May. 06, 2022
Hello, I’m writing to you to approve the conversion of the Grayscale Bitcoin Trust (GBTC) to a spot ETF. Based on the several Bitcoin futures ETF’s you have already approved, I see no reason why the spot ETF should not be approved for Grayscale, if you are performing your duties in an ethical manner. Other countries have issued spot ETF’s and delaying or denying this application will not protect anyone, if those countries are used as a reference. If anything, I would argue you are doing more damage to investors than protecting them should this not be approved. Thank you, Terry