May. 04, 2022
Dear SEC, I invested a substantial portion of my 401k savings in GBTC in early 2021. I was specifically concerned that loose fiscal and monetary policy in the United States would lead to a devaluing of the dollar and saw investing in Bitcoin as a hedge. The trust structure of GBTC was an inferior product for investing in Bitcoin, but it was the only option available at the time for 401k assets. Had GBTC been a spot ETF, my savings at this point would have increased by 5%. Instead, within the trust, I have lost nearly 40% of my investment. Please approve the conversion of GBTC to a spot Bitcoin ETF. My retirement depends on it! Best regards, Andrew Hill Bend, Oregon