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. I have been a GBTC holder for several years now. It used to be a great asset to hold to track what Bitcoin does. Now that ETF’s have opened up in several other countries the GBTC has been declining more than Bitcoin has, so investors are being hurt even more. The GrayScale Trust for Bitcoin should be allowed to convert to an ETF in order to have a simple & expected investment of following/tracking Bitcoin’s price action. In the US ETF’s are extremely common & Grayscale has many years experience managing these types of investment vehicles as well. Thank you for your time and consideration. Sincerely, Jose Morales