May. 10, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to a Spot Bitcoin ETF in the United States. Approval of a Bitcoin spot ETF is far overdue at this point. Honestly, I cannot believe how long this is taking given that the futures product is actually more harmful to the average investor vs. spot, yet a Spot ETF is not approved but the futures product is. Seems backwards. Not only that, but the fact that several other countries have a spot ETF yet the US does not, you are now incentivizing offshore investment rather than keeping those investments here at home. Do the right thing and allow the conversion. Sincerely, US Patriot and investor