May. 10, 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 currently live in Iowa and cannot stress enough how much both Iowa and the United States need to be on the cutting edge of technology. We are already falling behind countries like Canada, Switzerland, Singapore, Germany, and recently Australia are setting the proper tone and we run the risk of falling behind. The United States is known for being the land of the free and yet you are attempting to limit our investment choices. A futures ETF was approved, the United States is home to the most bitcoin mining power in the world. We should provide a favorable environment for innovation and let our citizens decide what to invest our hard earned money in. The way to make it less volatile and risky for investors is to allow this spot price ETF, more and more capital will flow into it stabilizing it. There are hundreds of millions of people invested in it but we are having to go invest in a different way because you will not do your job and provide the proper investment products in a safe and regulated way. By not approving it you are not protecting the average citizen but making it more risky pushing citizens to look elsewhere and potentially even fall for scams. We can’t be afraid of change, we need to embrace the superior technology and adapt. Sincerely, Jason Meighan