July 11, 2018
Hi SEC,
You should approve the Bitcoin ETF for five reasons:
1. It will allow regular folks to buy it in a safe place with proper disclosures
2. It will dissuade people from going to shady websites to buy crypto
3. The Govt can better track trades for tax purposes instead of wondering if Bitcoin Ben reported all is crypto gains from an anonymous exchange in Asia. ETF will ensure Bitcoin Ben isn't forced to risk his hard earned money on random exchanges that make tax compliance difficult.
4. GBTC about the worst product for investors. Customers are forced to pay a massive premium and the whole thing seems like a terrible option for investors. SEC should correct this by allowing a real ETF.
5. If you wanted the Bitcoin ETF to put regulations first, you'll find no better partner than the CBOE. If you were going to approve an ETF run by anyone that would have the confidence of both the public and the regulators, it would be with these guys.
Thanks for reading. Also approve it : )