Feb. 22, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust ($GBTC). As an individual investor in $GBTC, I, in good faith invested in $GBTC and expected this to be a level playing field… But just the opposite is occurring as long as this product does not get converted to a spot ETF. The discount to NAV has jeopardized my entire financial future. Day in and day out I continue to see that GBTC is not on a level playing field vs. the futures ETFs that are in the marketplace. I also continue to grow frustrated when I see other countries approving a bitcoin spot ETF’s all while the American investor is getting left behind. Especially those in GBTC. I read all the documents and every press release of yours but it does not add up when a futures ETF is priced on the underlining asset of bitcoin just like a spot ETF would be. You’re so-called “investor protection” and not protecting anyone. And the perception is your only protecting Big Money & Big Banks. Not the guy on the street like me. I’m pleading with you from an individual investor’s standpoint to approve GBTC to be converted to a bitcoin spot ETF. My future and my family‘s future is dependent on this approval…! Thanks in advance for your consideration! Sincerely, Mark Gonda Sent from my iPhone