Apr. 12, 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. It makes absolutely no sense that there is a derivative EFT for bitcoin and not an ETF of the actual coin. Moreover, as Grayscale owns actual bitcoin, not a hedge on bitcoin, its value should reflect the actual market value of bitcoin times the number of tokens owned. I realize that the issue at hand is that the CFTC has recognized Bitcoin as a commodity and therefore allows futures to trade on it, whereas the SEC has not recognized bitcoin. Irrespective of the executive order directing the SEC to evaluate crypto and Central Bank Cryptocurrencies, there is no conflict with approving a Spot Bitcoin ETF and the ultimate policy recommendations the SEC may make to the Biden Administration, which will be a lame duck operation by November 2022 anyway. Lisa Price Cache Creek Financial, LLC Jackson Hole, Wyoming