Apr. 22, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to a Spot Bitcoin ETF in the United States for the following reasons: With Canada and Australia already having a Bitcoin spot ETF, The US is falling behind in financial innovation. US investors need access to an alternative to gold as an inflation hedge. US Investors need access to a simple Bitcoin investment that is not burdened with fees and tax complexity. The current future-based Bitcoin ETFs are not readily understood by unsophisticated investors. A spot Bitcoin ETF would not be materially more vulnerable to manipulation than futures-based ETFs. Current options to invest in Bitcoin for the unsophisticated investor includes predatory fees, a simple, spot ETF would eliminate this abuse. Regards, Wes Wosinski