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 am an individual investor. I absolutely support The conversion of GBTC to a spot Bitcoin ETF. Frankly, getting exposure to this important asset class (cryptocurrency) is made more difficult by need to use exchanges and wallets outside our trusted major brokerage houses. I do own GBTC shares now, and it seems very unfair to suffer the discounting mechanism to NAV because of the Trust structure. Fees will be lower and much more fair to investors in a spot ETF. Even US government accounting will be easier, I believe, as many more future investors will enter the Bitcoin space thru traditional brokerages with their traditional record keeping. This is an important step to protecting all investors in this space. I live in Arizona and am happy to speak with anyone in follow-up if that is helpful. Sincerely, Stuart Kozinn MD Stuart C. Kozinn MD Clinical Assistant Professor of Orthopedic Surgery, University of Arizona College of Medicine Phoenix Medical Director of The Scottsdale Joint Center