Jul. 8, 2025
To Whom It May Concern, I am an individual shareholder of OBTC. I have held approximately 18,000 shares of OBTC for the last two years, and am frustrated with the significant discount to NAV at which OBTC has traded for the last several years. Allowing OBTC to convert to an ETF will correct this problem, and is consistent with the SEC's permission to allow the competing bitcoin ETF, GBTC, to convert to an ETF. Please allow OBTC to convert to an ETF to eliminate the persistent discount at which OBTC trades. It is in the best interest of all interested parties. Sincerely, Eric Peterson