Mar. 31, 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 US. I used to reside in California with my family but now am living to Hong Kong. The reason why I strongly support the conversion of GBTC to Spot BTC-ETF is as follow: 1. Investors can get exposure to a new asset class but don't have to learn the highly cumbersome procedures of investing in BTC, which discourage most investors. 2. that GBTC is much more affordable at a fraction of the cost of one BTC. 3. ease of buying/selling and even trading just like investing in a stock which most people are much more familiar with. 4. It also affords greater transparency with the government and IRS. 5. and was also advised that there may be additional tax advantages over investing in BTC/cryptos, and will consult with my CPA later on. I hope and trust that you will give your expeditious approval of our request of the said conversion, it would be a win-win benefit for all sides - the issuing institution/s, the government/IRS and the common everyday investors. My sincere thanks, Velda