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. I completely understand the idea of investor protection but the time has come for a Bitcoin Spot ETF. I have purchased the Futures ETF and the roll costs are killing me and my investment. I have purchased the GBTC Trust and the discount is killing my investment. It’s time that investors get direct exposure to Bitcoin. Is it volatile? Yes. Are many investments volatile? Yes. Take Facebook, one of the world’s largest companies: Down over 50% in less than a week. In a world where many SPACs are down over 80% from their debut, let’s not get too righteous over investor risk protection. Bitcoin markets have matured, are global in nature and liquidity is significantly higher than years ago. All that’s left now is allowing investors to have a product that gives them direct and fair exposure. Grayscale can do this well and I advocate for approval of a conversion to ETF. Thank you for your serious consideration. It will help small investors like me get a fair shake in the marketplace for my intended desired exposure to the Bitcoin asset class. Sincerely, William VanDevender William J. Van Devender, Jr. 1300 Meadowbrook Road Suite 202 Jackson, MS 39211 Office: 601-982-8728 Cell: 601-214-3400 Fax: 601-982-8673 NOTICE: It’s OK to print this email. Paper is a plentiful, biodegradable, renewable, recyclable, sustainable product made from trees that are grown for this purpose. The production of paper and other forest products utilizes renewable natural resources, sequesters carbon, and provides jobs and incomes for millions of Americans.