May. 10, 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. As an investor, I am well aware of the risks I take. I believe spot ETF’s will help the crypto market mature quicker rather than the futures ETF. Those comes with a much higher risk during volatility. Additionally, I am not sure who the SEC is protecting, but if investors are yearning for a spot ETF, then the SEC should approve. If the SEC really wants to protect, then help with providing support to combat scammers, rug-pulls etc. I currently reside in North Carolina and would love to see more spot ETF’s and less futures ETF’s as more people would lose much more than a spot. Ultimately, stock exchange markets are just as volatile as crypto. Yet, there are copious amount of physically backed ETF’s. Also, do not attempt to over-regulate as most of the new technology will travel to more crypto friendly countries and the United States will lose the arms race. Crypto is also a means to help bridge the gap between the lower and upper class, so approve the spot ETF’s and let’s get on with it! Sincerely, Anders Caratozzolo