July 12, 2018
Thank you for considering this proposal.
Cryptocurrencies represent the vanguard of a wave of new technological innovation. Those countries which speed adoption (as, for example, by making Bitcoin more accessible to investment capital and by bridging technological barriers to entry) will enjoy significant economic and technological benefits in the years to come.
Moreover, the regulatory uncertainty persisting with respect to cryptocurrencies in the United States has resulted in many companies limiting access to American citizens and has driven many start-ups to friendlier jurisdictions. The approval of a Bitcoin ETF would go a long way towards changing the prevailing view (in the cryptocurrency space) that the United States is, unequivocally, an unfriendly jurisdiction.
As the approval of a Bitcoin ETF would allow more Americans to diversify into this emerging asset class, while also encouraging cryptocurrency and blockchain innovation in the United States, I am strongly in support of this proposal.
Thank you.