May. 10, 2022
To whom it may concern, I am a long-term owner of GBTC and I would like to express my strong support for the conversion of the Greyscale Bitcoin Trust into a “physically backed” ETF. It appears suspicious and unfair that the SEC has not already approved an ETF structure that more effectively tracks the price of the underlying asset, minimizes discounts and premiums; thus reducing the risk of market manipulation. If the SEC wants to stand behind its public claims of “investor protection and transparency” then it should back its statements with specific actions like approving an ETF that tracks the underlying spot price of the Bitcoin asset. I implore you to act in accordance with your stated goals, and not lose the public’s trust. Sincerely, Chad Cook Individual Investor