May. 18, 2022
I am in favor of approving the Form 19b-4 that NYSE Arca filed with you to convert Grayscale Bitcoin Trust (OTCQX: GBTC) into a Bitcoin Spot ETF. This year, GBTC continues to trade at a substantial discount to its NAV, which means the price of GBTC is less than the price of its underlying assets. With approximately $30 billion in AUM, that results in approximately $7.5 billion of trapped value from existing U.S. investors. Converting to an ETF should bring the price closer to the NAV. Please approve this request. Thanks Craig McColloch