Feb. 27, 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 currently own GBTC in my 401k. The 20%+ discount to its NAV would be materially reduced or eliminated if the fund could convert to an ETF....so would the 2% yearly management fee. I appreciate the SEC trying to protect investors. If there is something that needs to be done from a regulatory perspective, please share those details with Grayscale and the investment community at large so we can work together to resolve those concerns. Bitcoin has the promise of improving the financial lives of people, corporations, and governments around the world. In much the same way the US Government nurtured the internet 30 years ago, I encourage your agency to play its part in helping lay the foundation to grow this important new asset class, tax base, and job creation machine. Sincerely, Chris Bruno