Mar. 02, 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 a very small investor in GBTC stock (less than $25K). I have no interest in owning bitcoin outright but want to participate in it as an investment opportunity which GBTC and a spot bitcoin EDT would provide. However, I have been frustrated that the GBTC stock which should closely track the price of bitcoin, has been saddled with larger and larger discounts for unknown reasons. Allowing GBTC when converted to a spot Bitcoin ETF to track the spot price of bitcoin would do away with those penalties, making it a more attractive investment choice for me. Sincerely, Erik Kwiecienski Austin, TX