Apr. 22, 2022
Dear SEC, I write to you as a GBTC shareholder. I do not support the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC). While many may support the conversion, I view it simply that the company chose its structure and trading format from what was available. Should it desire a different, permitted format, then it can close the current and open the alternate. I'm sure that is a difficult process but it seems reasonable to me. I trust that the SEC would permit a spot ETF for any, established cryptocurrency. Or perhaps one that has some asset backing it. Yet, bitcoin itself is proving to be a vehicle for exchange, used by the public. That in and of itself is an asset. Therefore, while I don't support the conversion of Grayscale to Grayscale Bitcoin Trust, I do support spot ETF's for established cryptocurrencies. Sincerely, Jeff Brown