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. A more efficient tracking mechanism should help investors to select exposure to Bitcoin, I would hope at lower cost, and with more transparency as to moves in Bitcoin. Such vehicles are preferable to me so as to avoid the risks and complexity of owning, safeguarding, and transacting directly in bitcoins themselves. Sincerely, Paul Butzberger