September 22, 2018
In the words of Commissioner Hester M. Peirce "A helicopter mother hovers over her child in order to ensure the childs success, although this strategy often backfires.2 A free-range mother, by contrast, encourages her child to explore with limited supervision, which requires the acceptance of a certain level of risk."
The SEC has thus far approached the digital asset space with suffocating supervision. This has made it impossible for US citizens to share in the opportunity provided by the emerging technology behind Bitcoin and other digital assets. While the US SEC spends time chasing after cryptocurrency companies, and making blanket statements about initial coin offerings, regular people around the world are blessed with the opportunity to invest in a never before seen technology.
The CBOE VanEck SolidX Bitcoin ETF is an opportunity for America to showcase leadership in a space that they have approached with such malice hitherto. America has the opportunity to lead by example by offering the worlds most liquid and most highly reviewed Bitcoin ETF, rather than reluctantly following other developed nations.
This ETF is backed by the purchase and custody of the underlying asset, it eliminates the "retail investor" and caters to institutional entities by setting the minimum investment to 25 BTC per share, and it is perfectly executed down to every detail.
I urge you to carefully consider your reputation as a World leader in investor protection but also realize that a Bitcoin ETF is inevitable be it the USA, a country in Europe, or a country in Asia. Do not suffocate an emerging technology but rather embrace it.
Accepting and allowing the trading of the VanEck SolidX Bitcoin ETF will allow the USA to reverse course and improve its global standing as a blockchain and digital asset ambassador. Your decision in favor of this ETF will certainly increase liquidity, reduce manipulation, and reduce volatility of this tiny, yet exciting emerging market. Many of your citizens will thank you for waking up to the beautiful potential of a SEC approved and Worlds first, Bitcoin ETF (not to mention the value will likely reflect such a positive decision).
Thank you
-an educated, careful, and capable US citizen