February 23, 2022
Dear SEC,
I write you this letter to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) into an actual Spot ETF. Why is every other country getting spot ETF's but yet we only get a futures ETF? When I first bought into GBTC over a year ago, it was trading at a premium, and now is trading at a massive discount. How does this help the small investor? Neither GBTC or the futures based ETF offers a real solution. We need GBTC to convert into a spot ETF so that it can trade at NAV. This will provide consumer protection that we currently lack.
Thanks and I appreciate you taking the time to read. David N