Jun. 17, 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 live in Leesburg Virginia and have invested in BTC and ETH since the Fall of 2014, GBTC in my IRA account since Feb 2020 and ETHE in my IRA account since February of 2021. I believe that BTC is, by far, the best long term investment of all the asset classes precisely because of the high volatility. I encourage you to allow GBTC and ETHE to convert to the ETF format. This will make it a lot easier and cheaper for investors to participate in the long term upside potential of these two crypto currencies. It will also allow the US to compete for leadership in this new asset class. It will be important for the ETF to properly disclose the extreme volatility of the asset class both in the upward and downward direction. I also note that the conversion to ETF format will generate a considerable tax liability for the current holders which will greatly benefit the Government deficits. Sincerely, Jay Pisula Leesburg, VA