I support CBOE’s proposed rule change because it would allow for ETF share classes to be listed by BZX without unnecessary delay. I strongly support the exemptive relief necessary to permit the ETF share class structure in general. I believe that my clients would benefit from the ability to invest in ETF share classes. First, the ETF share class structure could give investors more choice by enabling them to decide on their preferred way—ETF shares or mutual fund shares—to access the same strategy. I believe that ETF share classes could also provide lower transaction costs, tax efficiencies, and the benefits of scale to all investors in the fund. And the ability to exchange from a mutual fund share class to an ETF share class would allow investors to avoid transaction costs and potentially negative tax consequences that might otherwise be incurred if the investor were to sell shares of a mutual fund and reinvest in a separate ETF. I strongly believe that my clients would benefit from the ability to invest in ETF share classes, and encourage the SEC to grant the necessary exemptive relief to allow ETF share classes. Thank you, Gil Hanoch