Feb. 22, 2022
To whom it may concern, I became an investor in the Grayscale Bitcoin Trust product because there is no other product that tracks the price of bitcoin that trades on a traditional financial marketplace. Yet it's been clear for a long time that Bitcoin has a place in most investors' portfolios. Many other Western nations have approved regulated, spot bitcoin ETFs. It is in the interest of the investor to do so for a plethora of reasons. Some of those reasons include: Far more accurate tracking of the actual value of the underlying asset. GBTC has been trading with wild premiums and discounts to NAV since its inception. I'm sure you are aware of why this happens. Significantly reduced fees. Again, I'm sure you're aware of this. Having a regulated Bitcoin ETF would be a boon to a wide audience of investors, and Grayscale's offering is an appropriate choice to be the first approved product. I hope you will take these considerations seriously, as it is widely believed that denying these well structured Bitcoin ETF applications is not protecting investors. To the contrary, it is harming them.