Jul. 18, 2018
To whom it may concern,
I am writing to urge you to approve the Bitcoin ETF intended by Cboe. Though only an individual investor, I represent many who are interested in this new asset class as we see the potential for a weakened U.S. Dollar in today's geopolitical climate.
A lot of money is currently flowing into an under-regulated and highly speculative space. As public awareness increases, the breadth of the investing pool will continue to grow and a significant number of Americans will become interested in cryptocurrencies. A regulated ETF will make available lower-risk opportunities for new investors in Bitcoin, and will also represent the achievement of a milestone on Bitcoin's path to maturity, one that will both provide a stabilizing force on the market and draw significant institutional investment.
Furthermore, Bitcoin's underlying blockchain technology could become the engine that changes our landscape as significantly as the internet did. Entire industries will emerge around the development and refinement of distributed ledger technologies, and they'll want to set up in a cryptocurrency-friendly environment; we do not want to drive away the players of the next revolution.
We may be witnessing the beginning of a sea change in global commerce and control of wealth, and we do not want to fall behind in the race to come. A Bitcoin ETF will help secure our position.
Respectfully,
Kevin Savino-Riker