Subject: File No. SR-NYSEArca-2021-90
From: Patrick Reynolds
Affiliation:

May. 10, 2022

Dear SEC, I’m writing you from New Jersey 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. It is a shame that only a futures ETF has been approved which is settled in fiat currency since that enables the price of bitcoin to be manipulated by wall street. A spot ETF represents the asset much more accurately since it’s physically backed by bitcoin. This is the safest way to invest in an asset. Why is it safe to have a spot backed ETF in Brazil and Canada but it’s not safe for us Americans??? 


Sincerely, 
Patrick Reynolds