May 23, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. It’s time to be sensible about providing investors with a spot-based BTC ETF, which is superior to futures-based alternatives that have greater slippage, cost and potential for adverse outcomes associated with leverage in those instruments. Sincerely, Matt Matt Russ