Feb. 25, 2022
Dear SEC, As a resident of Illinois who holds GBTC and ETHE in my retirement accounts, I am writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to a Spot Bitcoin ETF in the United States. I would like the freedom to be able to buy and hold spot Bitcoin (and hopefully one day other digital assets like Ethereum) through regulated custodians in my retirement accounts with the same ease and reliability that I can buy and hold them through exchanges that do not offer retirement accounts. I believe a spot ETF would be the best way to do this at the moment. As long as GBTC is not allowed to convert to a spot Bitcoin ETF, I will be reluctant to put more money into my retirement account because I am not able to manage the money the way I want. I hope you will take into consideration the effects a decision to prevent the conversion to an ETF will have on Americans like me whose retirement may be detrimentally affected by the lack of a spot Bitcoin ETF. Sincerely, Keith Birginal