Jun. 22, 2022
Hello, I am writing to indicate my support for this proposal to allow Grayscale Bitcoin Trust to convert to a spot ETF. The investment community has been waiting patiently for many years for a Bitcoin Spot ETF approval, as it would allow less technically savvy investors into BTC, which despite its volatility has provided investors with some of the best returns of any asset over the last decade. There are many riskier and more derived assets that are allowed by the SEC to be traded by retail investors to their detriment, and with the current inflation we need alternative assets to store value in. The ETF would also help eliminate huge premiums and discounts in the price of trusts like Grayscale and allow investors a safer vehicle to bitcoin than futures ETFs, with lower fees and the opportunity for redemptions. It seems other countries have launched ETPs without issues as well. There are tens of billions of dollars in other BTC ETFs already, please approve this proposal to help retail investors secure their financial futures and unlock the suppressed value in funds such as Grayscale! Thanks, Sushen -- §