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 am an investor working on my CFA as well a recently completing a couple different blockchain related classes. Therefore I am well aware of the risks I am taking when choosing to invest in Bitcoin. The fact that futures based ETFs and the GBTC trust exist while a spot ETF hasn’t been approved truly confused me because it is the superior product. The SEC is not protecting investors my banning a spot ETF. Instead they are stifling innovation and forcing investors into inferior products which higher fees. Please approve a spot ETF to make this environment more competitive and therefore more beneficial for the consumer. Sincerely, Mark Ogle