Feb. 23, 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. The premium and discount between the price of Bitcoin and GBTC has been harmful to investors looking for true exposure to the underlying assets. I can't think of a meaningful reason to provide futures but not spot prices on an asset class of this size. Either provide _public_ clarity on what is problematic about a spot ETF or approve one. I've been very disappointed to see the approach being taken thus far. Sincerely, Micael Sanchez St. George, Utah