May 21, 2022
Dear SEC, I am 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 investors, we are currently allowed to invest in highly speculative, levered ETFs. A Bitcoin Futures ETF is an inferior product and comes with risk as well. Grayscale has been a pioneer in the Bitcoin space and deserves to be the first Spot Bitcoin ETF. If the concern is protecting investors, approving this ETF would be the greatest protection the SEC could provide. Sincerely, Alex Piche