Bitcoin Forum

The VanEck SolidX Bitcoin exchange-traded fund (ETF) has already been stalled once in August 2018, and now the Securities and Exchange Commission (SEC) of the United States has delayed its decision again.

This was not surprising since some experts thought the SEC would likely delay until March 2019 which is the maximum time allowable under law, before probably rejecting it. What is somewhat surprising is that the SEC seemingly igored some 1,400 comments submitted to the SEC for the VanEck SolidX Bitcoin ETF, with virtually all of them in favor of it.

The director of VanEck, Gabor Gurbacs, says, “I am humbled and impressed by the public support of the VanEck-SolidX initiative to bring to market a well-constructed, liquid, physical, insured Bitcoin ETF. 1400+ comments, 99%+ in favor. The public has spoken! Bitcoin is compatible with the US and global capital markets.”

Source: https://bitcoinnews.com/sec-delays-bitcoin-etf-despite-1400-public-comments-in-favor/

I know the chances got better with the recent pro-crypto SEC appointment (https://toshitimes.com/the-new-pro-crypto-sec-commissioner-appointment-may-turn-the-tables-on-the-etf-approval/), but I still wouldn't hold my breath. I'm sure an approval would do wonders for the price thanks to all the hype (still) surrounding the issue, but would it really be good for the long run if large financial entities held massive amounts of coins? I'm not saying it won't be, just that it's something to ponder on.

Also, I'm sure this is going to come up at some point, but I'm pretty sure this wasn't delayed in the interest of price manipulation.

US is doing everything in power not to let cryptocurrency rise because that would mean the death of the current system that THEY control.

SEC postponing their decision about something that is not even useful for bitcoin is not the reason why cryptocurrencies are not rising. the altcoins have been getting dumped simply because they were pumped and their bubbles needed bursting and they needed to come down to more realistic price based on their lack of demand.
as for bitcoin the current price is still a pretty good rise considering it is now higher 6x more that a year ago. and now it is building up for the next rise.

everyday there is increasing positivity about the SEC confirming and approving the btc even though they are purposely delaying and slowing down things but i am cionfident it will be approved and bull season, wil return confidence will return to the community and  more investors will return. i am postive. crypto is here to stay.

Obviously, when people sees an opportunity that they think that can be use in manipulating the price then they let it happen, a little news will be huge and it's all upon them. So whatever it is, as long as you hold your position in the market we surely won't be left out when the price surge. Too bad for those who lose their balls during bearish season.

Honestly, I didn't really put my hopes to SEC to approve ETF, like if they'll deny or postpone then good, if it got approved then much better. I'm putting myself in between so I can spare myself in misery.

more time means more symphatisers to let ETF be approved and U.S. SEC are also still studying the stability of Bitcoin so they may not be in trouble once they approve the btc ETF and that would be a trend changing situation once ETF be approved. Expect huge pump for btc price. So far the postponement of ETF doesn't draw negative effect to market.

The SEC does not want to accept bitcoin despite the fact that all the requirements have been met and comply with us laws. The SEC Commission is not objective and does not want to accept ETFs because of its archaic view of the world.

it is funny to see how the comments about ETF and SEC decision have changed over the past couple of months. at first people were hopeful for the ETF acceptance and were always panicking with each rejection and delay but nowadays wherever i look people are always negative about it and are starting to not care about what SEC decides about it either.

Know I have at all appeared recently opinion that this SEC controls bitcoin. I mean, manipulating important events in him. Now they will accept these ETFs and bitcoin will go further, refuse, bitcoin will be in flat a couple of months before the new consideration. The crowd is very concerned about this factor of influence!

are all of the requirements really met?
i don't follow ETF details closely but based on what i understood, a lot of them are not actually met and probably will never do either in the near future. for example things such as high volatility of the market and the unregulated state of bitcoin aren't going to change.

Thats right dude,why need to expect that damn approval from SEC when we know that it will never happen.and besides cryptocurrency is stable we have lots of opportunities to grow even without that ETF and we have proven that for how many times of denial from that government institutions

I'm tired of this ETF expectation. I just wish it's made the full decision. So we can look at for future.

Of course crypto is here to say, with or without this so-called ETFs. Yes it can do wonders there is a consensus that an approval meant influx of fresh cash to the market to start the bull run. However, I'm leaning towards a rejection because the market has been and will be prone to manipulation by whales and this is the foremost reason why SEC has rejected the first 9 ETF's proposal prior to the Van Eck/Solid X Bitcoin ETF proposal. So I'm not surprised that SEC has postponed it. And there will be a time that no one will care about these ETF anyways because we all know that there's a chance that it will harm the market in the long run.

Lol there are still clamors for it, as evidenced by the apparent 1400 public comments urging the SEC to approve VanEck's proposal. It does seem like people have been feeling like the SEC has been stringing the crypto world along though, with even accusations of manipulation popping up.

Either way, an approval would surely still affect the market favorably, we just don't know if it would be sustainable, or if it would be good for the overall community.

There is an overwhelming support for the bitcoin ETF bill from the cryptocurrency community
And considering that it would attract all forms of big players and investors and increase adoption and circulation, you can see why there is so much interest.

But what impact would it have on the long-term price and goals? And would it improve price stability?

Really? I think most of the community have lost faith in this ETF, a quick look to some posts in social media will give you a pretty good idea of what the overall concensus about the Bitcoin ETF is.

A big part of the community knows that we don't need the ETF nor capital from financial institutions to see a growth in Bitcoin, another part of the community knew that the SEC was going to either delay it or straight up reject it. So I doubt there was an "overwhelming" from the crypto community. Sure, we could see something positive if the ETF were to be approved, but everyday more and more people are getting "annoyed" about the constant delays which is lowering the expectations about this proposal.

If out of 1400 comments make a positive comment on bitcoin, it would certainly welcome bitcoin to be accepted by the public, and that would be the main capital for bitcoin to be legal in the SEC. This is good news and hopefully, by 2019, the SEC will have competitive negotiations by not forgetting about comments from the public.

It is a good news that the Central banks don't want to reveal. They already know that the people wants Bitcoin to be legalize. They still delay it because if the ETF result become positive, many lawmakers will follow their decision.

Well, it is not surprising if bitcoin ETF got delayed again because we know that it has possibility that SolidX ETF decision can be occurred in 2019.
Although the public has agreeing and favor to SolidX, the SEC still will be the one who decide to approve or reject it, peoples in public can only support them.

Next time they'll have to make a decision will be on December 29, but I doubt at that time they'll decide anything, so they will most likely delay it again until February 27, this will be the crucial moment then.

No ETF won't have any impact on Bitcoin in my opinion as Bitcoin has always existed without an ETF, however it can only be positive (big positive if you ask me) if it is accepted (probably next year at the end of February).

there is nothing surprising about that in my opinion. those comments are completely pointless. in fact i believe it was ruined in a way because it became spammy at some point. when people everywhere were hyping it up and encouraging people to go there and make a comment, that is what we end up with.
besides SEC doesn't make decisions based on these things! they have their own process which if you think about it and read their previous reasons for rejection you can see nothing has changed.