Sep. 22, 2018
Dear SEC: I write this email to encourage you to grant approval of the VanEck Bitcoin ETF scheduled for September 30, 2018 decision. I have been researching Cryptocurrencies since 2014 and I am an active purchaser of cryptocurrrency. What truly makes the VanEck ETF different than other ETF applicants such as the Winklevoss (Gemini) ETF is that the VanEck ETF will be fully backed by the full faith and credit of physical Bitcoins or at least cold storage of bitcoins in off-site storage facilities. Such a system will ensure that all derivative products in relation to the Bitcoins would be insured and would be buttressed by the said Bitcoins. It is time for The United States to take charge of the cryptocurrency space. We should be setting the agenda for the industry. Imagine other countries that are substandard to the United States are charging ahead with innovations ahead of the United States. We are relinquishing much real estate to the European Union and Asian Pacific Rim Countries. America prides itself on innovation and we should be leading the charge into the cryptocurrency space. Even Jamaica is partnering with Canada to create a Cryptocurrency Exchange, Venezuela is forging ahead, Iran and Turkey have embraced cryptocurrency like never before. If the United States is to forge ahead and carve a foothold in the cryptocurrency space, now is the time. In light of China’s failure to embrace Bitcoins and other cryptocurrencies, it leaves the door open for the United States to forge ahead and do so. The SEC’s approval of the first ETF for Bitcoins would sound a salvo heard around the world that will have far reaching ramifications in light of the pending trade war with China. We cannot ignore the financial economic environment in which we currently live. An ETF would bring in mass revenue to all stakeholders in the United States from cryptocurrency owners to crypto-exchanges to insurers of cryptocurrency to those who create derivative products. I implore the Committee of the SEC to approve the VanEck Bitcoin ETF and finally set us on the path to dominate the world of cryptocurrency finance.