Jul. 18, 2018
To whom it may concern,
Many institutions - including pensions, sovereign wealth funds, and endowments - and high net worth investors are waiting for secure ways to buy, sell and hold bitcoin.
Owning bitcoin in the traditional way involves managing private keys, typically using a cyrptographically secure hardware "wallet" - an offline computer. This restricts the ability of institutions to invest in bitcoin, as it requires trusting one/a small group of individuals to securely house the bitcoins, an untenable risk for conservative investment boards.
Considering the insurance this ETF would have, and the custodian solution, this ETF would allow investors to engage with bitcoin utlizing trusted and traditional investment mechanisms. It is also critical that this ETF maintains a physically backed bitcoin, which will add liquidity and stability to the market over the long term. This ETF will signal a certain maturity in the blockchain space, and assets from various industries will follow, and will result in more capital inflow. I strongly encourage you to consider approving the ETF.
Thank you,
David Teykaerts