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 am a resident of Los Angeles, California and I began investing in Grayscale’s Bitcoin Trust 2 years ago for exposure to Bitcoin through my Roth IRA. In that time, Bitcoin has increased in price more than 3 fold while my shares of GBTC have not. The only other option for gaining exposure to Bitcoin through a Roth IRA is with a futures product that is not safe or long term stable (BITO) or through investing in companies like Microstrategy. This is NOT right and the American public deserves a 1:1 ETF with direct exposure to Bitcoin. Sincerely, Jeffrey Handel