Feb. 26, 2022
Please approve the bitcoin spot ETFs! Investors like myself have been waiting YEARS for this to transact via reputed regulated existing stock brokers and finance institutions that we keep our financial portfolio in, rather than a string of non-regulated exchanges. The SEC reasons for denial for Bitcoin spot ETFs are outdated. The low market liquidity and price manipulation reasons may have been valid in 2013 nine years ago when the first spot ETF application was denied but that is no longer the case. Bitcoin has grown to almost a 1 trillion dollar asset in market cap. The Bitcoin futures ETFs were launched last year but there is a significant price gap and investors like myself are left paying the high price if we wanted to use our regular brokerage. We really need a well regulated Bitcoin SPOT ETF. Please also see the letter sent in from Grayscales attorney David Polk and the responses here and please PLEASE work with them to structure this ETF in a way that works for you. You may think you are protecting investors but in reality the SEC is HURTING investors by not approving a spot BItcoin ETF. thank you https://grayscale.com/unpacking-the-news-a-new-argument-for-a-bitcoin-etf/ https://www.sec.gov/comments/sr-nysearca-2021-90/srnysearca202190-9410842-262990.pdf