May 24, 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. The ETF would more efficiently track the price of Bitcoin, while effectively eliminating premiums and discounts. Subsequently, Grayscale will reduce its management fees, that currently stand at 2%. Approval will also allow for future conversion of the Grayscale Litecoin Trust (Symbol: LTCN), currently the world’s largest Litecoin fund, to the first Spot Litecoin ETF in the United States. It is in my opinion that both Bitcoin and Litecoin exposure to investors is important as the world is adopting a global, private (outside of government), digital, rule-based monetary system that will benefit the United States and the world. Thanks for considering my opinion.