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. The SEC currently allows investors to invest in securities that have in the past and possibly in the future will become worthless. Who knows what the value of Bitcoin will be in the future just like who knows what the value of individual securities will be in the future. Therefore restricting investors from investing in Bitcoin in a Spot Bitcoin ETF to protect them from potential losses seems contradicatory. Please consider allowing Grayscale Bitcoin Trust (GBTC) to convert to a Spot ETF. Thank you. I reside in Delaware. Sincerely, Patrick M Ashley