Apr. 22, 2022
Dear SEC, I write to you as a shareholder of 1650 GBTC shares, in support of the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) to an ETF. By not approving this conversion, you are not protecting me, the investor - allowing a NAV discount that is costing me $14k of market value. I found GBTC as one of the earliest ways to gain exposure to this asset class for my family through my taxable and retirement accounts. Exposure to Bitcoin for investors is incredibly important and ETF is necessary so my 401k will gain means of exposure. Our country should be able to be a leader of spot ETF exposure and not be limited with only a more risky futures only ETF. I’m writing from Hoover Alabama, with gratitude for the opportunity to express my view to you and with the hope and expectation that you will approve this conversion and protect the interest of investors. Sincerely, Brian Frey