August 6, 2018
I am writing in support of the bitcoin ETF proposal by the CBOE. This ETF satisfies the SEC's concerns in protecting investors and maintaining fair markets. It is 100% insured and will target institutional investors who are capable of making informed investment decisions. In addition, this ETF will be backed by actual bitcoins. This will reduce concentration of bitcoin by "whales" and further distribution. By opening the market to more investors, an ETF will provide liquidity and transparency to the bitcoin market which will minimize the ability to manipulate the market. The SEC plays an important role in fostering innovation and increasing opportunities for investors. Investors do want bitcoin and are waiting on the SEC to approve this ETF. This initial approval of an ETF for institutional investors should pave the wave for future bitcoin ETFs where retail investors can benefit from a safer bitcoin investment.
Thank you for your consideration.