Mar. 26, 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 believe the conversion to an EFT would more efficiently track the price of bitcoin by effectively eliminating premiums and discounts. As an owner of GBTC, I am down 20% (this discount) because this EFT conversion process is a gray cloud over this investment. Bitcoin EFT's can be purchased in Canada which is hurting us USA investors including me just outside of DC in northern Virginia. Further, Grayscale would reduce the management fees for GBTC which help us small investors looking for retirement asset diversification. Sincerely, Jerry Schulz