May. 09, 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. Gbtc management fee is high and would be much smaller if it was a spot etf. Im unable to sell the asset for fair market value because of a 25-30% discount. Its not right that I cannot sell the asset for its actual value when the sec can make this happen for me and other gbtc investors. I imagine alot of retail investors are in this situation. Sincerely, Benjamin Cresswell