May. 06, 2022
Good morning SEC, I am a GBTC shareholder and I am writing to you to request that you turn GBTC into an ETF. I am choosing to hold some of my Bitcoin in GBTC because I don't trust myself with securing Bitcoin directly. However, GBTC is currently trading at a discount to its NAV. This isn't good for me in case I need to sell right now (which I may need to). Converting GBTC to an ETF would remove the discount/premium to NAV, presumably. I would like to buy more shares of GBTC but the discount is a concern. Yes, it's cheaper now with the discount but what if the discount gets worse? I only want to be concerned with the price of Bitcoin, not whether there is a premium or discount. Turning GBTC into an ETF and removing the discount/premium would give me more confidence in the Bitcoin I have in GBTC. Thank you for your consideration. Best Regards, Vince Benitez Specialized Testing 10600 S. Pioneer Blvd., Suite G Santa Fe Springs, CA 90670