May. 10, 2022
Dear SEC: Thank you for your continued investor protection initiatives. As a GBTC shareholder based in New York State, I support conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) to an ETF, in order for the SEC to regulate GBTC and, as a result, afford investors the protections afforded by the SEC regulatory framework. The SEC’s move to regulate GBTC is consistent with the SEC’s approval of futures-backed Bitcoin ETFs. Both vehicles allow investors to invest in Bitcoin. Market dynamics can be stabilized and equalized under a SEC regulatory framework. I appreciate the SEC’s time to receive comments from market participants. Yours truly, Catherine Napolitano