May. 09, 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. GBTC is already one of the largest holders of the underlying asset in the market, making it the best entity to approve first. Though some volatility exists in the Bitcoin market, certainly similar volatility exists in other regulated financial products and this shouldn’t be a reason not to allow exposure. Sincerely, Andrew James California