Mar. 15, 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 live in Maryland, inside your jurisdiction. I believe you should convert this trust to an ETF because it trades on exchanges currently. US investors has access and can buy this security today. The SEC might already regulate the trust- to some degree. By permitting the trust to covert to an ETF, investors will realize the added benefits that securities trading under an SEC regulated ETF enjoy. The sheer size of the trust, which undoubtedly contains many US based institutional and retail investors should prompt the SEC to approve the conversion, ASAP. I hope you reconsider because surely regulating under an ETF structure protects US based investors much more than its current structure. Sincerely, Frankie