July 18, 2023
I am a longtime investor in ETF's. However, for Bitcoin-related investments I am being limited to inferior products such as GBTC and MSTR in my retirement account to gain exposure to Bitcoin. This harms me as an investor and limits the competitive position of the United States securities market. I've been exploring how I could gain exposure in other ways internationally, as other countries have approved Bitcoin Spot ETF's.
Please help approve a Bitcoin spot ETF so that I can gain exposure to Bitcoin in my retirement account without worrying about inferior products, for which I have lost money on. The GBTC product has stopped tracking the Bitcoin price and MSTR obviously has risks as a for-profit business.
Millions of investors in the United States have been awaiting this product for years, and it'll be important to approve this product before the Bitcoin price gets out of hand. Most fully expect Bitcoin to easily rise above $100k per coin in coming years and will likely rise to $10M per coin in coming decades. Time is of the essence before investors retirement accounts are out of luck.
Thank you.