Jul. 20, 2018
To Whom It May Concern,
I have been following the SECs guidance on the Bitcoin ETF over the last 12-18 months and first wanted to thank you for the clear and transparent feedback and pragmatic approach so far.
I have noticed some of the main concerns for approval have typically been around liquidity and volatility. What I hope is understood is that ETF products will very much help these factors out over time. It is a chicken or egg scenario in that sense. ETF products and other sensible regulatory frameworks in this market will be required to fix some of the issues over time. This is all without mentioning the utility of the ETF itself -- an uncorrelated, commodity-like hedge that takes the best of traditional commodities and adds a layer of innovation.
A world where regulators and digital currencies can work together is one where "the people" will be empowered and liberties will be protected.
As exchanges have improved and have become far more compliant, the ETF is still a necessary piece to bring stability to the market over the next 12-18 months and beyond. As someone who has invested in traditional financial markets for years and who now has an affinity for Bitcoin and digital currency markets, I strongly support this approval.
This asset class is here to stay and we very much need your help, not only to protect investors, but to empower individuals.
Thank you,
Faizan J. Khan