May. 17, 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. As other countries such as Canada and Australia offer institutional and other investors this exposure, I really hope that we can effectively regulate digital assets such as Bitcoin, Ethereum etc. in this country and get this done. I also hope that we can “protect“ uneducated investors while affording the opportunity for educated investors that aren’t wealthy to be able to earn interest on their crypto deposits from companies such as Block Fi and Celsius. If we are really caring about these investors, maybe a test could be made that they could take in order to qualify them? Since they can just go to the corner store and buy lottery tickets, my belief is that with a test that would test their risk knowledge, American investors should be free to pursue these opportunities - and if there should be a clear way that companies like Celsius could qualify to do business while proving that their business model is sound. If we can get this done while making pathways with stablecoins (not CBDC’s!) and the US Dollar so that the dollar can remain the go- to world currency, we will have done a great thing for the continued well being of Americans. With Appreciation, Ben Ben Borkovitz