Apr. 07, 2022
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. Dear SEC, I am writing to support the conversion of the Grayscale Bitcoin Trust (GBTC), currently the world's largest Bitcoin fund, to the first spot Bitcoin ETF in the United States. As an GBTC investor in Minnesota, I have been negatively impacted by the SEC's reluctance to approve this conversion. GBTC's discount and fees are obscene which are a direct result of the SEC's adversarial disposition towards spot Bitcoin and GBTC. While the SEC delays, the rest of the world has been approving spot ETFs: the United States needs to be leading innovation instead of needing to catch up. American markets normally draw in the entire world's capital, but the SEC is pushing both American and foreign investors to foreign markets in this case. Thank you, Evan Schulz