Subject: File No. SR-BatsBZX-2016-30, Amendment No. 2
From: Patrick Miller

March 6, 2017

To whom it may concern at the SEC,

After reviewing the changes to the Winklevoss Bitcoin Trust Proposal, and Amendment No. 2 to SR-BatsBZX-2016-30, I wholeheartedly agree with BATS BZX Exchange, that "these proposed changes clarify and ... add additional detail to the Proposal and eliminate potential confusion."

Since I never commented on the initial filing, here are some additional thoughts below for your consideration:

Recently, the former Prime Minister, David Cameron, of the U.K. met with a premier company in the Bitcoin development industry, Blockchain, and discussed how blockchain technology can and will be used in a myriad of ways to benefit markets, society, and government as a whole. Mr. Cameron's words were, "It's so important we have some of those insurgent businesses right here in London and not just in the United States."

Blockchain technology is underpinned by the security of the Bitcoin network, which is the basis for the "Internet of Money" as described by renowned distributed systems and computer security expert, Andreas Antonopolous.

There are already a handful of investment products offered on various smaller markets. One is GBTC, an OTC offering by Grayscale, and the others are ETNs offered on the Nasdaq Nordic exchange, Bitcoin Tracker One, and Bitcoin Tracker Euro. There will likely be additional financial investment vehicles in the near future out of the U.K, Europe, Japan, and elsewhere.

Thus, I agree with the comments from Circle Financial dated February 3rd, 2017, that this is a critical moment for the U.S. to offer a trusted, safe, transparent, and regulated point of entry for mainstream investors to invest in this rapidly maturing asset class and technology. 


Patrick Miller