May. 09, 2022
Dear SEC, I am [Brandon Jackson, 25 years old, Ecommerce Brand owner] from [Arizona] and I am in favor of approving the Form 19b-4 that NYSE Arca filed with you to convert Grayscale Bitcoin Trust (OTCQX: GBTC) – the world’s largest publicly traded crypto asset fund, with approximately $30 billion in AUM, hundreds of millions in daily trading volume, more than 850,000 investors, holding approximately 3.4% of all Bitcoins outstanding – into a Bitcoin Spot ETF. 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. I would like a way to recieve some exposure to this battle & time tested decentralized asset in the form of an exchange traded fund. I believe this conversion would have a net positive effect on the American people & reiterate America’s stance on being the land if innovation. Sincerely, *** [Brandon Jackson] ***