May 23, 2022
Dear SEC, I am Bruce Allen from MN and I’m writing to support the conversion of Grayscale Bitcoin Trust (GBTC) to the first Spot Bitcoin ETF in the United States. I hold a small amount of GBTC in my 401k for exposure. The problem with GBTC is the underlying trades at a discount. Changing to an ETF is a benefit for those investors who don't want to actively maintain custody of BTC in a wallet and If this were a spot ETF it would peg to the underlying which benefits all investors not just small investors like myself. Sincerely, Bruce Allen