Subject: File No. S7-24-15
From: Adam Carey

March 12, 2020

It is utterly ridiculous that the SEC would throw up roadblocks for buying inverse funds. Funds such as SPXS, VIXY and TVIX have given my 401K portfolio vital protection in the past in unique ways not offered by other types of funds.

During the current Coronavirus outbreak, my investment holdings in inverse funds functioned as a counterweight to everything else that was plunging and allowed me to buy back into the market once a hefty correction had been made. I did not need to join the masses selling out equities BECAUSE I leveraged my inverse funds as a braking system.

Please refrain from making it more difficult to purchase these inverse funds on the open market. They are a necessary asset class in a larger toolset and the SEC should not be playing guardian or nanny.