Feb. 22, 2022
Dear SEC, Please approve the GBTC conversion from a Bitcoin Trust to a spot bitcoin ETF. This would provide both individual and institutional investors with a safer, simpler means of gaining exposure to Bitcoin. Other developed nations have already approved spot bitcoin ETFs, and the lack of that option in the US is leading investors into riskier assets or preventing them from participating in the space altogether. An ETF would more closely track the market price of bitcoin, while offering lower annual fees than the currently available options. Thank you in advance for your consideration.