Dec. 30, 2023
Regarding: Ark 21Shares Bitcoin ETF, File No. SR-CboeBZX-2023-028 Invesco Galaxy Bitcoin ETF, File No. SR-CboeBZX-2023-038 iShares Bitcoin Trust, File No. SR-NASDAQ-2023-016 Valkyrie Bitcoin Fund, File No. SR-NASDAQ-2023-019 VanEck Bitcoin Trust, File No. SR-CboeBZX-2023-040 WisdomTree Bitcoin Trust, File No. SR-CboeBZX-2023-042 Wise Origin Bitcoin Trust, File No. SR-CboeBZX-2023-044 Franklin Bitcoin ETF, File No. SR-CboeBZX-2023-072 Grayscale Bitcoin Trust, File No. SR-NYSEArca-2021-90 Bitwise Bitcoin ETF Trust, File No. SR-NYSEARCA-2023-44 Global X Bitcoin Trust, File No. SR-CboeBZX-2023-058 Hashdex Bitcoin ETF, File No. SR-NYSEARCA-2023-58 Pando Asset Spot Bitcoin ETF, File No. SR-CboeBZX-2023-101 All applications for Bitcoin spot ETF, or similar tradable fund, or trust. To: Securities and Exchange Commission (SEC): I am an Indian Canadian, with experience in transport, and supply chain business. I am requesting the US SEC to reject the applications for all Bitcoin Spot ETFs or similar tradable funds or trusts. The approval of a Bitcoin Spot ETF without first putting in place and stringently enforcing comprehensive regulatory measures, not just in US but across various countries, will indirectly contribute to larger illicit issues such as child labor exploitation in underregulated jurisdictions. Also, the Cryptocurrency mining, a key component of the Bitcoin ecosystem, is very energy-intensive, and uses huge amounts of drinking quality water for cooling. These often takes place in countries with lax labor laws which makes illicit labor practices easy. The miners and large organizations, especially the non-compliant bad actors can easily manipulate the price of cryptocurrencies because this is a very small market and lacks adequate regulations. The ETF's success will fuel increased demand for Bitcoin, will support exploitative mining practices, and illicit activities including the use of child labor in some regions, market manipulation, continued non-compliance – all of which will harm the general public in USA and other countries that the US SEC can Not regulate. Thus, the US SEC should just Not approve any such Crypto/ Bitcoin ETFs. Sincerely, A Gogia