May. 15, 2022
Hello SEC Folks, I hope all is well! My name is Jeff Baumann; I'm a shareholder of the Grayscale Bitcoin Trust. I am submitting this comment in support of Grayscale's endeavor to transform the Trust (GBTC) into an ETF. My support stems from a belief that undistilled market information leads to better outcomes for consumers, and a healthier market generally. Presently, the Grayscale Bitcoin Trust, whose sole asset is bitcoin, trades at a discount relative to its underlying sole asset. By converting GBTC into an ETF, I understand the shares will more accurately reflect the actual market value of the asset held by the Trust. This is a positive outcome for the reasons above; I urge you to permit this change. Thank you for your time and consideration, Jeffrey M. Baumann, Esq.