May. 16, 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. On the institutional front, investors are excluded due to investment restrictions and regulatory uncertainty, For retail investors who are less tech-savvy, the main hurdles of investing directly into crypto include creating a wallet and trading on exchanges and platforms they are not familiar with. Accessing crypto by investing in an ETF would solve these problems One of the key differences between holding cryptocurrencies versus crypto ETFs is that investors can buy and sell the ETF via a normal bank or broker into existing investment or trading portfolios, You don’t need to create new accounts or wallets to hold the tokens, A spot ETF is the safer option for investors. Sincerely, Thank you, John Notte