July 12, 2018
Dear SEC,
I am writing with respect to the proposed Bitcoin ETF with a highly positive outlook for both the technology and the SEC's participation in this rapidly developing and revolutionary industry.
As a high net worth FOREX trader I have significant exposure to all facets of financial markets and in the last year none have been more interesting than Bitcoin. I am also aware this is consistent for a significant number of my peers, also.
As I am sure you are well aware of, the CTFC recently stood in front of the UN general assembly to announce that Bitcoin will play a role Global economic practice, their exact words are shown below:-
"But virtual currencies may – will – become part of the economic practices of any country, anywhere."
This is not an ambiguous statement by any means and has significant implications on all of us at the forefront of financial services and the surrounding industry.
USA has the opportunity to be at the forefront of this financial revolution and to take early control over the space by allowing their investors early exposure. This is of high priority because this is a space akin to the beginning of the internet era - Countries that try to stifle inevitable technological progress will be forced to allow their population access whether they initially chose to or not.
Given the approval of Bitcoin derivatives, including Bitcoin Futures, the anticipated and natural progression is the approval of the first US based ETFs.
Sincerely,
Mr. Kalpetan