May. 07, 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. By continuing down the current path, the SEC is harming investors, making them step further out onto the risk curve, and investing in products that are more complex, less liquid, and less transparent. Please allow Grayscale to convert to a spot Bitcoin ETF and follows your mandate - protecting investors. Sincerely, Daniel Allen