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 am a resident of California, a licensed attorney, and an active investor. I strongly believe that a spot ETF is long-overdue. There is no rationale for having spot gold ETFs while rejecting bitcoin ETFs. There is no evidence that either market is subject to manipulation by third-parties. The guidance from the SEC thus far has put bitcoin ETFs at a distinct disadvantage to gold ETFs because the SEC is requiring bitcoin ETFs to prove this negative that no manipulation exists. Sincerely, Michael Gorini