Subject: File No. S7-24-15
From: Alexander Krupitsky

March 12, 2020

I've been using inverse and leveraged ETFs for many years to express my views on the market. I don't believe anyone needs third parties to decide which financial instruments they may or may not use. I certainly don't and I find the notion quite offensive. All that is necessary and sufficient is to have the investors to sign off on a fact sheet explaining the risks involved.