Jan. 2, 2024
As a retired owner of an independant, fee-only registered investment advisor firm, I do not believe that cyber currency funds/ETFs should be allowed and made available to ordinary investors. Bitcoin and other cyber currencies are impossible for the public to analyze and understand as to risks. They have absolutely no fundamentals to analyze or recommend to clients. They lack transparency, financial reporting and have no income or dividend potential. They offer no assurances of solid financial backing or intrinsic value. Allowing investment dollars into Bitcoin via an ETF encourages unsophisticated, unaware and vulnerable investors to gamble and lose their money unnecessarily. SEC regsistration should enhance investor security, instead of promoting yet another way to suffer financial loss.