Feb. 22, 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. I reside in Illinois. To date, the United States lags far behind multiple other countries in approving a spot Bitcoin ETF. Instead, and for inexplicable reasons including illogical justifications of “investor protection,” the SEC has only approved futures-based products that do not accurately track the price of Bitcoin and that do far more to harm investors than a spot Bitcoin ETF product. It is far past time for the SEC to accept that Bitcoin is here to stay and that a spot ETF is in the interest of investors. Sincerely, Brian Mead BRIAN MEAD Partner McDermott Will & Emery LLP