Aug. 23, 2023
Spot bitcoin etfs should be approved. The SEC should approve spot bitcoin etfs for the following reasons: Futures etfs are already approved. Their price is derived from the same spot market. Futures based etfs harm the public by subjecting them to the negative monthly roll yield. Lack of quality spot etfs encourages public to seek out lower quality and riskier alternatives like FTX to invest in. Other countries have approved spot bitcoin etfs. Stop holding the US back on this great innovation. There is huge demand because investors need a way to reliably and efficiently tap into Bitcoin, the best performing asset class since its inception. A spot bitcoin etf, in combination with traditional investments, has the potential to increase both portfolio performance and Sharpe ratio (reward to risk ratio). Please expedite the approval of all properly requested spot bitcoin etf applications. Thank you!