Feb. 22, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC). I am a physician living in Iowa. A significant portion of retirement funds are in GBTC. If you are concerned about market manipulation then why don’t you approve an ETF subject to the condition that it can only be bought and sold with settled funds. This will prevent short term trading. Or come up with some way of preventing short term trading. I want to hold GBTC as a long term investment. The current discount of over 20% has me trapped. This is not fair to long term savers. You are NOT protecting the public by allowing this to continue. Please approve GBTC as an ETF that can be used for long term savings. This is what would benefit savers. Come up with a way to prevent short term trading with GBTC if you are concerned about short term manipulation in the underlying market. Kindly approve GBTC to some kind of vehicle that makes its market value = NAV. Again, I and countless savers like me only want to use it as a long term investment vehicle. Sincerely, Asif J Ahmed, MD Member, Board of Trustees Unity Point Healthcare Illinois & Iowa