May. 07, 2022
I am writing to you as a GBTC shareholder, in support of the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) — to an ETF. I feel strongly that approving this conversion helps protect me, the investor – one of many you were appointed to protect. GBTC as an ETF provides more safety and security for investors that seek to gain exposure to the Bitcoin without purchasing it directly. Furthermore, the discount to NAV in GBTC has been around 25%, on average, this year. This means that the price of GBTC is less than the price of Bitcoin, the asset itself. I appreciate your consideration, the opportunity to express my view, and with the hope that you will approve this conversion and protect the interest of investors. Thank you in advance Aaron B.