We’re going to have to take a step back and rethink the whole “Bitcoin exchange traded funds (ETFs) are coming” trope.
In February earlier this year, the Securities and Exchange Commission (SEC) put out a solicitation request opening the floor for the public to comment and provide their thoughts on the possibility of allowing a regulated and recognized Bitcoin BTC ETF.
Since then, seven letters of comment have been made publicly available.
Most people that actually responded to the Securities and Exchange Commission‘s (SEC) request for public input into a Bitcoin ETF really aren’t too fond of the idea.
All but one of the seven letters are vehemently against the idea that any form of Bitcoin ETF be approved.
One respondent, Sam Ahn, goes to great lengths to explore how Bitcoin has no intrinisic value.