Apr. 22, 2022
Dear Sirs/Madams, I live in Maine. I have owned GBTC stock since it was available as a publically tradable stock on the market. My wife and I own a very large amount of GBTC stock, as a percentage of our retirement savings. This is issue is important to us both! I support the conversion of GBTC to an ETF. By not allowing the conversion you are actually hurting both of us. Last fall you approved futures-backed Bitcoin ETFs, but refused to do spot Bitcoin ETFs. This is not fair. The discount to NAV in GBTC has been about 25% this year. This means that the price of GBTC is less than the price of Bitcoin, the asset itself. You can fix this! Please consider these issues when you decide. Sincerely, Ron Graham