Mar. 06, 2019
Dear Commissioners, I would like to voice my disapproval of this Bitcoin ETP and would ask the SEC to take a much longer time horizon to take a 'watch and wait approach' to see if Bitcoin is worthy of becoming a financial product with all the positives and drawdowns it entails. I have to disagree that based solely on the fact that the market is possibly 'ripe' then an ETP should be granted (if that is a criterion, and if so how is this measured?). The true game changer is the underlying technology Blockchain, not the cryptocurrency. And to make inroads into this industry-changing technology, one does not need to have a financial product based on the cryptocurrency. Decline this ETP without hesitation. Regards, D. Barnwell