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. The current ETF product (futures only) is not a good option since the carry costs are so expensive. Also, as an investor in GBTC I am being hurt by the discount to NAV constantly increasing. GBTC is the biggest holder of bitcoin in the world, and already has a lot of investors using it. Converting GBTC to an ETF would make their product much better not only for the current investors but also for new investors that want to gain exposure to the price of bitcoin. Sincerely, Shashank Suri Puerto Rico, USA