May. 06, 2022
Dear SEC, I write to you as a GBTC shareholder, in support of the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) to an ETF. The rationale is straightforward. Investment vehicles such as GBTC already exist and therefore millions of investors now have an economic interest in cryptocurrency. The cat is out of the bag; millions of investors are exposed to cryptocurrency. Allowing for an ETF as an investment vehicle does not change this reality, it simply offers better protection to those investors by eliminating the additional volatility associated with discounts and premiums to the NAV of investment vehicles such as GBTC. Take a step forward to protect the interests of investors. Approve the conversion of GBTC (or similar) to an ETF to protect the interest of investors. Sincerely, Greg Walter