Subject: “File No. SR-NYSEArca-2021-90”
From: Paul Stephenson
Affiliation:

May. 08, 2022

I am a sophisticated investor by any definition of that term. I own GBTC because I want to have exposure to Bitcoin without jumping through all the hoops and expense of investing directly. It will always be a very small portion of my invested assets. Allowing GBTC to convert to an ETF will allow me to have direct exposure to this asset class. I am well aware of the risks involved in this investment. 
thanks for the consideration. 
paul stephenson