Feb. 28, 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 live in Illinois. I understand the challenges regarding the underlying technology of GBTC and the nature of the bitcoin spot markets. However, the mechanism for determining NAV of GBTC is knowable and able to be verified. Maintaining the discrepancy between NAV and the market price of GBTC is detrimental to main street investors and exposes the vast majority of investors to market forces that are tilted in favor of large institutions. Sincerely, Peter Jarrett