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. ***My 401k only provides me bonds as a safe haven to protect my assets as I approach retirement. My IRA allows me to diversify my retirement account nestegg by purchasing GBTC but there is a large discount that has occurred in essence eroding my valuation. A spot ETF would eliminate this NAV discount and protect me from NAV erosion but more importantly it would keep the price in line with BTC price and protect investors by providing a diversified safe haven especially as interest rates rise causing bonds to lose value. Sincerely, *** Ritch Dieger ***