of us in this regard. Daniel Lomax