Feb. 24, 2022
Dear SEC, Please approve the GBTC conversion proposal to create the first spot Bitcoin ETF in the US. We have seen countless "pump and dump" SPAC mergers and scam companies trade on the NYSE. Hiding behind a consumer protection excuse as the reason to not convert doesn't make sense. I originally got into Bitcoin in August of 2020 having bought in the high single digits but also having bought at all time highs. Price and volatility is part of the program. GBTC actually seems to be more volatile than the underlying asset. I understand what I am investing in as most do when they take the Bitcoin journey. We don't need the SEC to protect us in this instance. Converting this trust into the first spot ETF for the US makes sense because Grayscale is the largest of it's kind, they have the regulatory framework in place and the consumer's are demanding it. Best, -- Ryan Barrett White Bear Coffee Co. PRB & Associates, LLC.