Apr. 14, 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, As a retail investor, I guess I represent dumb money. Especially as I am also a renter. I am asking you to help dumb money (US citizens) overcome some of the headwinds placed on us by our government. Like most older Americans, the bulk of my wife’s and my savings are in traditional IRAs (because that was the help our government engineered for us to be able to supplement Social Security payments to provide for ourselves in our later years). In late 2020, because there were few ways for average citizens like us to gain exposure to Bitcoin in IRAs, we chose GBTC. Also, because I love my family, I encouraged my brother and mother to purchase GBTC in their retirement accounts. Because GBTC remains a trust, and because the premium has severely eroded, that 2020 investment return is -11% today. While bitcoin itself has returned +21% over that same period. I, my brother, and my mother don’t feel our government’s protection. We feel the opposite when we see citizens in other developed nations can buy spot Bitcoin ETFs. But sadly, as citizens of the greatest country on earth, we cannot. We are only allowed access to a futures based product, for our protection. I beg you to help give average Americans a way to invest in Bitcoin for their retirement that stands a chance of helping them to offset the negative headwinds of money printing and other factors contributing to our current terrible inflationary environment. Please help my family and 250 million American adults to have retirement access to an ETF that tracks the actual spot price of Bitcoin. I believe it is only fair to allow GBTC the right to be that first approved Bitcoin spot ETF! Thank you for providing a way for my family's voice in this matter to be heard. Sincerely, David White