May. 11, 2022
To Whom This May Concern, My name is Thomas Campanella from Massachusetts and I am in favor of approving the Form 19b-4 that NYSE Arca filed with the SEC 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. I am in favor of approving Form 19b-4 because: The ETF would more effectively track the price of Bitcoin, effectively eliminating discounts and premiums If GBTC shares are trading at a discount to NAV, all else being equal, they will increase in value upon conversion If GBTC shares are trading at a premium to NAV, all else being equal, they will decrease in value upon conversion Grayscale has committed to reducing management fees for GBTC GBTC would be uplisted from OTCQX to the NYSE Arca Sincerely, Thomas Campanella