Apr. 22, 2022
In regards to File No. SR-NYSEArca-2021-90, please consider allowing the creation of Grayscale Bitcoin ETF because: Investors will certainly benefit from the existence of a bitcoin ETF ETFs almost always trade right at (or very closely to) their NAV. The price of a trust is often different from the NAV and can affect the returns that shareholders experience. ETFs create and redeem shares all the time, which allows them to trade right at NAV. Trusts have a fixed number of shares, which results in the deviations from NAV. An ETF is a better structure for holding bitcoin than something like GBTC. From an investor standpoint, that means it should be converted to an ETF. Thank you, Ryan Kremer A concerned investor