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. I live in the State of Vermont, and I have owned GBTC for several years in my 401(k) account. I have watched the growth in bitcoin trading liquidity 24X7X365 globally during the past few years, and I cannot see any logic for not approving the conversion of GBTC to a spot ETF. Please help US investors “keep up” with Canada, Australia and other international markets and avoid unnecessary fees and discounts by approving the conversion of GBTC to a spot ETF. GBTC is the largest bitcoin fund available to trade in US brokerage accounts, larger than many stock mutual funds. The fact that there is a such a large discount to NAV when the underlying trades 24X7X365 is unnecessary. Sincerely, H Romaine