May. 17, 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 allow investors like me to: Diversify my investment portfolio into the world's most popular cryptocurrency Invest in a product that directly tracks the price of Bitcoin without having to hold Bitcoin Own crypto in the same way I own many other investable assets Own a spot based ETF with actual BTC backing instead of a product based solely on derivatives. Trust in the responsible custodianship Greyscale has clearly displayed over the years Benefit as a retail investor from the current disparity between market price and NAV I am a resident of the state of California. Sincerely, Marquis Mallen