Feb. 25, 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. As an owner of a significant holdings in GBTC in my retirement account, my outlook is for the long term. But the failure of the SEC to allow conversion to a spot ETF hurts my long term strategy. Just because a futures based ETF customer is fully under the SEC umbrella, does not mean you are protecting them more than me, simply because the underlying asset -bitcoin - is exactly the same and any hearsay manipulation is no different between spot and futures. Sincerely, Michael BERGSMA