Feb. 23, 2022
The question is not whether there ever ought to be a spot Bitcoin ETF. The question is "Should America be the last country to approve a spot Bitcoin ETF". Canada already has them. Europe is getting theirs. Why not the US? Does the SEC wish American citizens to only be able to enter this market after the ship has sailed? Look at the companies interested in creating spot Bitcoin ETFs. Names like Fidelity and JP Morgan. This is not some backroom enclave of hoodwearing hackers, twirling their moustaches in the hopes to prey upon the ignorant. Real financial institutions have woken up to the promise of Bitcoin. And when you turn them away, they go to other countries and establish ETFs there. You are not helping anyone by hesitating. Bitcoin spot ETFs are already out there in the wild, boosting people's portfolios--just not in America. To an SEC looking out for the well-being and prosperity of Americans, the answer should be clear.