Apr. 08, 2022
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. 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. My family currently holds GBTC in a sheltered account. However, in its current format (with its attendant premiums and discounts), GBTC only indirectly tracks its underlying asset (Bitcoin). We would prefer to invest more directly in digital currencies (in this case Bitcoin), but are frustrated by the limited options available to us. An ETF version of GBTC would accomplish our investing goal, while retaining the protections of investing through a trusted and registered custodian. Digital assets, like Bitcoin, offer a brand new potential pillar of support to the US financial system. However, because digital currencies are a new asset class, I feel that many average (retail) investors may be too intimidated to invest on their own through a digital currency exchange, and are looking for access through reliable, vetted vendors. Creating a Bitcoin Spot ETF democratizes access to the digital investment realm. Sincerely, Laura L. Perrin Morristown, NJ