July 2, 2018
I am writing in support of this application. Due to the media attention placed on Bitcoin in recent months main street investors are now in a much better place to evaluate the risks associated with the asset.
Risk will not be placed on the shoulders of smaller investors. This is because the ETF will not attract the interest of non-accredited investors due to the fact that a single share will be linked to 25 Bitcoins thus pricing out less sophisticated investors.
Continuing to refuse applications for Bitcoin ETFs means that investors are forced to contend with unregulated or less regulated providers in order to access the asset.
Furthermore, Bitcoin and Blockchain technology has the potential to positively impact the global economy and it is important that this innovation is not stifled.