Mar. 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 Wisconsin resident and both a bitcoin investor and shareholder of GBTC. Conversion of the grayscale bitcoin trust to an etf backed by physical bitcoin would be a tremendous benefit for current shareholders and new investors in the space. It would allow shares of GBTC to trade on the New York stock exchange and increase exposure to this new and important asset class. It would also allow the price of the gbtc shares to better track the price of the underlying bitcoin holdings, as well as reduce the management fees associated with share ownership. Moreover, other countries have already approved spot bitcoin ETFs that have been successful. The crypto sector is here to stay and I encourage you to consider approving conversion of GBTC to a spot bitcoin ETF so that US investors can benefit. Sincerely, James Vasta