Feb. 22, 2022
Dear SEC, I’m writing to express my full support for the conversion of the Grayscale Bitcoin Trust (GBTC) to a Spot Bitcoin ETF. I am a current holder of this asset in my 401K account and given its current structure, I, a very small retail investor am being penalized by almost -30% from the fair market value. This impacts my retirement. The Spot Bitcoin ETF will fix this issue that is hurting us retail investors the most. I trust the SEC to watch out for us retail investors and approving the ETF will do just that. It seems counterintuitive to me that a Futures ETF exists for Bitcoin but not a Spot ETF; hopefully this can be rectified by converting GBTC to a SPOT Bitcoin ETF asap. I am happy to provide further details about my holdings. Don't hesitate to reach out with questions. Best, Nader Ghaffari