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. Other countries have already approved a spot BTC etf… which means we are falling behind. Multiple future BTC etf have been approved which to me seems backwards. Given that future only allow for more sophisticated investors to invest. With recent market volatility with even equities, the volatility argument no longer holds with trying to protect consumers. BTC markets are 24/7 which over time gives it better price discovery and market making capabilities. As the USA stand on its values of being a leading nation especially in tech… it’s only right we adopt this incredible protocol created to help hedge against the corrupt financial system that we live in today. Also one of the biggest Marco investor of our time see the value and staying power… including one of the biggest 401k provides Fidelity…. Something that is slowly becoming a huge problem with inflation worries. As a citizen of the free world I’m urging our great leaders to act now to keep what we build intact and give our younger generations the same opportunities that others have had when we embracing system that improve our current outcomes. This is no different than the internet, cars, trains and electricity! Sincerely, Wesley Lally