Apr. 23, 2022
Dear SEC Commissioners and staff, I believe it is high time to allow the creation and trading of Bitcoin spot ETFs, starting with the conversion of GBTC into a spot ETF. Bitcoin interest and adoption will continue to increase, and retail investors will continue to look for the safest and most convenient ways to gain exposure to this exciting industry. It would be better for investors and regulators to welcome this new asset into the ETF market. Holding off, under the guise of investor protection, does not do anyone favors in the long run - it will make investors more likely to seek alternate methods of investing, probably in less-regulated, less safe ways. I support the conversion of GBTC into a spot ETF, and I hope you will as well. Regards, Brian Scoles