November 4, 2018
Dear SEC,
I strongly support the approval of the Bitcoin ETF's. Bitcoin technology is now ten (10) years mature and continuously improving. For ten years, this digital asset has been in use in multiple countries for exchanging or purchasing goods. For ten years, this digital asset has survived, contains value, and owned by many individuals and companies, just like gold and silver. There are several trusts available around the world that many are investing in today, such as the Bitcoin Investment Trust (GBTC) in the US, and the FBC Bitcoin Trust (FBCBT) in Canada. The derivatives market contains the CME bitcoin futures, Cboe bitcoin futures, LedgerX bitcoin swaps and options contracts, and Cantor Exchange self-certified bitcoin swaps contract. All of these are cleared products and are market regulated by the CFTC (Ref.1). Recently, a crypto asset custody service opened for business in the US to serve large financial institutions. All of these existing financial systems support the blockchain technology as being a secure investment asset supported by global investors and regulatory entities; therefore, I believe the SEC should be proactive in being among the global leaders to acknowledge that bitcoin is regulated and mature enough for the US markets by approving the Bitcoin ETF's. Thank you for your time and consideration.
Sincerely,
B. Vicente
Affiliation: Software Engineer
Ref.1: Attachment, PDF file of VanEck SolidX presentation