May. 06, 2022
Dear SEC, I hold a significant amount of GBTC both in my retirement account and my individual account. I am writing to show support of the conversion of Grayscale Bitcoin Trust to an ETF. I have yet to understand why a Futures ETF was approved without a spot ETF getting approved in the US. Several other countries have spot ETFs and I fear US citizens are finding their way to those & without the protections that you provide. GBTC is the world’s largest publicly-traded cryptocurrency fund, with hundreds of millions in daily trading volume. It holds approximately 3.4% of all Bitcoins outstanding, and is held by more than 850,000 investors, like me. I’m writing from Missouri, with gratitude for the opportunity to express my view to you and with the hope and expectation that you will approve this conversion and protect the interest of investors. Sincerely, Rick Marchbanks C.E.O.