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 have been invested in GBTC for more than five years because I've always felt like they had a rock solid plan and process to offer me bitcoin exposure while greatly reducing my risk of account compromise compared to me opening a bitcoin wallet on an exchange somewhere. The price that I have paid for this privilege has been great, however, as high management fees have continued to erode my investment over time. A physically backed Spot ETF conversion would provide me with all of the positives I'm looking for, while eliminating all of the negatives. Please, please allow this conversion for ordinary investors like me - people who are smart savers but not millionaires- who would like a safe way to invest in this asset without paying exorbitant fees for the privilege. Thank you for your consideration, Nicholas Mariotti Fergus Falls MN