May. 16, 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 believe that this conversion into the first spot etf would provide stability to bitcoin, legitimacy to its onboarding use case for corporations as an alternative to holding gold. Other countries such as Canada and Australia have already approved and implemented similar ETFs and it provides true use with lower consumer risks for the asset. Please consider the positive impact of investors using a spot etf rather than a futures contract etf, which is much less stable. Sincerely, Rastaar Haghi