Bitcoin Forum

We all know the twins ETF got rejected.  But we do not talk about what SolidX got going for it compared to ETF.

wanker twins own alot of bitcoin and i am sure SEC were thinking this would make them partial and would also make it easier for price manipulation for their ETC on SEC.  SolidX do not own any Bitcoins so they are not partial and less risk for SEC

Twins ETF COIN is based on WINDEX index but SolidX is not. Twins ETF use their own Gemeni Exchange to set portfolio value. Again another chance for price manipulation.  SolidX is more open and diversified using indipendent and respected services to buy and sell and store Bitcoins and tracking prices/Value. Als their Bitcoin holdings will be insured for 125M USD! that is for 1M initial offering.

there might be a small chance SolidX might have a shot.  

What you germs and ladies think?


EDIT: had to add several other points that shows SolidX has things going for it

it's a 100% no. there's absolutely nothing solidx can change about the main things the sec objected to. the rejection was all about the overall state of the bitcoin market.

i am interested to know why they haven't withdrawn it.

Yes,  reason they gave us for rejection was regulation. I think it was just the reason that was easiest to present. They couldnt say , We do not trust the twins because they sit on shitloads of bitcoin.  

I think SolidX has better " case " going for it but  it is 99% sure it will be rejected.  Now as you said why did they not withdraw and why do we not have hype of solidx pushing the price up

While the majority of the people here don't even bet a single penny on the approval of the SolidX ETF, SolidX itself from here has nothing to lose. Maybe they even have certain hopes since this ETF enjoys a great level of fund insurance that the SEC might take that into consideration when it comes to making a final decision. I just don't understand why the Winklevoss brothers didn't offer any sort of insurance to its potential investors.

it also makes total sense. they're duty bound to turn down something unless they have the full ability to do the job they were created to do.

right on , you did say something important there. SolidX offers 125M insurance on 1M initial offering .  I think SEC are going to look at Solidx with diffrent eyes .  Also do not forget about the bitcoin investment trust , they got listed .

Bit Off topic but  seconds after i started this thread Bitcoin gained around 40 USD . So you are welcome fellow bitcoiners ;)

This is free advertising. They were a less known project than ETF and whatever the ruling might be some services and newspapers will talk about and increase the awareness.
Sec is like a drivers license exam, you can improve and apply again, until you finally make it and even if you don't it's still worth a try.

right, and the same free advertising will apply to bitcoin.

in my opinion, close to zero chance, unless Zuck himsllf called in and specifically told them not approve COIN just to mess with twins one more time, but then he, Bill gates , Musk., Tim cook etc all called in and requested solid X to be approved.
then, maybe..but what is a chance of that happening?
None, realistically.
In fact, i don't want btc being mixed up with fiat world like this anymore for at least another decade.

SEC will probably reject it. What make it a worthy proposition or not is if there is risks for the insitutional traders, and as of today, there is, as from what we saw, some FUDders can spread a great panic in a matter of hours.

There's no way it'll be approved...so it will be approved  ;D

For the COIN ETF SEC was specifically ruling on a rule change to the BATS exchange rules.

Do we know specifically what the SEC will be ruling on for the SolidX ETF application?

Start here to know how it might be different from COIN debacle.

Insuring funds might help in convincing the SEC as they obviously look to protect investors, but against what scenarios are they exactly insured? Theft? Volatility? Manipulation?

I can't seem to find any article stating what kind of insurance it is. Either way, it will just slightly increase their chances, but I am afraid it is headed towards rejection anyway as it comes too soon after the WV ETF.

But oh boy, how will the WV twins wake up finding out that it did get approved, lol. It will be a mega blow in their face.

well , SolidX has alot of advantages on twins ETF as i did point out in OP. I will not base my BTC trades on the solidx upcoming verdict cause i belive it will be rejected but i find solidx somehow more SEC friendly setup. offering Insurance being none partial

There are two reasons why the twin ETF was rejected. The situation has not changed in the last 20 days.

If solidx is approved the twins should sue the SEC because there would be something screwy going on. The SEC shouldn't approve any ETF for the reasons they cited for rejecting COIN.

I thought maybe the WinkVii had the best chance, considering their due diligence, wealth and connections. 

But alas, the SEC showed their hand and revealed the true nature of how the State feels moving forward:
"Cryptocurrencies can't be surveilled and controlled by the State." Feature, not a bug.

So I think this and any other ETF applicants will be DOA.

Are people really delusional enough to think that there are actual reasons the ETF got denied beyond the single fact that they cannot control bitcoin and it's transactions?

None of this will get approved, even worse, in the upcoming years exchanges will lose their licenses and ahut down. Trump also has made clear atatements about this.

If anything, the reasons for the denial of the COIN ETF rule chance have only gotten worse (centralization, large players, inability to control and report).  All ETFs are dead on arrival for at least this year - maybe 2018/2019 will be possible.

All depends on what BTC (or BTC/BTU) look like in the months/years ahead.

It will be denied for sure. Why even make a topic about etf's. SEC hates btc so their will not come an bitcoin based etf for a long time. Forget about those SEC idiots.

I agree with you. Those are just hypes to drive the price though even if they were rejected some would still speculate in hopes that they will profit from the ETF that happen. Let it be but even if it is denied, it have good effects in the bitcoin in the long run though. For now let's wait maybe this coming ETF would result to another or if it will repeat what happened again. Like history repeating itself.

calm down man. SolidX rejection might be clear to us but might not be to others just reading the news. Offcourse the  news about solidX will push the price up a bit,any news about bitcoin being used is good news.  We all need it in the times of forks and shit that is scaring people

SO this is the second ETF everybody is saying is going to happen at the end of this month? ::)
I don't see it being approved.
The financial money markets are not ready for BTC and what it has to offer this brave new world we are in with the world money in a shambles. >:(
This is their savior but they have not realized yet!
And it does not need a ETF to continue on it's jolly old ways it has been doing for the last 8 years! ;D

When SEC finally accept a bitcoin based ETF we dont need them anymore. Mark my words. 

Looks like we are going to see a pump before march 30th... and march 30th may or not react to the decision. Maybe the market doesn't give a fuck about this ETF and the SEC verdict is irrelevant.

in this case, certainly.