Jun. 06, 2022
Bitcoin is one of the top assets held in the world. The American people deserve to have access to a SPOT Bitcoin ETF and Grayscale is one of the most trusted institutions to gain access to the asset class. The SEC should stand out of the way of innovation and allow this asset class full access to the markets. The asset class lives on an open source blockchain ledger that is secure. This allows more data for Americans to protect themselves from manipulation. With this information, this asset allows for better protection from manipulation due to data availability than almost any stock or commodity in existence. We do not need to be held back from innovation and market maturation by the SEC. Americans demand to have the freedom of choice and the freedom to invest through a spot ETF. The SEC would be better served by spending their efforts reining in the abuses by market manipulators after a spot ETF has been approved. Manipulation occurs in the stock market and similar commodities such as gold. This asset is less likely to be abused as abuses can be identified through blockchain analytics and when it does occur, this gives the tools for the SEC to deal with the manipulation with their legal tools on hand. Cody Turner Transition Specialist Timber Creek High School