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. There are millions of investors currently invested into crypto currency. However, the government refuses to allow the will of the people (a spot BT ETF). Bringing a spot ETF would allow many more millions access to this revolutionary technology. Also, it would help stabilize the prices of the underlying assets by having huge reserves tied to the ETF. Grayscale currently has the assets to do this, yet political posturing and games stop this from happening. This is the UNITED STATES OF AMERICA, if the people will it, then that’s should be. Stop trying to control decentralized protocols into your political games by making statements saying that full tracking of transactions by both the exchanges and ETF holder would be required for approval. You’re only turning more and more Americans away from you and in turn they are realizing that you do not protect investors - you subjugate investors to your will. Pressing this further will only hinder the USA in global standing as other nations adopt this. You’re turning the entrepreneurs of the future away from this country. Stop hindering progress and start performing your duty to the public. You are PUBLIC servants. Enough with the games. Crypto investors want an ETF. Allow grayscale (a large, publicly traded company) to move forward with this. Regards, Pedro Rodrigues