Subject: File No. SR-NYSEArca-2021-90
From: Miller Insurance James Miller
Affiliation:

Apr. 22, 2022

 


Dear SEC, 

As a GBTC shareholder I am in support of the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) to an ETF. As an OTC security I have less rather than more protection, transparency,and liquidity. 

Last October, you approved futures-backed Bitcoin ETFs, but those products also have cost issues due to the price and inaccuracy in futures markets. 

the discount to NAV in GBTC has been around 25%, on average, this year. Approving the ETF would increase liquidity and help shareholders, like myself,a California Resident. 

James Miller, CPCU
James Miller Insurance Agency, Inc.