Jun. 14, 2022
Dear SEC, I am writing from California to support conversion of the Grayscale Bitcoin Trust (GBTC) to an ETF. I’ve had it for several years because I’m not a big trader and just want a simple exposure to Bitcoin without jumping through all the hoops of custodianship. It’s kind of a pain that now Vanguard won’t even let me buy any more (only sell it), as it’s sort of the red-headed stepchild being only available OTC. It’s also a pain that Grayscale charges such a high fee (but I figured it is dwarfed by the potential movements in Bitcoin cycles). Maybe being an ETF would force them to get more competitive on fees. A fund on Bitcoin futures, which is already approved, seems way more scary and wacky at this point than a simple fund of Bitcoin. And there’s MSTR, which is even more volatile than Bitcoin because it’s a leveraged bet. A non-leveraged fund seems pretty tame at this point. Thank you for your time. Sincerely, Elaine Lissner ~~~~~~~~~~~ Elaine Lissner Palo Alto, California