May. 10, 2022
Dear sir or madam, I've been informed that the case mentioned in the subject header is under review and public comments are being considered. As a shareholder of the Grayscale Bitcoin Trust (GBTC), I fully support the motion to convert this asset into an equity-traded fund. Due to ongoing regulatory constraints the fund is trading at a discount to the underlying NAV. This is a disservice and , in general, drives investors like myself out of the more transparent, regulated markets. I believe investors will be better served by an ETF that can be used to invest in bitcoin that provides transparency into the underlying asset and a clearer regulatory framework. Regards, Seth Kleman