Apr. 22, 2022
Dear Gary Gensler/SEC, I am writing this letter to request that a Bitcoin SPOT ETF be approved by the SEC as soon as possible. Bitcoin and cryptocurrencies are burgeoning technologies that are going to be more widely used across the world in the not so distant future. As an American, and a Registered Investment Advisor, I feel it is crucial that the US make every attempt to lead the world in the adoption, innovation and regulation of these new technologies. Approving a spot ETF to be traded in the US in an important step towards adoption and regulation of BTC and cryptocurrency. I understand that the US has a considerable vested interest in keeping the dollar as the world’s reserve currency, but I do not believe that approving a spot ETF for BTC in anyway threatens the dollars dominance. If anything, the US should be adopting, buying and encouraging citizens to use BTC so America can stay dominant in the financial world. Failure to do so, would be a costly error. Furthermore, if the SEC can approve 3X inverse ETFs and VIX ETFs there is no argument to be made that not approving a spot ETF for BTC is in the interest of protecting retail investors. Several other countries already have BTC spot ETFs for their country’s investors and I believe that the US not having one is a sign that we are behind the curve on adoption. It is time that we catch up! Thank you, -Derek Derek Serlet, PE, MBA Owner, Registered Investment Advisor Professional Civil Engineer Legacy Financial, Ltd.