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 have been a holder of the Grayscale Bitcoin Trust for many years and see it becoming a valuable financial tool going forward. I am deeply concerned about the price to value ratio as it currently trades at a steep discount to book value. I believe this discrepancy would be corrected if converted to an ETF so that it trades close to its book value. Please feel free to reach out if you have any questions. Sincerely, Brett Fountain