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. It makes no sense that a futures based ETF is ok but a spot ETF is not because they both get their price from the same underlying asset. And since the price has traded from a premium to NAV to now being in a massive discount to NAV, investors are losing lots of money. Sincerely, John S Utah