May. 07, 2022
Dear SEC, I am a union aircraft mechanic from Oregon, and I am writing to express my support for approving the Form 19b-4 that NYSE Arca filed with you to convert Grayscale Bitcoin Trust (OTCQX: GBTC). I am a holder of GBTC, and this issue affects me personally. 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, including me. Thank you for your consideration on this important matter. Sincerely, Jim Durham