kaal:claim:2998033-013

The SEC's reasoning against the Bitcoin exchange traded fund does not transfer to blockchain based private investment funds, because such funds trade a diverse array of cryptocurrencies rather than Bitcoin alone and reach a much narrower investor audience, which curtails investor risk.

Source quote, verbatim

Most importantly, private investment funds on Melonport would be actively trading a more diverse array of cryto- currencies, not just Bitcoin. Moreover, the audience of a Melonport-type fund is much more limited and curtails the risk to investors.

From

Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017), II.5. Regulatory Implications, p. 16
https://ssrn.com/abstract=2998033 · source PDF

Cite as

Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033

Holds when

applies to private funds created through Ethereum smart contracting on platforms such as Melonport

Classification

conditionsupport: arguedsecurities-lawprivate-fundstokenomics

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