May. 10, 2022
Dear SEC, I am Eric Bowler, 35 year old male, Software Engineer at Lockheed Martin from Fairfax, Virginia and I am NOT in favor of approving the Form 19b-4 that NYSE Arca filed with you to convert Grayscale Bitcoin Trust (OTCQX: GBTC) – the world’s largest publicly traded crypto asset fund, with approximately $30 billion in AUM, hundreds of millions in daily trading volume, more than 850,000 investors, holding approximately 3.4% of all Bitcoins outstanding – into a Bitcoin Spot ETF. I believe individuals should custody their bitcoin directly or in a collaborative custody fashion, similar to cash. I believe America will be better off in the future if everyone owned a small amount of bitcoin on their mobile device or larger amounts jointly held with professional bitcoin custodians, similar to a bank. I believe the conversion of a Grayscale Bitcoin Trust into a Bitcoin Spot ETF would hinder bitcoin technological advancements and weaken American’s financial dominance. Sincerely, Eric Bowler