Feb. 23, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to the first Spot Bitcoin ETF in the United States. I am not a large investor. I wanted to add exposure to Bitcoin to my modest portfolio. I have purchased several different funds for this purpose, including the Grayscale Bitcoin Trust. But I have been extremely frustrated with the failure of these funds to accurately track the value of Bitcoin. Most companies that invest in digital assets also fluctuate in value/price based on factors other than the simple price of Bitcoin. These other factors have diluted the value of my investments in these funds with no correlation to the price of Bitcoin. Investors in Massachusetts, like me, and from elsewhere need a fund like GBTC to track the Bitcoin spot market so we can have a simple way to add Bitcoin to our portfolios. Thank you for your efforts to make investing fair and safe. Sincerely, David Wolf Massachusetts