Subject: File No. SR-NYSEArca-2021-90
From: Grant Carstensen
Affiliation:

May 12, 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 is no reason why a futures ETF can exist but a spot ETF cannot. If it were about perceived risk of bitcoin as an asset the futures ETF would not have been approved.

Sincerely,

Grant Carstensen