May. 10, 2022
Dear SEC, This email is to request your support for converting GBTC to an ETF as soon as possible. As regulation has made it quite difficult to buy Bitcoin within IRAs, I purchased GBTC in my IRA well over a year ago. As GBTC has not yet been approved for ETF status, the fund went from trading at a slight premium to trading at a deep discount to net asset value. This caused significant paper losses in my investment - losses over and above the underlying Bitcoin volatility. Although I am fully comfortable with the associated volatility of Bitcoin, I am not comfortable with enduring an artificial, regulatory driven discount to my investment. Please move forward with approval as fast as possible. Thank you, Greg Daugherty