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. The SEC should provide investors with the option of choice by allowing Physically-Back or Spot Bitcoin ETFs, the SEC should allow investors to build a diverse investment portfolio that takes into account all possible market risks and all possible market rewards. SEC should not limit the right of choice and preference within the investment environment rather you should encourage innovation by providing investors with options and Spot Bitcoin ETFs is one of those options that need to be made available. The SEC should lead the world in the adoption and regulation of Bitcoin ETFs therefore we ask the SEC to realize our call to permit GBTC to be converted into a Spot Bitcoin EFT. I fully support Grayscale filing to the SEC and I hope that this process will result in a positive outcome where we have the choice to invest in a Spot Bitcoin ETF created by Grayscale. Thank You. Kind Regards. Mokarane Morgan Motsepe.