Subject: File No. SR-NYSEArca-2021-90
From: Abbigail E. Webb, Esq.
Affiliation:

May. 10, 2022

Dear SEC,

I am writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to the first Spot Bitcoin ETF.

I am an attorney residing in the state of Florida. You have permitted a Bitcoin futures ETF and you have permitted gold spot ETFs. Bitcoin is digital property in the same way that gold is physical property, and should be allowed the similar treatment.

Bitcoin is very different from other cryptocurrencies and should not be considered the same. It provides much lower risk. Bitcoin is truly decentralized because there is no company or organization running it and making decisions top down.

Investors are looking for ways to gain Bitcoin exposure through traditional channels. As long as GBTC is safely custodying the underlying Bitcoin, this is a way to provide investors with more options.

Also, the United States has an opportunity to become a leader in this new technology. Preventing this spot ETF would have the effect of stymieing innovation in the U.S.

Sincerely,
Abbigail Webb



Abbigail E. Webb, Esq.