SEC “seeks and encourages interested persons to provide comments” on the proposal. Specifically, the commission is asking the public to consider whether they believe the Bitcoin ETF would be susceptible to manipulation and designed to prevent fraudulent and manipulative acts and practices.
The SEC also asked people to weigh in on “the suitability of Bitcoin as an underlying asset for an exchange-traded product,” and the liquidity and transparency of the Bitcoin (BTC) market.
Bitcoin has the largest digital coin market cap at $700 billion and continues to lead providing digital coin liquidity. Bitcoin’s liquidity reduces the risk of manipulation compared to other digital coins.
Bitcoin’s blockchain is more transparent than any fiat currency.
Bitcoin is decentralized and is caped at 21 million coins. There are no pre-mined coins and 21 million cannot be manipulated. The same cannot be said about the centralized digital coins or fiat currencies. WHERE IT COUNTS MOST, Bitcoin’s decentralized design and cap prevents fraudulent and manipulative acts.
Submit your SEC comment here:
Then select the link Submit Comments on SR-CboeBZX-2021-019