Subject: File No. SR-CboeBZX-2018-040
From: David Wheat
Affiliation:

Jul. 18, 2018

I fully approve of a cryptocurrency ETF, however I think it is important for the SEC to understand the implications of the decision. Cryptocurrency is a highly speculative investment and therefore creates a bubble. In normal capital markets, the board of directors, auditors, negative press etc. keep the runaway inflation of securities in check.

The cryptocurrency market is not so rational. "FOMO" as a forbes article just quoted it, the fear of missing out, can drive a bubble's inflation to dangerous areas. There needs to be a system of checks on the "FOMO" or those who do not think critically will lose

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David A. Wheat
Accounting & Finance