Mar. 29, 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. As an investor in the GBTC fund, I would like to show my support for its conversion to a spot ETF. This would more accurately reflect the real price of Bitcoin and less speculative. The conversion to a spot ETF would allow for a more accurate pricing mechanism for this product and, with proper custody and regulation rules, become the investment tool that investors are looking for. Sincerely, Ian Seibert