May 10, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. With all of the blatant market manipulation occurring it is hard to believe anyone has the best interests of retail in mind. Every day another stock gets crushed. Upstart today is trading at a 10th of its high not too long ago. How do investors feel safe in a market in which such manipulation has occurred? They buy bitcoin. That's how. This needs to be converted because until it is, investors are getting manipulated through its discount. Sincerely,