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. Spot ETFs are better suited for most retail investors and protects the most investors from risking their capital into much riskier futures market. For simplicity's sake, a spot ETF is easier to understand for most retailers and keeps retail folks away from much complex futures market and its hugh risks. Also a spot ETF can unlock a lot of investment sitting on fences waiting for less risky options, stabilize price of the asset and bring more liquidity further reducing volatility in small volumes. Sincerely, Ashutosh