Apr. 24, 2022
Dear Madam and Sir, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), to become a Spot Bitcoin ETF in the United States. It is vital to our national interest and democracy that we stay in the forefront of this technology innovation and to unlock this instrument while maintaining governance in the structure of an ETF, otherwise we risk outflow of capital to competing countries which are also trying to demonstrate their abilities to provide similar offerings. Secondly, this move is in the interest of investors by significantly lowering the management fees while tracking the price of the underlying in a much more realistic manner. I urge the SEC to take this matter as priority and thank you for your continued support in working to create a fair market and in preserving the strength of our country. Thank you, Andy Hui