October 18, 2018
I am in favor of overturning the decision to disapprove the current ETF products by GraniteShares Under Rule 14.11(f)(4).
The cryptocurrency industry with the help of numerous large relevant outside 3rd parties (i.e., Fidelity, ICE, Goldman Sachs) is rapidly maturing to support the regulatory and compliance necessary to support Exchange Traded Fund products that have become the cornerstone of accessing various underlying commodities and sectors most investors do not have the capability to invest in otherwise. Volatility in the cryptocurrency and Bitcoin markets are at all time lows and most of the global exchanges that have 90% of the daily volume are actively engaged in preventing manipulative practices across the board through strong KYC policies and working with local government regulators. The oversight of the SEC through shepherding approved ETF products such as the GraniteShares ETF is desperately needed to take the market and technology mainstream and boost the economic participation of millions of Americans especially the youth who today have a strong mistrust of current financial systems in place today which in my belief is a greater threat than the possible disruption these products could cause if approved.