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. When your markets are full of speculative financial instruments that have massive levels of volatility there is no basis for the argument of claiming to protect investors. Look at even simple equities like Peloton. It is down substantially more than Bitcoin yet you don’t protest or try to protect investors from that? In a free and open society individuals must have sovereignty over their own decisions. It is not a free country or free market if you pick and choose, based on weak arguments and whims, what citizens of the United States, and moreover the world with foreign investment, can invest in. Sincerely, Adam Hoar