Sep. 28, 2023
After reviewing an article that stated the SEC was inviting public comment on a spot bitcoin etf, I felt a sense of deja vu. I feel almost certain I did the same almost some 7 years ago and I find it disheartening that the public is yet deprived of the product. Bitcoin has matured to the point whereby insitutions are comfortable and capable with providing security services. It is an immutable blockchain, every aspect of a transaction is forever written and visible for all to see. It has been proven that when necessary government agencies are capable of seizing these assets. It should be readily apparent that it meets all necessary litmus tests and passes muster for an equity traded fund. The secondary question of a surveillance agreement with coinbase should stand to reason as a process of kyc and obtainable under due legal process as necessary, not as a standing process. Asking that would be tantamount to requesting every bank submit to surveillance sharing, and in fact be counter to the very security that should be provided and afforded these products. If there can be a gold or silver ETF, there is no question as to whether or not there should be a bitcoin spot etf, the definitive answer is yes.