Jul. 18, 2018
[Release No. 34-83520; File No. SR-CboeBZX-2018-040]
Dear Sir/Ma'am,
Here are my comments in favor of opening trading for ETFs by the CBOE.
1. Availability of this additional asset class, to allow for a broader/mixed portfolio of investments
a. Minimize the impact/risk of any potential market crash in the future ... stocks, housing, etc.
b. As BTC and most other cryptocurrencies have a fixed supply, real value increases as ownership increases, and less impact from inflation vs fiat currencies
c. True ownership and vested interest of the cryptocurrency vs. betting against the asset in the futures market.
2. Fast track and implement increased efficiency and cost cutting across the financial and multiple other business sectors
a. Decrease/eliminate credit card costs incurred by the vendor/consumer ... allows for increased profit for any business and lowered pricing for the consumer. This also allows for additional services and pricing structures/offers to be provided by the vendor to their consumers.
b. Decrease total employees allocated to credit card fraud departments, etc. and shift that headcount more toward Sales/R&D/etc. to grow the business ... see Overstock.com cryptocurrency real-world use case
c. Decrease time and cost of cross-border transactions ... around the world in seconds/minutes vs. days, less hops to final transfer destination, etc.
These are only a few points ... there are a lot more justifications, business cases that apply to a digital currency/tokenized world wide economy.
Regards,
Drew