May 27, 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. A Spot Bitcoin ETF would allow investors like me to: Diversify my investment portfolio into the world's most popular cryptocurrency Invest in a product that directly tracks the price of Bitcoin without having to hold Bitcoin Own crypto in the same way I own many other investable assets Additional thoughts: ETF allows for closer NAV tracking of the underlying asset making investment easier, and less expensive. I believe conversion would lead to lowering the Expenses per share as well. Last but not least I believe investing in the actual bitcoin is a safer option than derivatives, that's why I would rather buy GBTC ETF than current derivative-based ETFs. I am a resident of the state of Washington Sincerely, Milosz Goralczyk