Jun. 27, 2022
Dear SEC, This is Yang Liu from Virginia. I am writing in support of GBTC being converted into a spot ETF. There are several countries including Canada and Australia having already approved and listed bitcoin spot ETF's and U.S. is lagging behind. The communist-led country, China, has banned bitcoin because they will never allow their citizens to have any decentralized assets and all their citizens' assets can be confiscated any time by Chinese government. Chinese citizens haven been living under fear and insecurity all along. U.S. will never be like China and U.S. will never let their citizens live under fear and insecurity. U.S. is all about freedom, democracy, and innovation. Bitcoin is the best innovation that mankind has uncovered thus far and U.S. should help this great technology to flourish. SEC should lead U.S. market to the right direction by approving GBTC to be converted into a spot ETF. Many people are doubting SEC's ability to help U.S. to lead this time. However, I think SEC has all the knowledge and capability to assess the value of the ETF and provides access to an Bitcoin spot ETF to American people and to the world. Of course, there is risk to every investment, but the risk of Grayscale's Bitcoin spot ETF is no greater than any technology company listed on Nasdaq, so SEC should give American people this opportunity to invest in the most innovative technology of our lifetime. American people will thank you for that. And we all look forward to this great day to come! Thanks, Yang Liu