Bitcoin Forum

Another Bitcoin ETF Deadline is Already Approaching

The US Securities and Exchange Commission (SEC) is set to make another bitcoin exchange-traded fund (ETF) decision later this month.

New York-based startup SolidX revealed last July that it was filing to list a bitcoin ETF on the New York Stock Exchange, seeking to sell as much as $1m worth of shares. The firm raised $3m in late 2014 in a bid to sell financial products tied to the digital currency.

Yet the SEC delayed a decision on that proposed offering in September, punting forward a determination until 30th March.

http://www.coindesk.com/another-bitcoin-etf-deadline-is-already-approaching/ (http://www.coindesk.com/another-bitcoin-etf-deadline-is-already-approaching/)

Interesting.

However as the current ETF has already been rejected I think this one will probably be rejected as well.

And also the ETF turned out to not have that much of an impact on the BTC price anyways after the rejection, so there will be less speculation this time round.

Not really.

This ETF will have zero chances of getting approved due to the reasons the Winklevoss ETF was rejected. In that regard, there is nothing interesting to about this. It's a non event, really.

If people are fully realistic, then it won't have any impact on the market. Another thing that helps is that this ETF isn't being fully jumped on by people as was the case with the Winklevoss ETF. No hype is no market sensation. I even doubt that the majority of the people know about this ETF. :D

Yeah the hype that was with Winklevoss ETF. It really push bitcoin and jumped by a lot of investors. But I doubt this ETF will do the same. And it will likely rejected by SEC as well. The Winklevoss twins had already sent enough documents to the SEC for approval, I don't know what SolidX, have submitted to them but the result will be the same.

SolidX has most likely lost all confidence at the time the Winkies ETF got disapproved. If the SEC doesn't look at Bitcoin in a different way, then with their requirements there will never be a Bitcoin related ETF. But the good thing is that Bitcoin doesn't need any ETF's to move forward. Imagine what will happen once we finally have broken through all the nonsense discussions regarding the block size increase. That will give the price a massive boost as that will allow Bitcoin to cope with the increased demand.

This really highlights quite how scammy these vehicles potentially could be. Who's forcing SolidX to actually buy real BTC with the $1million dollars investment capital they're selling? At least with the less scammy Bitcoin exchanges, you can withdraw real Bitcoins to prove that actual BTC trading has taken place (well, at least some of the time on some exchanges. "People's" Republic of China, I'm looking in your direction)