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. By not converting GBTC to a spot ETF, you harm Americans with IRAs that already have exposure to Bitcoin through GBTC. It is irresponsible not to not allow this conversion given how other countries are approving spot ETFs. This lack of action does not protect Americans, it puts us at a competitive disadvantage. Regulation should not prevent innovation and progress. Please do the right thing. Put Americans first and stop protecting elected officials who seek power not progress. Miles’ Law - “Where you stand, depends on where you sit.” It is time for the SEC to stand up for Americans instead of sitting passively by as inflation threatens the retirement of Americans who have earned the right to a secure future. Sincerely, Erin Stahl