Mar. 27, 2019
Hi,
As a woman who has been in this space since the early days, I find it vital that we the public keep control of our cryptocurrencies and accept the risks that come with self-ownership.
It is also interesting that this presentation for File No. SR-NYSEArca-2019-01 located at https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf assumes that the public need protecting and will benefit from an ETF.
It claims that 95% of the volume on BTC Exchanges are manipulated and that liquidity is much lower than previously calculated.
It is like asking permission from the fishing authorities by saying:
"Gee whiz 95% of the world's oceans are polluted, but we assure you that 5% is not. And the actual volume of fish is much smaller than previously calculated. So we argue that it is a very healthy and stable environment for fishing. Therefore grant us a fishing license immediately {by taking our word for it} as it is a brilliant idea for us to go out fishing now!"
I am confident there are better workarounds than such products {e.g. an ETF} from the financial world. Reject these proposals.
Thank you for listening,
Emma