Feb. 22, 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. Resident of New York, investing in GBTC for as long term in a 401k , it is necessary for this instrument to become an ETF for the market to do it job, ie : reverting the instrument to its NAV. We cant have BITO allowed, tracking futures the same way VXX is and slowly destroying value with negative carry and roll , and at the same time letting GBTC trading at 20%+ discount to NAV Sincerely, Paskal lamour