Apr. 25, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. My family currently holds GBTC in a sheltered account. However, in its current format (with its attendant premiums and discounts), GBTC only indirectly tracks its underlying asset (Bitcoin). We would prefer to invest more directly in digital currencies (in this case Bitcoin), but are frustrated by the limited options available to us. An ETF version of GBTC would accomplish our investing goal, while retaining the protections of investing through a trusted and registered custodian. Regards, Bruce Harney