Mar. 07, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to a spot ETF. I am a financial advisor and have many clients interested in a spot ETF that tracks crypto currencies including bitcoin. They won't touch and I will not recommend a futures Bitcoin ETF as futures do not directly track actual spot price and can also suffer from contango effect. Because of the contango effect, I find that most futures ETF's are inappropriate and too complex for my investors and therefore do not use them. Spot ETF's are easier to understand and track. Please consider allowing Grayscale to convert their Bitcoin Trust (GBTC) to a spot ETF. I reside in Washington State. Thank You, Jeremiah Rodriguez