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. This is outrageous that a futures bitcoin product has been released with its con-tango risk, but a spot bitcoin etf has not been released, I am a wealth advisor and my is based clients want a spot based etf and have had to turn to actual bitcoin instead of an etf, maybe this is for the best. It’s amazing that we can invest in an overvalued security but not an undervalued early stage asset class. You have a duty if you want to have credibility to approve a spot bitcoin etf. Please get this done ASAP! Waiting to approve a spot bitcoin etf does a disservice to investors who are mired by high inflation rates and an inferior bitcoin futures etf product. Do the right thing and approve a spot bitcoin etf. Denver, Colorado Sincerely, Paul Orlino