Feb. 22, 2022
Why would I like to see a spot ETF on Bitcoin? The reasons are numerous. 1) The technology is needed more than ever. It is superior to legacy systems and is undeniable in its benefits and cost saving potential. The U.S. needs to lead the world not lag in this ultra important area. Get the politicians and bureaucrats out of the way of innovation. 2) The SEC's approval of a Bitcoin Spot ETF would open the asset class to investors that have heard horror stories of exchanges being hacked and/or aren't savvy enough to pull those coins off the exchanges onto cold storage. It affords them a low cost way to participate in an ever growing/compounding asset class that is not going away. 3) People are comfortable with the ETF structure. The structure is a great way for investors to gain exposure via a familiar vehicle. 4) A spot ETF for Bitcoin would be groundbreaking and possibly provide a 24/7/365 liquid market that isn't available now with traditional securities. This is history in the making. The SEC can't be looked at as hindering this technology. Embrace it, help it grow. Approve a spot ETF for Bitcoin....it's time. Gary Jarman