Apr. 27, 2022
SEC, I'm writing to support the approval of spot cryptocurrency ETF's in the United States. Previously cited reasons for rejecting spot crypto ETF's include potential fraud and manipulation. However futures crypto ETF's are allowed and I'd argue have the same exposure to fraud and manipulation as a spot ETF would. Additionally, retail investors are familiar and comfortable with ETF products and are able to invest in these safely and securely through their chosen brokerage. Without spot crypto ETF's, retail investors who want exposure to cryptocurrencies have to either look outside the country or buy the underlying asset in which the methods of doing so are also fraught with risk of fraud and manipulation (I'd argue moreso). Approving spot crypto ETF's provides a safer path for those who choose to invest in cryptocurrencies than currently available methods. Thank you. Rodney Wheeler