Mar. 04, 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. A Spot Bitcoin ETF would serve as a much better product for investors that want Bitcoin exposure than Bitcoin Futures-based ETFs or GBTC in it’s current form. Investors should have access to a Spot Bitcoin ETF product which would better track the price of Bitcoin trading on cryptocurrency exchanges. It is NOT in investors best interests for the SEC to only allow Futures-based Bitcoin ETF products that do not track Bitcoin well or an inferior GBTC Trust product that trades at either a significant discount or premium. Sincerely, Daniel L - Colorado Resident