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 live in Massachusetts and would very much like to see a spot bitcoin ETF approved and available in my brokerage account. The futures-based ETF is an inferior product with tracking error and calendar roll costs. GLD is a single commodity asset spot-based ETF…why is bitcoin different? If the SEC’s broadest mandate is investor protection, why force investors into an inferior product? Sincerely, Geoffrey McNally —————————