May. 06, 2022
Dear SEC, My name is Richard Hahn. I am a retiree living in Florida. I am in favor of approving the Form 19b-4 that NYSE Arca filed with you to convert Grayscale Bitcoin Trust (OTCQX: GBTC) – the world’s largest publicly traded crypto asset fund, with approximately $30 billion in AUM, hundreds of millions in daily trading volume, more than 850,000 investors, holding approximately 3.4% of all Bitcoins outstanding – into a Bitcoin Spot ETF. This year, GBTC has traded at an approximately 25% discount to its NAV, which means the price of GBTC is less than the price of its underlying assets, Bitcoin. With approximately $30 billion in AUM, that results in approximately $7.5 billion of trapped value from existing U.S. investors. I believe it is time for the SEC to get "ahead of the curve" and provide constructive guard rails for Bitcoin adaption in the U.S. which will enable our country to be a key winner in what seems to be the inevitable rise of Bitcoin's worldwide role. Sincerely, Richard Hahn