Apr. 22, 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. I strongly believe that in order to best protect consumers and provide consumers (especially retail) with an ETF product that most closely tracks Bitcoin, the SEC should immediately approve the conversion of the Grayscale Bitcoin Trust into the first Spot Bitcoin ETF in the U.S. The U.S. has a long history of leading global financial markets due to our support of capitalistic / free-market policies, providing clear rules for investors, and supporting innovation and the development of new financial products. The U.S. risks being left behind by other developed countries around the world which have already approved spot ETFs, including: Canada Australia Singapore Brazil Approving the conversion of GBTC to spot Bitcoin ETF will lead to superior consumer outcomes via better investment options at much lower costs, and allow U.S. citizens (especially lower-income Americans) to maintain and protect their purchasing power against rampant inflation and currency debasement by saving / investing in the hardest money and most decentralized monetary system ever created - Bitcoin (BTC). Respectfully yours, Stephen Jordan Jr. Investment Advisor Representative