Subject: File No. S7-24-15
From: Erik Shusted

February 21, 2020

While Leveraged ETFs are complicated instruments, regulations would just punish investors in these funds. There are viable long-term strategies that include leveraged funds, and these funds give investors access to a more passive way of gaining leverage. If this rule is intended to protect the investor, than perhaps you should take a look at options. I can today (if I was so inclined) buy an option that would expire worthless tomorrow. At least these funds have an investent strategy and are actively managed. If the SEC were to pass this new rule, then leveraged funds tracking an index may get off track as people withdraw their funds, and would cause undue losses. I whole-heartedly disagree with this direction.