May. 06, 2022
Dear SEC, As governing body and mission to protect investors, I’m writing you with deep concern about the continued rejection of a spot ETF for Bitcoin. As bitcoin adoption continues to grow, there is going to be more retail investors, frankly novice investors, looking to add bitcoin to their portfolios…..both as a long term investment and inflation hedge. However, this presents great risk to the average investor given the only option currently to invest in bitcoin is to buy directly through an exchange and novice investors have huge custody risk. It’s time for a spot ETF where investors can invest safely in Bitcoin without custody and scam risks. Spot ETFs have been approved in other countries so we are already late to the game on this. Please consider changing your position and move forward with approving a spot ETF. Thank you, Kim Bazer Menifee, California