Mar. 03, 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 have owned GBTC for several years and the conversion to an ETF benefits all investors. First, it would reduce fees from the current 2% to a more reasonable ETF fee amount. Most importantly, it would more closely track the actual value of the underlying asset in the fund. Currently the fund trades at a discount to the actual investment held, and the discount has widened to a ridiculous 25%. At this point so many people are invested in Bitcoin that it should be considered no different than any other asset. Sincerely, Jonathan Little Fairport, NY 14450