Subject: File No. SR-NYSEArca-2021-90
From: Andy Kulis
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. 

I'm a Wisconsinite and I have always had a great interest in the stock market, starting way back when I was a little boy. I'm mostly self-taught and what I didn't learn on my own, I learned from my father. 


People are going to invest in Bitcoin, no way around it. So why wouldn't the government give us a better channel to do so? Owning pure Bitcoin is fantastic but it's not for the majority of people out there. If families can buy some to hedge or long term invest, doing so through an ETF is crucial. Bitcoin is volatile and I believe it's no worse than a lot of investment vehicles already SEC approved and in the wild. There are a lot of shady securities out there and a lot of shady folks cheating to trade them. What do those securities have that Bitcoin doesn't? Accounting books and individuals that can be manipulated and adjusted. Bitcoin is the next advancement of our accounting system - an immutable ledger that can't be changed or corrupted or influenced or manipulated. I want to own a piece of that in my IRA. Not a futures ETF. I want a spot option. 


If you're afraid people will get hurt trading Bitcoin and lose lots of money, why not invest in a basic investment education program, taught by Gensler maybe, that citizens in the US can access. Perhaps post it on YouTube. These are different times and our government needs to learn to adjust. 

Thanks for your time, 

Andy Kulis