Jul. 18, 2023
Bitcoin Spot ETFs should be approved en masse. Allowing the American public to invest in and hold crypto assets via regulated entities is much safer than them being held in offshore exchanges. We've seen repeated failures of offshore entities, where many Americans have lost their life savings with little to no recourse (Mt. Gox, Quadriga, FTX to name a few). Investors will be much better protected if Bitcoin is held onshore. Given that not only Bitcoin futures ETFs, but also leveraged futures ETFs, have been approved, spot ETFs must also be approved. They are a safer product for the average investor. The price for both products is derived from the same markets of sufficient size. The time is now to approve these spot ETFs. Other countries are leaps and bounds ahead of America in crypto regulation. We are moving backwards. We are losing significant jobs to foreign countries. The time is now for Gary Gensler to be relieved of his duties in order for the SEC to properly fulfill it's mandate of investor protection, fair and orderly markets, and capital formation. None of those have been accomplished under his reign. Three strikes, you're out! Erica Woods, Average American