Subject: File No. S7-24-15
From: Donald Byrge

February 20, 2020

There is not any problem that needs to be solved with respect to leveraged and inverse ETFs. Leveraged and inverse ETFs are important to me and allow me to achieve enhanced returns and also help me to protect my portfolio.

I have actively traded and invested for over 30 years and am certainly capable of understanding how leveraged and inverse ETFs perform under various market conditions. I do not need a third-party evaluating my capability to do so and potentially preventing me from buying and selling these financial instruments.

This is a free country with free public markets, and the government should not impose needless and burdensome restrictions on investor choice.

Thank you for your thoughtful consideration.