Apr. 22, 2022
Dear SEC, As a retired small retail investor, I am writing in support of the approval of spot bitcoin ETFs. You have approved futures ETFs under the 1940 Act and the 1933 Act, and therefore have laid the regulatory framework for approving a spot ETF. Approval of spot bitcoin ETFs would benefit the many small retail investors dependent on a diverse range of retirement investments. Since it is Earth Day, I am concerned about the electricity demand of mining Bitcoin; however, this is a short term problem with multiple opportunities to reduce impacts. Electricity demand is a larger societal issue as we move toward electricity-driven transportation. Green energy solutions, energy storage, and bi-directional charging are all opportunities that investors and individuals can choose to offset carbon impacts of blockchain and bitcoin mining. Bitcoin is an important and growing part of financial investment portfolios, and approving a spot ETF would give the investor market a great way to access this investment within the safety of the regulatory framework. Please approve the GBTC conversion as soon as possible. Regards, Michael Marxen Portland, Oregon