Apr. 22, 2022
SEC Rules Committee, I am writing to voice my strong support for the conversion of the Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. The SEC was founded and empowered to protect the public and the investor community. In order to best protect US investors, the SEC should immediately approve the conversion the Grayscale Bitcoin Trust into the first Spot Bitcoin ETF in the US - this option is the only one that will allow us to have the best possible data to make informed investment and risk decisions because this option most closely tracks Bitcoin. Until the SEC approves this conversion, it is my considered opinion that the SEC is categorically defaulting in its obligation to protect the best interest of its investor constituency. It's about time we were leading the world in the next big industry as opposed to losing world market share to China, Eastern Europe and other global competitors. I'm a resident of California and Connecticut and appreciate your immediate and considered attention to this matter. Thank you and best regards, Ian Michael Cahill