Mar. 17, 2022
SEC,
I am taking time out of my day to respectfully request your agency convert Grayscale Bitcoin Trust to a spot Bitcoin ETF. Personally, I am representing approximately thirty-five close family and friends in this matter. While I am at it, US citizens need a variety of spot Bitcoin ETF’s. Allowing only Futures ETF’s is quite frankly a mockery to investors in the United States as this does not accurately track the price of Bitcoin. We deserve better. The SEC is better than this, and by not providing a pathway for investors to directly invest in Bitcoin is a disservice. As a global leader in a variety of categories, why are we lagging other industrialized countries by not allowing a spot Bitcoin ETF? Why continue to resist? As divided as our country is politically, the bipartisan Congressional Blockchain Caucus is advocating for the same product (and asked numerous questions as to why your agency chooses to leave unanswered). Millions of Americans already invest and own digital assets. Accredited banks are developing the necessary plumbing to provide digital assets. The ship of prohibiting and resisting has sailed, and as a tax-paying citizen I am better served to have regulatory framework put in place to protect investors like myself, allow for the rules of the investing game to be crystal clear, and help our great nation move forward and embrace the 21st century.
As I mentioned above, more people than you realize are paying close attention to this mattery, and the chorus is going to continue to get louder and demand access.
I hope you have a splendid St. Patrick’s Day.
Thanks,
Matthew St. Germain
Account Representative
Crown Lift Trucks