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. The GBTC fund is consistently running a significant discount to the underlying Bitcoin price. That and the management fee for this fund versus a spot ETF has significantly harmed my retirement portfolio. I ask that you approve converting the GTBC trust to a spot ETF. There is not a significant risk with a spot ETF and not approving one is harming investors like myself. Several other regulators globally have approved spot ETFs already and with price discovery possible for Bitcoin via several of the regulated products available there is no longer a reason to not approve spot ETFs for investors in the United States. Sincerely, Charles Thomasma Howell, MI