Feb. 25, 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. I have made investments that are affected by the closed ended products that trade on the open market such as the Grayscale Bitcoin Trust. Currently this close ended trust trades at a 26% discount to the net asset value of the trust assets. It would be better for consumers and investors if the trust was allowed to convert into an open ended ETF which would allow for the net asset value to match the market price. This would protect investors from substantial mispricing and would show that the SEC is embracing an inevitable future. Sincerely, Teresa Talbott