May. 06, 2022
Dear SEC, I write to you as a longtime GBTC shareholder, who is highly in support of the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) to an ETF. I feel it is highly hypocritical to approve futures-backed Bitcoin ETFs, which are based on physical BTC when all is said and done, but not to approve a spot ETF that directly owns this commodity. By not approving this conversion, you are not protecting me, the investor – the very person you were appointed to protect. I’m writing from Michigan, with gratitude for the opportunity to express my view and with the hope that you will approve this conversion and protect the interest of investors. Sincerely, Brent Raymond