Bitcoin Forum

While many traders are eagerly awaiting a potential Bitcoin exchange-traded fund (ETF), some of the most ardent supporters of cryptocurrency are tepid at best for the prospect of such a tool. What's your opinion? Do you want Bitcoin ETF?

I would like an ETF, it adds legitimacy to bitcoin and also provides access to the market for some investors who up to this point would not have invested. However I don't think it will have a large influence on market price, it is not currently hard to invest in BTC and the large majority of people interested in doing so would have done so already. An ETF isn't going to bring much new investment, it's just a new channel for investment.

waiting because there will be very cheap vanilla options and volatility indices on the crypt.

This is something tha wont happen soon because the only way US SEC will approve ETF is if the market is regulated properly and manipulation is not happening in such huge amounts as it is now,

That being said, yes i want to ETF happen.

Bitcoin ETF proposals are nearly forgotten but there's last one decision and no more delays which will come out by February. I'm neutral on this and I have seen rejections of it last year so I'm expecting that nothing new will happen.

If it gets rejected again then don't put attention and hope with it anymore. The market can stand on its own even without these but our expectations are increasing and most thinks that this is needed.

Seems to me, the custody of said Bitcoin is a major issue.

Is Wall Street worthy of anyone's trust??? ???

Unlike precious metals, stocks, bonds, ect; Bitcoin is immutable.

This trust-less feature is the biggest aspect of Bitcoin value.

It's obvious no one can trust government or Wall Street.

Bitcoin is a true revolution, which no one really saw coming.

An ETF is beneficial to bitcoin or the cryptocurrency markets in general as it adds liquidity to the markets. Some people are sort of lukewarm or some even against an ETF probably because they don't want institutional money into bitcoin. Unfortunately, whether we like it or not, bitcoin is for everyone. Whether your just a typical employee, or a government body.

Anyway, the reason why most people want an ETF, is simply because a lot of people think that an ETF would be the catalyst for bitcoin to skyrocket in price. They want to be rich quick. Nothing new here.

It will be interesting to see how this plays out over the next while, I think everyone is hoping for it based off the impact the Bitcoin Futures had on the market this time last year.

I have seen it mentioned before that the Thin Order Books associated with Crypto is something that is taken into account when making this decision, I cannot imagine the current market has improved this situation if it is indeed something considered.

I'm thinking the excitement of Bitcoin Futures market triggered the massive short selling.
Much based on Bitcoin which didn't even exist.
Wall Street is famous for shenanigan trading assets and commodities which don't exist.

Likely when Bitcoin comes back it will come back with a vengeance...hahaha  ;)

As a matter of fact. Bitcoin futures had a very negative impact on the crypto market. Read this:

https://bitcointalk.org/index.php?topic=5072733.0

i think you are about 4 months too late since what you are saying here used to be true about 4-5 months ago, many were waiting for ETFs to be approved and the price to shoot up because of them. then SEC kept rejecting one after another and also people slowly started to realize that ETFs aren't really as good as they are advertised for bitcoin's future so they stopped wanting them.
i think these days there may still be some people who want ETF but nobody has any hopes of them being approved anymore.

I want ETF and hope that SEC will approve it. But bad news is SEC extended a rule change proposal allowing the nation’s first bitcoin ETF, pushing the decision deadline to next year, they said it was extending the review period for the ETF to Feb. 27, 2019.

The Bitcoin ETF may not necessarily lead to the rise of Bitcoin. The Bitcoin ETF is only a process that must be experienced on the development of Bitcoin. It does not mean good, nor does it mean bad. We should not put too much to the ETF,  which has little to do with the future trend of Bitcoin.

I don't want them, no. Paper markets will inevitably screw people over, whether because of fractional reserve, custodial losses, market manipulation. People like the idea of a physically-backed ETF because they feel it's more like "real BTC" than instruments like cash-settled futures. But since ETF shares are trust-based pieces of paper, they're still antithetical to Bitcoin. I'm also not sold on the idea that institutions need, or are waiting for, an ETF.

Bitcoin ETFs are anticipated due to its expected price boost to the market; it couls potentially spark another bull run to a new ATH, igniting yet another cycle of the market. They are only good for a certain amount of time, but once people on the other side of the spectrum decides that they have had their fill, they'd intentionally bring the market down just so they can have a good entry point again should they decide to come in on the market once more.

I neither don't or want it because it really doesn't make any impact in the crypto world. There are a lot of exchanges already and that another one (which is more safe I guess) is just another addition to the collection. I would say I still agree with it being a pass.

OP, the honey badger does not care. With an ETF, or without, Bitcoin will continue on for as long as it takes and for as long as there is no cryptocurrency worthy enough to replace it.


I believe Bitcoin will be on its way to a new ATH regardless.

There is a rather authoritative opinion that the probability of approval is only 10%. Of course this is just a human opinion, only the elect know exactly)
Jake Chervinsky, a government enforcement defense and securities litigation attorney at Kobre & Kim, has said that while the probability of the approval of a Bitcoin ETF could increase over time, as of now, there only exists a 10 percent chance for the ETF to be approved.
https://hacked.com/if-bitcoin-etf-doesnt-happen-by-february-how-will-it-affect-the-market/

yes, it is a kind of loan fund to start investing or trading in bitcoin and it can be something that can attract more people.

If you read enough threads here or go to any telegram groups you'll see a lot of people still clinging to the hope of an ETF saving their investments. Most probably however these people don't make up a large portion of the community and are even less significant when considering the total amount they have invested.


Too true, an ETF doesn't change bitcoin for better or worse, it just adds slightly more notoriety. If people invest in BTC it won't be because there's now an ETF, it will be because they believe in BTC.

I still have mix emotions about the whole Bitcoin ETF scenario. Yes, it might be the catalyst to push the market or at least improved the situation short term, but how about long term though? Will it be sustainable? Or the custodian will have so much power to control the price? Correct me if I'm wrong, custodian can wield so much power than they can decide anything without consulting its users so for me it will established centralization which can really change the outlook of bitcoin specially for purist.

The cryptocurrency plummeted this year, causing many people to lose confidence in BTC, and many people have withdrawn from the blockchain market!
Without a regulatory policy for cryptocurrencies, BTC's ETF is difficult to pass!

bitcoin ETF is definitely awaited because it could be good news for cryptocurrency for price recovery, if it is approved I am sure the price will rise again like last year and if it is rejected maybe the price will go down very deep

The community needs new blood and these institutional investors have fat wallets. An ETF will attract all sorts and other countries will follow if it proves to be success

I think they will approve. SEC giving approval for an ETF will be good pr for crypto overall. It will lessen the doubts and fear that the general public are having right now. A lot of people might want them to decline it, as we all know if it gets approved the prices will in one way, shape or form more regulated and the 100x pumps era will forever gove. I might be wrong, and this might spike the prices though. But for long term sustaion price regulation are a must anyway, we can already learn from just one year back. High price spikes are not sustainable, everything needs balance. 

The custodian would have the authority to buy and sell BTC on the market in order to issue or redeem ETF shares. They're just ensuring that the shares remain fully backed and responding to broker demand for ETF shares. They don't have any "power to control the price" because they're just issuing and redeeming shares based on demand from brokers, who are responding to the market.

Obviously a Bitcoin purist won't care for ETFs and paper markets. Neither do I.

I have read an article about that too, some early bitcoin supporters are not that impressed with bitcoin ETF.
if it will be approved, I believe it can trigger a decent rally so I'd rather have that than a bear market.

I don't think the community needs to think a lot about ETF. There are other ways to popularize Bitcoin. If people start paying for purchases with Bitcoin, this will be a much bigger step than ETF.

On one hand, a Bitcoin ETF getting approved could potentially bring in fresh capital and pump the price, it could be the trigger for a new btc rally and it could be the end of the bear market. On the other hand, I have no doubts that an ETF could encourage the big players to try to manipulate the market just so they can earn more money. I honestly don't care about the ETF anymore, if gets approved, fine, if it doesn't then, who cares? We've seen the btc price increase over the years without the need of institutional money.

Bitcoin ETF could bring legal recognition on bitcoin by governments. In this manner, this might boost the confidence and trust of bitcoin holders. As this happens, price of bitcoin is expected to rise. However, there is also disadvantage of ETF such as third party is involved here.

Some says this Bitcoin ETF will help bitcoin to rise its price. And this matters will really be a great solution on this bear market we are experiencing.

i think this is a change with me. can you give me more information

bitcoin doesn't need government approval and in fact bitcoin was created so that it doesn't require it! so if any investor is encouraged more to invest in bitcoin because the government approved of it then it shows that these people have not understood what bitcoin is and we do not want that kind of investor in bitcoin market because they do not care about things that bitcoin offer, what they care about is money so they will try pump and dumping bitcoin with their hype-fud cycles and that is not good for bitcoin at all.

That is NOT an "authoritative opinion". His guess is as good as anyone in the forum who is updated in the news, in my opinion.

Plus this quote from the link you gave,


"Surveillance-sharing agreements"? I believe that will weaken Bitcoin, and make it less valuable. We have already seen the US government sanction two Bitcoin addresses owned by Iranians.

that is mainly a political war between the two countries. otherwise it is the dumbest thing to sanction a bitcoin address which can easily be changed easier than changing your socks! and it is most probably because they wanted to set up the groundwork for discouraging people from using bitcoin to go around sanctions set by UN.

But Bitcoin is very traceable. The owners of those UTXOs might have a tougher time changing their addresses without exchanges or the "three lettered" enforcement agencies knowing where those coins originally came from.

I believe that we need Bitcoin ETF because then we will be able to see how the market will grow and new investors will start investing in bitcoin and all cryptocurrency, but right now governments are constantly shifting Bitcoin ETF, I think we still need to wait at least several years while governments would accept Bitcoin ETF.