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. As other major markets have direct access to owning bitcoin which is most decentralized, open, and liquid crypto around the world, I would also love setting up a bitcoin fund for my kids and retirement as part of my stable portfolio. Current bitcoin is just plain inadequate due to futures contracts contango and fee structure. Please join Europe, Canada, Australia on converting GBTC into spot etf and approve other applications for spot BTC etf and let free markets take care of itself. As spot etf is more liquid and secure then off shore unsecured small crypto exchanges. Sincerely, Akbar Babadjanov