Jul. 18, 2018
Public interest in Bitcoin and other cryptocurrencies is only going to grow and it's time there was an SEC-sanctioned path for entering the market. Though owners of Bitcoin should ideally be controlling their own private keys, many retail investors lack the knowledge or the confidence to do this correctly. Currently their only alternative is to leave their coins under the control of online exchanges, many of which are unreliable or fraudulent.
Until managing private keys gets easier and/or the public acquires the necessary technological literacy, investors need a middle-ground option. An ETF could fill that void beautifully. Not only would there be a regulated, mainstream approach to storing coins, but investors could gain exposure to cryptocurrencies through their retirement accounts, and the reporting of cryptocurrency capital gains to the IRS would be far more straightforward.
Further, this huge flood of institutional money into the space could act as a buffer for volatility. Bitcoin would become harder to manipulate and its usefulness and legitimacy to the world would increase. This would make the ETF more valuable and the feedback loop would continue.
Please consider making this happen. The country needs it and it needs it soon.
Andrew Clarke