May. 06, 2022
I write to you as a GBTC shareholder, in support of the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) — the world’s largest publicly-traded cryptocurrency fund — to an ETF. I have been an investor (or speculator if you prefer) in Bitcoin for 5 years now, and have known about it for 9 years. I have seen Bitcoin rise from it's roots as moonshot digital money brainstorm, to a legitimate digital asset with billions of dollars invested and traded daily. Let's face it, digital money and ledger technology is a revolution that will take over the word. That seems a foregone conclusion. Bitcoin is used by millions of people, it's made safe through it's cryptological technology and distributed nodes throughout the world. There has been rising usage across the world. Several nations have already approved spot price ETFs and even go so far as to adopt Bitcoin as legal currency. The US has already adopted a futures ETF, it's not that big of a leap to approve a spot ETF now. I believe the time is right, there is liquidity and safeguards in place. Grayscale is the largest fund, and I already trust them with my investment. Please approve their request to convert the fund into an ETF. Thank you.