May. 16, 2022
Dear SEC, I am a 36-year-old Data Scientist from Switzerland and I am in favor of approving the Form 19b-4 that NYSE Arca filed with you 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. It seems the right thing to do and allows in my view the participation and price finding support for a wider array of market participants (small folks, less technical ones) This year, GBTC has traded at an approximately 25% discount to its NAV, which means the price of GBTC is less than the price of its underlying assets, Bitcoin. With approximately $30 billion in AUM, that results in approximately $7.5 billion of trapped value from existing U.S. investors. Sincerely, Daniel Mueller ---------------------------------------------------- Dr. Daniel Müller Ph.D. ETH Zürich ▪ M.A. HSG ▪ CEMS MIM Business Development F: +41 (0) 79 832 92 98 M: dm@sgv.vc SPYGLASSVentures Churerstrasse 47, CH-8808 Pfäffikon, Switzerland Diese E-Mail kann Betriebs- oder Geschäftsgeheimnisse oder sonstige vertrauliche Informationen enthalten. Sollten Sie diese E-Mail irrtümlich erhalten haben, ist Ihnen eine Kenntnisnahme des Inhalts, eine Vervielfältigung oder Weitergabe der E- Mail ausdrücklich untersagt. Bitte benachrichtigen Sie uns und vernichten Sie die empfangene E-Mail. Vielen Dank. This e-mail may contain trade secrets or privileged, undisclosed, or otherwise confidential information. If you have received this e-mail in error, you are hereby notified that any review, copying, or distribution of it is strictly prohibited. Please inform us immediately and destroy the original transmittal. Thank you for your cooperation.