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 SECs job is to PROTECT investors. The current rules are not achieving this goal. The Grayscale Bitcoin trust as it currently stands is an inferior investment than its conversion to a spot ETF would allow it to be. The futures ETF that was approved is much riskier for investors and reflects a double standard by the administration. I am requesting this administration to accept Grayscales application and to convert the Grayscale Trust GBTC into a spot Bitcoin ETF. That means, if GBTC shares are trading at a discount -27% as it stands today with a 2% fee, all else equal, shares should increase in value to NAV.** Conversely, if GBTC shares are trading at a premium, all else equal, shares should decrease in value to NAV.**This would allow GBTC to trade fairly and in line with the Futures Bitcoin ETF. Sincerely, Michele Louise Stagi A.K.A Grandma M Mother of two beautiful Girls and grandmother of two little boys. I would like to be treated fairly and be able to leave a legacy for my children. Please pass this along .. .