Mar. 25, 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’m just a regular guy and don’t have the time and expertise to buy/sell bitcoin directly and secure it properly on devices. An ETF is something I understand and all the hard parts of crypto investing are abstracted from me. With an ETF I can easily get exposure in my portfolio to bitcoin AND have it properly valued. Without the ETF structure, the value of GBTC’s shares don’t accurately track the value of the underlying assets. Please allow for GBTC to convert to a bitcoin ETF. Sincerely, Thomas Shane Patton