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 am an investor in GBTC and I think the SEC’s reluctance to approve the conversion of the trust into an ETF is harming common investors such as me. There is no reason why SEC should penalise this particular ETF given the variety of other ETF products you have approved. Bitcoin is a nearly $1 trillion asset class and investors like me know the risks we are underwriting in the underlying asset. Sincerely, Avik