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. As both a personal investor and as an investment advisor on behalf of hundreds of clients we would like a spot based etf as a way to express bitcoin exposure in our portfolios. A GBTC ETF would give us daily liquid access to this asset class. Additionally the etf vehicle should eliminate an appropriate 25% discount to nav that GBTC currently experiences as a trust. Sincerely, Tim Shanahan