Apr. 26, 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 United States. Housing is overpriced, stocks are inflated, and the US Dollar is suffering from high inflation. Even bonds are suffering. So what is an investor to do with their money? Bitcoin is currently my preferred savings vehicle and I've been investing in it for 5 years. However, due to it being unavailable in my 401k account, I instead purchased shares of GBTC to gain exposure. However, due to GBTC not being an ETF, the premium of the shares to NAV has dropped to a deep discount. This has been a very costly investment for me. I fully believe in Bitcoin and it provides Americans with an incredible alternative to other assets which are highly inflated. Please approve GBTC conversion to an ETF to provide US investors with a safe option to invest in Bitcoin. Sincerely, Eric Zimmerman