July 12, 2018
ETFs allow investors a vehicle to invest into Bitcoin using existing regulated brokers and exchanges. This discourage investors from directly buying from unregulated international exchanges.
Due to the nature of ETF following security laws and regulations, accounting is no longer an issue. It reduces tax evasion or difficulty calculating capital gain for tax reporting purposes.
Therefore, ETFs for both retail and institutional solves the issue of tax reporting and regulation concerns. This is a huge plus to IRS and investors because we will now have clear accounting of gains and loses.
I urge SEC to approve ETFs soon as possible to avoid further difficulties for IRS and individuals tax reporting as well as protecting investors from using unregulated means to invest in Bitcoin.
On the contrary, not allowing ETFs will force people to take the unregulated route. Therefore, the answer is clear. EFT is a great benefit to IRS and investor protection.