Feb. 23, 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 conversion is in the best interests of investors. It will eliminate GBTC’s severe NAV discount and substantially lower fees. It will also provide a far superior alternative to the futures-based bitcoin ETFs already approved by the SEC. Thank you for your consideration. Sincerely, Andrew Rees