May 12, 2022
Re: File No. SR-NYSEArca-2021-90 Rel. No. 34-93504 Notice of Filing of Proposed Rule Change to List and Trade Shares of Grayscale Bitcoin Trust (BTC) under NYSE Arca Rule 8.201-E I am in favor of GBTC being converted to an ETF as it would provide investors with an accurate pricing structure thereby leveling the playing field for its investors. Currently it is trading at a discount to fair value because of it being traded over the counter. This is harmful to small retail investors and should be corrected by the SEC if it intends to stay true to its mission to protect the small investor. Thank you for your consideration. Also, you have approved several Futures ETFs which, as an underlying issue, have less protection by nature than a spot ETF held by the same institutions such as Fidelity or others. Thank you Sincerely, Kyle Svoma