Apr. 22, 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 resident of Indiana and I personally hold shares of GBTC in a tax-advantaged retirement savings accounts that does not have the option of holding actual Bitcoin or other crypto currencies. It is evident that the crypto markets have matured over the past couple years. The industry is ready for Bitcoin spot ETFs and the United States needs to catch up to this reality or risk leaving its investors at a disadvantage. Furthermore, given that GBTC has been trading at a significant discount compared to its NAV for over a year now, it seems to me that approving Grayscale's application to convert GBTC to a spot ETF is very much in line with the SEC's mission of maintaining fair and efficient markets. Sincerely, David Matthias