Subject: File No. SR-NYSEArca-2021-90
From: Lisa Trail
Affiliation:

May. 08, 2022

The conversion of Grayscale Bitcoin Trust (GBTC) to an ETF is awaiting SEC approval.
As a GBTC investor, I urge you to move forward with the approval.
This would cause the shares to trade in line with NAV, which is what is expected of an investment in the market.

Regards, 
Lisa Trail