May. 28, 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 a long-time GBTC investor who resides in California, I am harmed by the SEC’s decision to allow a futures Bitcoin ETF but not a Spot ETF like Grayscale’s GBTC trust. As of this letter, I am negative 30% of the true value of Bitcoin. I don’t trust a futures product. I want and trust the actual spot price. Please treat investors fairly by allowing for Grayscale’s Spot ETF conversion to protect us through a legal regulated Spot investment product. Thank you for your consideration. Sincerely, Glenn Hom