July 31, 2018
Dear SEC,
please approve of the ETF on August 10th without any delay. The cryptocurrency market desperately needs liquidity and help with manipulation. The marketcap has been trading at about 200-300 billion for more than 7 months now and since bitcoin futures were introduced in December, the market has not been able to recover as prices have been suppressed and heavily manipulated. Volatility is still a concern because of manipulation. With new liquidity coming in by way of an ETF, it should help to stabilize the cryptocurrency market as there will be investors longing bitcoin instead of shorting bitcoin these 7 months due to bitcoin futures. The market cannot and should not be like this as it is not a balanced system. An ETF will certainly help for the innovation of the blockchain as well as the overall cryptocurrency market. In addition, an ETF will allow for investors to purchase bitcoin with ease knowing that the CBOE provides 100% insurance should anything happen to investor funds. Please approve of the ETF on August 10th without delaying it further. The future of our citizens are in your hands. Thank you.