July 31, 2018
Dear SEC,
I hope the ETF will be approved. I think it will bring institutional investors into this maturing market which can stabilize the value of bitcoin and reduce manipulation simply by making it more risky and expensive to do so. Earlier I sent a complaint to the SEC about Bitfinex exchange which appears to use manipulation tactics like "stop loss hunting". While some exchanges are not trustworthy, CBOE is and having them manage a larger part of the market is advantageous to them and the market alike. With their professional management we will all be safer in investing, and will be able to avoid shady exchanges from abroad. I think Americans have it in their interest to invest trade and use cryptocurrencies and new financial technologies. We would like to gamble with long and short positions and do it in a legal way. We would like to get a position in the marketplace without being forced to use shady avenues. ETF approval will open the door and help to usher out any nefarious entities who seek to exploit the unaware.
Regards,
ZTM