July 11, 2018
Please allow the Bitcoin ETF.
Exchange traded funds have allowed for the democratization of investing by making it easier for the average person to manage a diversified portfolio.
The key to diversification is to invest in several asset classes not correlated with each other. This used to be accomplished simply with a mix of stocks, bonds, and commodities. Unfortunately, in recent years these, too, have moved in lockstep with each other which nullifies the advantage of diversification. A cryptocurrency ETF would provide another alternative investment which could be added to a diversified portfolio. While not a panacea, it would at least allow people a convenient way to add Bitcoin (and eventually an index of several cryptocurrencies should you so permit) to their IRAs and 401(k)s.
Thank you for your attention and consideration,
Richard M Creasi