Feb. 22, 2022
Dear Sirs, I support Grayscale in their efforts to convert the Grayscale Bitcoin Trust into an ETF. I am a GTC trust holder and I am materially, negatively impacted by the refusal to approve this conversion. There is less liquidity and more inefficiency in the price of Bitcoin given the current situation. I also want to see more investment in GBTC which would occur if the trust were converted to an ETF. For the SEC, this conversion would have the added benefit of directing more money into the financial markets rather than the less transparent blockchain network. Sincerely, Charles Lellman