Can we all work together to make one very compelling submission? This is a huge step towards adoption and I think collectively we can come up with very good arguments. Here’s a list of ideas I collected:
– ETF’s have better insurance and security than Open Exchanges.
– Multiple ETF’s create an avenue for stable and fair competition. Currently, it’s whales vs individual investors. Adding ETF’s allow institutional investors to compete.
– SEC should not deny ETF’s based on Bitcoin’s risk alone. There are literally ETF’s for any commodity ranging from food, corn, metals, diamonds, etc. It is not the SEC’s job to manage risk as those ETF’s performance varies. It is the SEC’s job to promote innovation and competition. Without Bitcoin ETF’s, we do not have a competitive momentum against whales.
(I can edit this as more feedback is added or revised. I can submit to SEC website.)