March 27, 2021
Dear Sirs,
Please do not even approve or consider this request. I do not see how an ETF for Bitcoin could even possibly be for consideration as the market has no real world basis. Arguments for a store of value similar to gold do not even make sense because gold has utility and is used for a variety of things. The use of Bitcoin is based on its utility as a payment system, is neither used to transact or help those who need it most. Even Teslas terms and conditions indicate how hard it is to use Bitcoin as a payment system. As for transacting on every day goods Im sure were all aware that Bitcoin does not even make sense.
Our society is at a turning point where we need things where everyone can benefit. The common investor who wants to invest in Bitcoin can go ahead and purchase directly from a variety of exchanges and does not need to purchase from an ETF as there is no benefit from a risk perspective on a speculative asset.
If NFTs made sense or ICO projects did anything of use, then I can see a potential use case for Bitcoin. But unfortunately even NFTs have not proved itself. Please dont let memes and Twitter cloud your judgement as I am in full faith and confidence of our government system.
Thank you all for your time.
Anonymous