Apr. 22, 2022
Dear SEC, I am writing as a GrayScale Bitcoin Trust shareholder to express my 100% full support for converting GBTC to a spot Bitcoin ETF. I am recently retired in California. I am also a very experienced, conservative investor. I have a small percentage of my assets invested with GBTC. Some of the purchases were bought at a premium; some of the purchases were bought at a discount. It makes no sense to me that GBTC cannot structure their fund as an ETF in order to reduce or eliminate these swings between premiums and discounts to NAV. Allowing a spot Bitcoin ETF will lessen or eliminate the premium/discount element of risk for folks like myself, who want to safely own exposure to Bitcoin without the need to self-custody the cryptocurrency. I hope that you will consider the benefit to so many citizens such as myself. Sincerely, Terry Koressel Mission Viejo, CA