Subject: File No. SR-NYSEArca-2021-90
From: Dennis N/A
Affiliation:

Feb. 28, 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 live in Illinois and have GBTC Grayscale in my IRA.  I am unhappy with
the fact that it is currently at a discount and I am unhappy with the
previous premiums which had to be paid to buy this Grayscale trust.  I
cannot easily buy bitcoin in an IRA without incurring additional
expenses.  Volatility should not be used as a reason to NOT have an ETF
since ETF's exist which are 2 or 3 times the changes in the underlying
security--e.g. FAS which is 3x the underlying.  ETF's are appearing all
over the world.  I appreciate the SEC's care and concern regarding the
small investor.  In this case, the small investor is being penalized
since we cannot purchase GBTC out of the usual markets as the big banks
or hedge funds can. The US should not fall behind in providing its
citizens with the same opportunities given to other countries who have
approved spot ETF's.

Sincerely,
Dennis Long