May. 10, 2022
Dear SEC, I am a 45 year old lover of the USA. I am a former commercial real estate broker who recently vacated Seattle to live in Virginia. I would really like the US to show the rest of the world and ZOOM out on Bitcoin and lead the world forward. Bitcoin is so hard to understand but if the brightest of our elected officials studied Bitcoin for 1000 - 5000 hours they would then reaalize and believe this will not only keep the US in the #1 spot worldwide along with it helping all other countries. Let’s lead by example! I am in favor of approving the Form 19b-4 that NYSE Arca filed with you to convert Grayscale Bitcoin Trust (OTCQX: GBTC) – the world’s largest publicly traded crypto asset fund, with approximately $30 billion in AUM, hundreds of millions in daily trading volume, more than 850,000 investors, holding approximately 3.4% of all Bitcoins outstanding – into a Bitcoin Spot ETF. This year, GBTC has traded at an approximately 25% discount to its NAV, which means the price of GBTC is less than the price of its underlying assets, Bitcoin. With approximately $30 billion in AUM, that results in approximately $7.5 billion of trapped value from existing U.S. investors. Sincerely, D. Tony Miltenberger