July 11, 2018
I am in strong support for the approval of the CBOE's Bitcoin ETF proposal. This could be a safer way to allow all investors to be able to invest in Bitcoin and blockchain technology especially considering the multiple amount of hacks from the many cryptocurrency exchanges. I am in support of regulation as I believe it is key for potentially paving a better future for cryptocurrency and blockchain technology and decrease the number of hacks on exchanges. I also agree that exchanges should be more compliant and transparent. I think investing in cryptocurrency is very similar to investing in the stock market, but instead of purchasing or selling shares of a company's stock, you are purchasing or selling a company's coins/tokens. The cryptocurrency sentiment is currently very low comparing previous price history and volume. Approving of this ETF, I believe would be a major milestone for cryptocurrency bringing about a change in the cryptocurrency sentiment as well as investor hope and confidence for the future. I do agree that Bitcoin is a form of currency since an investor can use it to buy many of the different altcoins as well as products on the internet. If successful in the long term future, I think Bitcoin could potentially become the most stable currency of all currencies and could be a heavily traded currency on forex exchanges. I feel that Bitcoin is another form of financial asset or property similar to gold in that it is a finite amount and backed by the blockchain community and all the altcoin companies. I also agree that Ethereum is a form of currency since it is one of the most heavily used currencies to purchase Initial Coin Offerings and Initial Token Offerings. I feel that the approval of this ETF would also bring about a sense of gratification among all cryptocurrency investors and the SEC, FINRA, CFTC regulators should be rewarded for the support and development behind this.
Thank you for considering my comment,
David Craven