Subject: File No. S7-15-18
From: Wayne T Lloyd, MBA MSc

July 20, 2018

Dear Sirs,

I understand this is not the first time which you have presided over an application for Bitcoin ETF's to be traded. On previous occasions you cited a lack of regulation as the principal reasoning's for the applications being rejected.

Admittedly, within the US at least, there has not yet been much fundamental policy change towards the market but I think the market itself has managed to self regulate to such an extent that there is evidence of a more mature approach to the asset class.

I think the implementation of ETF's would prove to be another major step forward in the maturity of the market as increased liquidity would bring back some much needed confidence in the market itself which is extremely important in this current bear market.

I also believe it would bring this asset class towards the mainstream which would provide more regulation without stifling innovation.

This is a huge opportunity for the US to prove themselves as being at the forefront of this market so I really hope you're able to recognize that and help push digital assets forwards.

Sincerest Regards,

Wayne Lloyd