Subject: File No. SR-NYSEArca-2021-90
From: Mark Webber
Affiliation:

Feb. 26, 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 using BTC as a large component of my retirement funding. I need access to BTC exposure in my Vanguard IRA. At present, there is a large discount to NAV in GBTC. This is irrational as Grayscale is a very large holder of BTC. I need GBTC converted to an ETF to capture the true value of my investment.

Sincerely,
Mark Webber