Apr. 22, 2022
Dear SEC, I’m writing to request your support for the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to a Spot Bitcoin ETF immediately. A year ago Canada authorized their SPOT Bitcoin ETF and Australia's will launch one next week (last week of April 2022). The SEC and the United States of America should approve of a SPOT Bitcoin ETF similarly. It is important to the investment community that the playing field be leveled with different options being available to us as investors so that we have fair/competitive options on the investment vehicles we choose to use. By only having the GBTC fund to have direct exposure to Bitcoin, without the added responsibility of using crypto exchanges and/or self custody, it has increased the fees that we are paying as closed end funds sell at either a premium or a negative discount, which again creates an unfair environment to us as investors. Give all investors the opportunity to participate in this rapidly growing marketplace and ecosystem. Consider this similar to physical gold and GLD ETF, the same should exist for Bitcoin. I reside in Wisconsin and appreciate your attention to this matter. Sincerely, Jeff Walters