May. 11, 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. My name is Terry Tate, a U.S citizen who was born and raised in a small town in North Carolina. I am completely for allowing a Spot Bitcoin ETF. I understand the risks involved in investing in certain assets and I feel as though I should be able to do so as I please with the money I have earned. I believe more harm is done to people and their investments by allowing Bitcoin Futures ETF's and any other type of derivative. The fact that institusions are allowed to manipulate the Bitcoin price while not even holding the actual asset is a travesty. I believe there is no reason to have derivatives nor futures contracts in any markets. They do more harm than good. Since it is a fact that there is Bitcoin Futures trading, I see no reason at all not to allow a Spot Bitcoin ETF. Please allow the conversion of the GBTC into a Bitcoin Spot ETF. It would be greatly appreciated. Sincerely, Terry Tate