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 am a resident of Florida. GBTC needs converted to an ETF. There is no reason that the shares should trade at a 26% discount to NAV like they are today other than the SEC will not approve the ETF conversion so the discount can be removed through redemptions. Blockchain technology is the future of finance and the SEC can help the United States be a leader in the space and not stifle innovation by allowing GBTC to convert to an ETF. Please make the right decision and protect consumers who do not fully understand how the closed ended product trades. Is there a good reason not to approve the ETF? Why is the SEC so reluctant? Sincerely, William Purcell