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. At a time where people need it the most, a Bitcoin ETF makes too much sense. Classic tech stocks are trading more volatile than cryptocurrencies. The market is in a wicked downtrend. We can only hope that the Fed gets inflation and interest rates under wraps. A bitcoin ETF offers relief to the entire nation and offers a chance for Americans to recoup retirement funds and investments. You may say it’s easily manipulated, but I would implore you to look at recent stock manipulations and really ask yourself if that’s a valid reason to deny. It would also present badly needed relief to a bleeding market and set up the future stage for the biggest emerging asset class. Sincerely, Matthew Sciascia