May. 14, 2022
It is my opinion that Greyscales GBTC product is a financial technology leader and the best of what crypto has to offer for the American investor. Further, I believe Greyscale has been honest and a friend to the SEC, willingly providing transparency, unlike many other crypto organizations. I am concerned the manipulation the Sec is concerned about is being done right here under our noses at wallstreet. Please help protect the thousands of Americans GBTC investers and apply the rule change for a GBTC Spot bitcoin ETF. Dear SEC, I am Jeff, a 25 year RV Salesman from GA 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. 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. investor Jeff Spencer