May. 11, 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. Many countries including Canada, Australia, Switzerland, Germany and Brazil now have spot Bitcoin ETFs. The United States has always led the world in innovative products and it's frankly very disappointing the the SEC is taking this long to approve the first spot Bitcoin ETF. Bitcoin has proven itself as an asset class of it's own over the last decade. More people need access to it. This has been recognized by other countries mentioned above. The SEC needs to make immediate progress on this instead of hiding behind investor protection. It's crazy that people are allowed to trade options easily through platforms like Robinhood but we can't have a spot Bitcoin ETF for an asset that is worth north of half a trillion dollars. Sincerely, -Qasim