Mar. 01, 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 approved futures based etfs are very expensive in terms of long term fees and this very unfriendly to retail investors. BTC is already available as a ETF in other countries BTC is widely traded already, but the lack of ab etf makes this type of property hard to access for retail investors using normal brokerage accounts and thus today are disadvantaged and have to use GBTC or the poorly constructed futures etfs. I would rather buy and hold in a USA etf. People will be buying BTC regardless, so why not give them an opportunity to buy with an etf? What would a future etf be approved and not a spot etf? Sincerely, Louis Vella