May. 10, 2022
To whom it may concern: I am a small business owner, father, tech enthusiast and someone who is trusted by my family and extended family to provide reasonable knowledge about investing and long term asset management. A small part of my portfolio is in bitcoin holding via GTBC, Grayscale Bitcoin Trust. Holding btc directly has many issues, especially planning on what would happen if I am incapacitated or dead due to all of the privacy measures needed to hold it securely. It is extremely fair then, in my experience, to hold GBTC in lieu of BTC despite their fees because of the ease of use and the way that a stock market holding has known legal path for inheritance or disbursement in the case of my demise. As someone who thinks that BTC also has a purpose in this world, I believe that GBTC should be allowed to convert into a Bitcoin Spot ETF, which would be known as OTCQX. As an investor, this would move it closer to holding actual BTC and better and more transparently represent its true value, whether that is a premium or discount. I urge you to approve this application so that it can be converted into a spot ETF. Sincerely, Nat J