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. I have take the time to watch the MIT blockchain online course by Prof. Gary Gensler. I commend him it is excellent. I believe crypto is the future and that the SEC is doing a disservice to the public by not allowing a spot bitcoin ETF. I dont believe market manipulation is anything except a political excuse to stall this. The bitcoin ETF will have to happen sometime. As bitcoin ETF are available to Canada, I, as a Canadian, access these but want the US side of my portfolio access. There are already many bitcoin ETF in Europe. The US risks putting itself at the back of the back, not leading as it should be. I have more fear of holding bitcoin myself in cold wallet for fear of password loss or hack. I do has account in gemini and coinbase that I have some holdings. Ultimately though the safety and security of this product needs to be with the ETF provider, holding it in coinbase or gemini for you in a ETF product. We as consumers deserve the right to add this through usual stock market means into our balanced portfolio. Lets get our head out of the sand and stop stalling. Sincerely, Brad Hinz.