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. Conversion to an ETF would have multiple benefits. It would lead to management fee that GBTC currently charge being reduced to be in line with other Bitcoin EFTs. Currently GBTC charges an exhibiting management fee, a legacy of being the first security in the Bitcoin ecosystem. Furthermore a conversion to an ETF will result in a more transparent pricing of the security. Currently GBTC trades at significant premiums and discounts to the underlying Bitcoin price. Kind Regards, Anton Raimondo