Feb. 22, 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. Cryptocurrency adoption has become mainstream, and investors are finding their way to BTC and other cryptocurrencies through various exchanges. In our opinion it would bring a value to both the institution and individual investor for the SEC to begin approving vehicles through which investors can access BTC in a more efficient way through a regulated ETF. The trusts currently available are providing shadow access, but in a way that can diverge significantly from the actual price of the underlying holding. ETF approval, and specifically the approval of GBTC to convert to an ETF format will help resolve the ongoing NAV disparity. Sincerely, Doug Jones CFP® Precision Wealth Strategies, LLC