Mar. 05, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC) to a spot-price Bitcoin ETF in the United States. I am a retail investor in the US with a good portion of my savings in retirement accounts. I believe that Bitcoin is an asset that will grow in value into the future and I would like to maintain a portion of my investments in this asset class using my existing retirement/brokerage accounts. GBTC gives me some exposure to the asset but the price variance has often varied dramatically to the underlying asset. Converting GBTC to a spot-price Bitcoin ETF would eliminate this variance and allow me and other retail investors the chance to easily and reliably maintain exposure to the actual value of Bitcoin using existing brokerage or retirement accounts. Sincerely, Trevor Heiner