July 11, 2018
I strongly support the approval of a Bitcoin ETF.
According to JPMorgan, the benefits that Bitcoin ETFs would bring the following:
Easier access: Investors need wallets to trade the physical Bitcoins today, making it hard to access. ETFs are frequently traded and highly accessible via investors brokerage accounts.
Liquid market: ETFs are actively traded and highly transparent.
High integrity: ETFs are traded through brokerage accounts that carry with them insurance via SIPC. Bitcoin exchanges have no such insurance and expose holders to potential fraud and theft.
JPMorgan officials also stated that a Bitcoin ETF could have a transformational impact on the cryptocurrency and likened it to the financial market impact of the first gold-based ETF.
Thanks,
Kelly