Subject: File No. SR-NYSEArca-2021-90
From: Paul Frederick
Affiliation:

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. 

To date, the SEC has only permitted Bitcoin Futures ETFs, while rejecting “physically-backed” or Spot Bitcoin ETFs. This disadvantage is the little guy

Sincerely, 
Paul Frederick