Mar. 08, 2022
Dear SEC, I am writing in support for a spot bitcoin ETF as a means to protect investors against the other bitcoin linked products available in the market today. Especially for older investors, they need the low fee protection that they are familiar with from the stock market world. While investors can purchase GBTC or one of the futures based bitcoin ETFs, those products result in significant risks in terms of fees, trading practices, and formation rules that prevent normal market actions. There are many reasons why investors, both retail and institutional, are unable to hold bitcoin directly. By offering a spot ETF you will be following your mandate to protect consumers. To our shame in the USA, other nations, such as Canada, Brazil, and Singapore have approved spot bitcoin ETF. I want to have faith that the SEC is more than up to the challenge of catching up, rather than falling behind, in protecting US consumers by also approving a spot bitcoin ETF. Thank you, Atul Nair