Apr. 22, 2022
I am a 32 year old father of two who has cared deeply about my financial future since a very early age. This care and subsequent knowledge I have gained has made me a defacto helper with friends and family when it comes to setting up IRAs and self directed 401ks even though I'm not professionally involved in the financial industry. I haven't shied away from this as most people (yes I dare say most) even educated ones are not good with their finances and as I'm sure your department knows can even fall prey to malicious financial scams. Its quickly becoming apparent that blockchain technology most notably Bitcoin is going to play an important part of our future economy. Bitcoin is also one of if not thee best performing asset of the last decade. So barring making this email a rant of any sorts and giving it the best chance of being read by someone we will just stick with those two simple high level points. I feel U.S. citizens deeply deserve to have exposure to this potentially global economy altering asset within their current IRA and 401ks through a spot bitcoin ETF. The SEC preaches investor protections but currently I as an investor and friends and family that I help are not being protected or helped by you on the crypto currency front. We are forced to invest in Canadian markets if we are lucky where they have a bitcoin spot ETF, or if our brokerage doesn't have access to that we are forced into either bitcoin futures which isn't even holding the underlying scarce asset or GBTC which is holding the scarce asset but has high fees and wild premium or negative swings that don't follow the price. This does not sound like we are being protected and appears the SEC is not doing right by citizens. Its egregiously overdo to approve a Bitcoin spot ETF. Thanks for taking the time to read this.