Mar. 01, 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 originally invested in GBTC as a safer alternative to largely unregulated crypto exchanges. However, since there is not a spot ETF, GBTC premium/discount does not track to NAV 1:1. As a result, it is currently -24.45% to Bitcoin. By approving GBTC spot ETF, it allows traditional investors a safer and regulated option to invest confidently in crypto. I appreciate your consideration and time. V/R Matthew D. Forbes