Subject: File No. SR-NYSEArca-2021-90
From: Matthew Forbes
Affiliation:

Mar. 01, 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 originally invested in GBTC as a safer alternative to largely unregulated crypto exchanges. However, since there is not a spot ETF, GBTC premium/discount does not track to NAV 1:1. As a result, it is currently -24.45% to Bitcoin. By approving GBTC spot ETF, it allows traditional investors a safer and regulated option to invest confidently in crypto.

I appreciate your consideration and time.

V/R
Matthew D. Forbes