Feb. 26, 2022
Dear SEC, I am an individual investor. GBTC is an easy and efficient way for small investors like me to get some exposure to bitcoin. Right now there is a discount of 20% and a fee of 2% per year on this exchange traded note. I would ask that you allow GBTC to be converted to a spot ETF. A futures ETF has already been approved, but it is much more risky that a spot ETF. Approving the conversion of GBTC to a spot bitcoin ETF would make it easier and less expensive for small investors like me to gain a small amount of bitcoin exposure. Sincerely, David Maguire