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. Americans deserve access to spot Bitcoin via traditional financial markets as a part of a diversified portfolio. Only 21MM BTC will ever exist and investors need a long term hedge against the rampant inflation that fiat/helicopter money has created. It is surprising that the SEC has approved derivative based BTC products or even 3x leverage small cap ETFs, prior to a BTC spot ETF. If the goal is consumer protection, it can be argued that a spot BTC ETF is equally or less risky than these other leveraged products. Thank you for your consideration and all the hard work you do on behalf of the American people. Onward and upward! Sincerely, -- Greg Jones