Mar. 21, 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 small investor, reside in Missouri, and found GBTC as the easiest way to gain some Bitcoin exposure in my IRAs. Converting GBTC to an ETF should eliminate the huge discount to NAV as well as lower the expense ratio. How is that not good for investors? All other approved securities (i.e. futures ETF that you previously approved) are not meant for long-term holding. Why are we falling behind Canada and other countries who have already approved Bitcoin Spot ETFs? Let's lead this industry and approve the conversion of GBTC to a Spot Bitcoin ETF! Thank you. Chad Means