May 12, 2022
Dear SEC, I’m writing to support the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. A spot Bitcoin ETF would more efficiently track the price of Bitcoin, effectively eliminate premiums and discounts with the current GBTC. A spot Bitcoin ETF would be cheaper for investors by reducing management fees. A spot Bitcoin ETF is also a safer investment strategy over futures Bitcoin ETF. I am currently a resident of NY. Sincerely, Nathan Forbes