Subject: File No. SR-NYSEArca-2021-90
From: Gary Scroggins - Personal
Affiliation:

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.

As a retiree with a traditional IRA, there is no reasonable way for me
to hold Bitcoin directly.  While GBTC is a reasonable surrogate for
Bitcoin, it tends to sell at a discount or a premium to it's NAV
increasing the volatility of an already volatile asset.

Converting GBTC to a spot ETF would eliminate that additional volatility
and allow retirees like myself to hold a position in this new and
exciting technology.

There are ETFs available for almost every stock group and commodity. I
can see no reason why Bitcoin should not have it's own ETF and Grayscale
Bitcoin Trust is ready to proceed.

Thank you for your consideration.

Sincerely,

Gary W. Scroggins