May. 10, 2022
To Whom This May Concern, This e-mail is in regards to Grayscale's filing to convert GBTC into a spot Bitcoin ETF. I am of the camp that a Bitcoin Spot ETF is infinitely better and safer for the average investor as well as healthier for the overall market when compared to a Bitcoin Futures ETF. I believe that currently, Grayscale is best positioned to take on this role. With a Futures ETF already approved by the SEC, essentially approving of the underlying asset to begin with, it should stand to reason that a Spot ETF would also be approved. Of course, there are a million and one things that I'm sure everyday investors like me are not taking into consideration, but I still very much believe that if a Futures has already obtained the go-ahead, a Spot should already have been, as it is much safer for the average investor. Best Regards, -- Robert Ho