Feb. 27, 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. I see no reasonable justification that a futures-based crypto ETF is allowed and GBTC is not. The fact that investors will have a higher probability of losing money due to roll costs in the futures ETF, it seems counterintuitive that investors are being protected with this decision. I urge you to support the conversion of GBTC and ETHE to ETF's. Sincerely, Steven Yamane