Subject: File No. SR-NYSEArca-2021-90
From: TR Irwin
Affiliation:

Apr. 08, 2022

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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.  


Without the availability of a spot-based bitcoin etf, US investors are compelled to invest in Canadian ETFs and other more indirect and speculative market-based options.  As such, the US market is losing valuable business to Canadian exchanges (thereby depressing US exchange values) and/or forcing investment in highly-diluted equity products that only indirectly vary with the value of bitcoin.  Please positively represent the desires and interest of US investors and markets by allow for a Spot Bitcoin ETF in the United States. 


Thank you for your support. 







T.R. Irwin  
California, USA