May 14, 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. A spot bitcoin ETF is a better, less costly product than the already approved futures based etf. People deserve to buy bitcoin through a spot etf and have the protections of it being held with a traditional, registered custodian like Fidelity or Morgan Stanley. The idea that we must go to a riskier company like Coinbase is outrageous. Other countries already allow this. The United States needs to lead in financial innovation but the SEC is hindering this. Sincerely, Jesse Sletteland Poway, California Advance Realty and Management