Subject: File No. S7-24-15
From: Craig Beltrand

January 30, 2020

(1) I have been trading leveraged and inverse funds for over a year.
(2) See them as important tools in helping me protect my portfolio.
(3) I have 2 college degrees and more than capable of understanding these types of funds.
(4) I believe that free public markets are important.
(5) What exactly is the problem here, as this seems as though it should be a no-brainer. It seems that you do not see it this way, so, what am I missing?