Bitcoin Forum

Is the Bitcoin ETF storyline still alive or is this presently dying? It appears there are 2 top crypto executives who are trying to be positive, however, do they really know anything? Mike Novogratz has a Luna tatoo on his left arm and mama Cathie Wood has been making the wrong investment decisions since 2022.

Do they have real information that we do not know or is this a warning sign that they are desperate?

https://i.ibb.co/bFx8H98/048-D1877-2-FD6-409-C-813-E-F900691-A34-FE.png

All eyes are on the Securities and Exchange Commission (SEC) as it mulls a number of applications for a spot Bitcoin exchange traded fund (ETF), and two leading names in crypto are now publicly predicting that the agency will eventually give them a green light.

Mike Novogratz, CEO of crypto investment manager Galaxy Digital, claimed this week that such a financial product will launch within the next four to six months, citing inside sources.

“Both of our contacts from the Invesco side and from the BlackRock side gets you to think that this is a question of when, not if,” he said during an earnings call on Tuesday, according to Bloomberg ETF analyst Eric Balchunas.

“I think the SEC, if it’s going to approve a Bitcoin ETF, will approve more than one at once,” said Cathie Wood, CEO of ARK Investment Management, to Bloomberg on Monday. Wood’s own Ark21 Shares ETF is technically first in line for potential approval on August 13, though most analysts expect the SEC to postpone this approval date.

Read in full https://decrypt.co/151809/spot-bitcoin-etf-sec-approval-michael-novogratz-cathie-wood



Also, is the present pump on bitcoin caused by speculation on Ark's ETF application which is scheduled for approval on August 13?

SEC did not approve any Bitcoin Spot ETF because they did not want to do it or they had to reject approvals with pressure from Democrat party and White House.

I agree with Cathie Wood that when SEC approves a first Bitcoin Spot ETF, it will open a new gate, put a case as reference to approve more Bitcoin Spot ETF applications later. The first is always the most expected and most hardest application to be approved. Later applications and approvals after the first successful application will be more easily. Like a first Bitcoin exchange, a first Bitcoin Futures ETF ... already helped Bitcoin market and adoption a lot.

Getting conflicting info here. The first Bitcoin etf decisions is at the end of the month. However Blackrock believes it will be 4-6 months until they are approved. So most likely they are betting on the etf being delayed until the end of the year.

There was some crypto framework that was put into place today and it hints at perhaps an etf approval is likely. However it’s all a guess. This move we had earlier looked organic however and maybe someone knew something ahead of time.

I don't think that bitcoin ETF will be approved so soon as Cathie Wood said or maybe they have an insider who is giving them some information about ETF approval. Definitely,once it is approved by SEC,this will be a great opportunity for bitcoiners and Blackrock since bitcoin price will pump very high and we might have a price above 100k in the next ATH and a win win for bitcoin and the adoption of bitcoin will increase. Everyone is waiting to hear the conclusion that SEC will come up with either a Yes or a No,but let's be positive on their final say on the approval of bitcoin ETF

I guess it never dies because people keep posting about it? Remember in 2017 top banking and top crypto execs said the same thing about ETFs and guess what it's now 6 years later and they're saying the same thing.

Some of these guys make a living from selling quotes, so don't be too dependent on what they say. They're paid to do so ;)

It could actually get approved one day, it's been a long time coming don't we think all? I believe the democratic party are against ETF approval for now but it's possible if the present president get replaced in coming year, if other candidates that are Bitcoin friendly gets to the position they can finally make it possible, this is what I am looking forward to, but for now I don't think it's going to be possible still.

I believe that there is still a chance for it to be approved. It's not certain. The SEC has previously rejected Bitcoin ETF applications so there's no guarantee they will approve this one now. And I think there's a possibility that the approval of the Bitcoin Spot ETF might be delayed until the end of the year. It seems like they might want to observe how the crypto market performs in the months before making their decision.

However, overall I personally maintain a positive outlook. Eventually, they will be approved and will serve as a catalyst for the industry.

On the speculation whether bitcoin ETF will be approved or not, I was scrolling on this news channel on telegram i think yesterday, and found this news they posted, though without any source, but they information they shared is from an insider, check the screenshot below.
https://talkimg.com/images/2023/08/09/GjtCT.png
Though they did not say anything about the time the approval was going to happen, but i think I have to agree with you that it may likely not be approved on August 13th as claimed by Cathie Wood, if I should predict, the approval might extend to this year ending or possibly next year, so lets look forward to that and also continue to stay positive about it, like you said, the approval will be a great win for bitcoin and its investors, and could be the catalyst for the next bull run.

There are no leading names here, regardless of the fact that the media and people like you give them space and additional promotion. The people we're talking about here are just looking for a way to constantly be in the public eye to promote themselves and their companies, and their opinion about the ETF has no meaning or influence on the final decision.

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What kind of pump are you talking about - 2% in 24 hours you call a pump? If anyone gets approval for that ETF, it will surely be the company that has the best connections with the US government, and it is certainly not some secondary company that reduces the value of the assets it manages by almost $35 billion in a year.

yes, I do remember the hype on 2017 and everything related to bitcoin, not sure what happen to BAKKT though because it seems that time they are really that hype regarding bitcoin.

So it's an early speculation about this top crypto execs, for sure they have their narrative behind as to why they wanted a approval. For sure they can smell wall street money flowing in the crypto market and they will have a lot of clients for sure.

I am also expecting to see the bitcoin price move to ATH. But I am also careful about these companies that are behind the application for bitcoin Spot ETF approvals. If they can cause the price to rise they can also make the price drop. I am happy that these applications and hopefully future approval will create more awareness and make bitcoin more popular but I am scared of putting too much power and influence in the hands of powerful corporations. These firms can be used as a manipulative tool of the government.

But I am also confident that bitcoin can gradually become independent and free itself from all these influences. It might take some time but you cannot put bitcoin in a box.

I really don't see the surprise over here. In the past the SEC always delayed the decision as much as they could and at the end they just rejected the ETF, probably it was just a way to gain some time, they never actually had any intention of approving it in the first place. Now many things are changing and there are important funds behind these bitcoin ETFs so they can delay it again but at the end I think they will approve them. These companies want to make money, and if they waste time and resources for an ETF approval in case of denial they will want clear explanations, not just some stupid answer like they did with Coinbase.

It never dies because there are pending applications on it. My question was on the ETF storyline, if it is very much alive or dying. There was a small pump which has recently occured and I wanted to know if it might be the beginning of a much bigger pump based on if the ETF storyline is alive or dead. Also, it is another chance to laugh at the clown with the Luna tattoo ehehehee.

You might also be correct. It has been 6 years and uncle Gary might have never read the applications. It appears I was also correct in my first assessment. Cryptonews media are using old storylines from 2020 and 2021 to dump on us because they have nothing new to write.

I am sure that currently the pervasive thinking in SEC is to reject any ETF application as the agency is not really excited with it and it is looking at the whole crypto industry with a lot of disdain - in other words, SEC is not willing to work with the crypto industry so why bother approving an ETF? Now, having said that, let's see the kind of influence that Blackrock within the agency as we know how huge this outfit is and I know that they got enough connections everywhere that can push or pressure SEC to say yes finally. We are all waiting for its approval or eventual demise in the process...and somehow this can be influencing the movement of BTC in the market.

Bitcoin's rise after each halving is often accompanied by a big news that makes the bitcoin rise sharply, so the bitcoin halving big news may be an ETF, whether that is possible or not, but all the news at the present time is for media consumption, and when it is approved, the big difference will happen, which is something that if it does not happen, it will happen after the beginning of next year.

The current analyzes are to arouse the desires of the public, and it is often postponed on August 13, and the change of Bitcoin from the price of 28k to 29k is not linked to the Bitcoin ETF, which will inevitably lead to a price change of more than 50%.

The cost of removing that tattoo would be much less than the profits he made from promoting LUNA

Or if there are pending applications, or if there are failed applications, they will just have to refiled it over and over again. So it's a game for those who filed and for SEC. Maybe there will be one day that SEC can see no flaw on the applications and will have to give in to the pressures of approval.

But I do agree that it has been years already or it could take years again for SEC to get this kind of approvals.

However, who knows on the next election, maybe if the next sitting government will be a pro-crypto then we might see this approval very soon.

I didn't misunderstand :) I was referring exactly to the ETF storyline, hence why I referred to 2017 which was the start of the storyline. It should have died many times but media and people seem to think it's still worthy of ressurection lol

I promise you, just as with every ETF application or storyline, there will be no big pump after approval :)

I wouldn't bet that something like that won't happen, because companies that want spot BTC ETF are not amateurs who go into something without doing everything possible to succeed. I am primarily thinking of BlackRock and Fidelity, but also of many other smaller companies that are waiting for their opportunity in this business. In the event that the SEC approves such an ETF, the media will certainly do their job, and those companies will certainly allocate some funds to promote this way of investing in Bitcoin even more.

Talks about BTC ETF are one thing, and even approval for futures ETF - and spot ETF is something completely different, because in the event that investor interest is high, it means that demand will probably exceed supply.

I strongly believe that SEC will eventually approve bitcoin ETF. It may not happen today or tomorrow but surely in the future. The way SEC and FBI is moving against the actual Bitcoin and other cryptos, they will have to make some alternatives available in the market before banning the actual assets. ETFs are usually not settled physically so they will eliminate the crypto risk from the economy and also provide an option for the investors to enjoy the price changes of Bitcoin.

These people have absolutely no idea whats going to happen and they have as much information as we do, they are not going to know anything more than we do and if you trust them and make a decision based on what they say, then you are going to be let down. Just look at the tattoo and you will understand what I mean. Whatever you do, always check the information news, not speculation news, some of the news would be more like "FED has increased the interest rates x point more" and that's information, thats data and you should be considering that important, and some of them will be like "warren buffet said bitcoin is a scam", and thats not information, thats opinion, ignore those.

well, we have seen with or without BTC ETFs, this market is continuously growing. so whatever SEC is planning here, this market will continue to thrive. they may influence the adoption but it won't stop the crypto or btc market to proliferate. and they have seen that even banning this market by big economies like China, this market didn't top from growing. so yeah, they will eventually approve those btc ETFs.

I agree that hyping the storyline is not a certainty in pumping the price. However, I very much disagree on the speculation that there will be no pump after approval. Do you remember CZ's billion dollar twap on March 12? There will be several of these billion dollar twaps once the SEC approves all of the applications of Blackrock, Fidelity, Vanguard, Ark Invest and the others. The pump on bitcoin will melt faces.

They should be confident. After all, it's their applications that are on the line. They cannot just be pessimist in front of the camera or the public. These people are always bullish. They are always positive. That's what they have to do. They always give exaggerated predictions. They're invested in it heavily. Besides, they're probably trying to influence the public as much as possible. They're probably trying to condition their minds. They are the ones who will benefit more than anybody when their attempt to cause a FOMO succeeds.

Fair enough I guess. Spot ETF is definitely something else on its own, and for me, if I'm wrong I would be very happy with my mistake if this approval leads to the demand ETFs are supposed to bring :)


I actually don't remember at all but that's my blindness towards social media these days.

Hope you're right, waiting for my face to melt :)

As far as I know, the SEC has nothing against Bitcoin, or at least not to the extent that it attacks the shitcoins industry, and I don't know where you get that the FBI is going against Bitcoin?


You seem to be a bit lost in this story, because here we are talking about spot BTC ETF, which means that funds will have to buy BTC in order to issue shares in the fund - and futures BTC ETFs are already approved in the US anyway.

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However, this is only an assumption, we will see the real results only if such an ETF is approved. What is definitely certain is that there is a big difference between futures and spot BTC ETF and that it is wrong to think that absolutely nothing will happen if such an ETF becomes available on the world's richest market.

Gensler's term as chair of SEC doesn't end until June 2026. So no chance for an ETF approval for at least 3 years. As we all well know, Gensler has been very anti-Bitcoin and anti-Crypto. There's no way he lets an ETF through. The talk of Blackrock's ETF getting approved is no different than talk of every other ETF over the past like 6 years getting approved. It's all hopium. Though unlike earlier attempts from years ago, we have a fervently anti-Bitcoin SEC head now so even the hopium is just pure fantasy at least for the next three years.

A couple top crypto execs saying something doesn't make it true. Top crypto execs have plenty of times in the past made completely absurd speculations. People should forget about this ETF stuff for now, we are years away from an ETF. I think it'll happen this decade, but it'll be 2027 or later.

However, you might have forgotten that uncle Gary also mentioned that everything in the cryptospace is a security except bitcoin hehehe.

Also, hopium? You might be underestimating Blackrock. I would never bet against them on not getting their application approved before Gensler's steps down as SEC chairman on 2026.



SEC Chair Gary Gensler reiterated that Bitcoin is not a security but a commodity under the Commodity Futures Trading Commission (CFTC) purview. He also stated that “everything else other than bitcoin is a security,” which has significant implications for regulating cryptocurrencies and digital assets in the United States.

Source https://cryptoslate.com/sec-chair-gensler-confirms-everything-other-than-bitcoin-is-a-security-implications-and-analysis/

Those skeptical people might be correct in their skepticism on the news about these top executives' confidence on the approval of the ETF. I shared the news on August 9, however, after 6 days bitcoin bitcoin was being dumped.

There is presently another former top executive that declared his confidence that an approval will be within 3 to 6 months according to the social media accounts of Coingraph and Coinsumption. Should be expect another dump? Are these positive ETF news being shared because the whales want exit liquidity?



OPINION: The U.S. Securities and Exchange Commission (SEC) will register the first spot Bitcoin ETF within three to six months. This opinion was expressed by former managing director of BlackRock, Stephen Schoenfeld.

Source https://twitter.com/coingraphnews/status/1711028298954715353



BREAKING:

Former BlackRock Managing Director, Stephen Schoenfeld, believes the SEC will register the initial spot Bitcoin ETF within the next three to six months.

Source https://twitter.com/coinsumption/status/1711058345933553941

If this is a chess game, Gensler's SEC has only one piece left and that's the king. The Bitcoin Spot ETF applicants and the Bitcoin supporters are still left with a handful of pieces. In other words, Gensler's SEC can only delay what's about to definitely happen. But we know that the end will be a check mate for the SEC.

SEC has repeatedly been postponing the decision, but that's almost the only thing that they can do. The final deadline will eventually come whether they like or not and they will have to decide. If the decision is an approval, then that has always to be the end. But if the decision is rejection, the next round of applications will bring everything back to square one. The goal of having a Bitcoin spot ETF won't die. This will go on and on until the SEC is left with no reason to once again issue a rejection.

The whole cryptocurrency industry is awaiting for the eventual approval of ETFs whose applications are now pending in the cabinet of Gary Gensler's SEC. Now, which application can finally get the nod of SEC is something that is good to watch and how this can be impacting Bitcoin and the rest of the industry. I am quite confident that SEC will have no more choice but to approve one application in 2024 and making sure that strict enforcement of regulations is in place. I am just wondering how many of us here will be investing in an ETF for Bitcoin rather than directly own a Bitcoin...

That's the twitter account for Coingraph, not Cointelegraph. I'm not sure how trustworthy that site is but having a name so confusingly similar as a well known crypto news website seems kind of sketchy.

It's only natural for executives to be optimistic. That's been the general sentiment for a while. There isn't any rational reason to keep denying applications. Whales will always look to take advantage whenever there is a hyped up event happening. Whenever there is disappointing news of course they will dump but they are not necessarily the ones who created the hype for their own selfish reasons.

@FinneysTrueVision. Thank you and agreed. I was also looking for the source in their websites and on google. I cannot find them, however. This might be paid for tweets from whales who might be trying to hype everyone before they start dumping on out faces again?

Yeah, it's possible that we might see some whales or entities that wanted to push for SEC to approve the Spot Bitcoin ETF. So I wouldn't be surprised if there is such an army at the same time there could also be at the other side of the spectrum creating FUD around.

It might be inevitable though that approval is coming, just a matter of time for Gensler to give it a green light. And I think that there is huge pressure on SEC right now as obviously, the biggest name in the financial industry are putting everything they can to be in this space. If this happens then we can say that crypto is here to stay and no one can stop it.

News update. Mike Novogratz with the Luna tattoo has again declared with confidence that one of the bitcoin spot ETF applications will be approved before the end of 2023.

We have witnessed how these crypto CEOs like CZ, Justin Sun and Sam Bankrupt-Fraud are very much similar to clowns, hustlers and scammers. I reckon with the Luna tattoo on his arm, Mike Novogratz might be included in the clown category hehe. However, what does everyone speculate on his prediction? Does everyone agree or disagree?



A spot bitcoin exchange traded fund is coming as soon as 2023, according to Galaxy Digital CEO Mike Novogratz.

The billionaire crypto bull pointed to multiple requests by firms to launch a spot bitcoin ETF over the past year. Those will undoubtedly be approved by the Securities and Exchange Commission, and that could come as soon as before the end of 2023, Novogratz said in an interview with CNBC on Wednesday.

"It's going to get approved … We think it happens this year in 2023," Novogratz said. "All the indications of dealing seem to be heading in the right direction."

Source https://markets.businessinsider.com/news/currencies/spot-bitcoin-etf-outlook-crypto-mike-novogratz-sec-approval-blackrock-2023-10

Gary was on tv today talking about the etf approval process. Judging by how he was talking I am leaning that eventually they will be approved. Normally he is very negative at crypto anything but the way he talked during this interview made it seem that they need to approve it eventually.

The question is when. It might not be in 2023 because we basically got 2 months left and excluding holiday and another government shutdown there isn’t much time. But most likely sometime in first half of 2024.

NY Attorney General filed a lawsuit today against Digital Currency Group the provider of Grayscale Bitcoin Trust.
How much will this impact the chances to convert the Trust to spot ETF? I'm surprised bitcoin price is still pumping right now despite this news.

In fact, there is dozen of a new report that the SEC is going to approve the Bitcoin ETF including "BlackRock CEO Larry Fink Calls Bitcoin Pump A “Flight to Quality”" - https://cryptopotato.com/blackrock-ceo-larry-fink-calls-bitcoin-pump-a-flight-to-quality/

or the recent news "JPMorgan expects spot bitcoin ETF approvals to come 'within months'"
The Securities and Exchange Commission will likely approve multiple spot bitcoin exchange-traded fund applications soon, given it did not appeal a recent ruling in the case brought against it by Grayscale Investments, according to JPMorgan.

"The timing of spot bitcoin ETF approvals remains unclear but should happen within months and most likely before Jan. 10, 2024, the final deadline of Ark Invest and 21Shares applications," JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Wednesday. "This is the earliest among the various final deadlines faced by SEC across spot bitcoin ETF applications."

Last week, the SEC let its appeal deadline lapse in the Grayscale case, where the asset manager had won in court the previous month.

There is now "increased optimism for multiple spot bitcoin ETF approvals," the JPMorgan analysts said. Last month, the analysts noted that the SEC would likely be forced to approve spot bitcoin ETFs as a result of the court ruling. - https://cryptonews.net/news/bitcoin/27712619/

Are we beginning to witness more optimism on an approval? When I share news about ETF approval before, the replies from the forum influencers were more negative than positive. Presently it is no reply or some positive replies.

In any case, now that everyone is optimistic, I am beginning to be more skeptical hehehe. The news on more crackdowns from the American government because they claim that Hamas is using bitcoin might influence uncle Gary to reject the next scheduled application on Novermber 17.

However, the pump on bitcoin might not stop because this pump presently might not be about the ETF. This might be something similar to what George Soros and his group are doing before. Powerful people create fear on the market when they are buying and create hype when they are selling.

Maybe because you give space on this forum to people who have already proven that they are completely irrelevant in every sense, and you call them some kind of top experts. Who cares what Mike Luna or some Cathie think when they turn everything they touch to ash.


I heard that in 99% of cases this organization is financed with the US dollar, will something be done about it or will we continue to hear that Bitcoin is only used by terrorists and criminals?


It all started with a fake news about the BTC ETF, and it seems that the average internet user has not yet realized that the news is fake - or maybe they have started to understand what the spot ETF could mean for the price of BTC. I think that some trends speak for themselves.

https://www.talkimg.com/images/2023/10/20/T2X3C.png

Since the topic is once again relevant and active, I'd just add new info as well. A 6-day-old article (https://www.ft.com/content/e03a370b-777f-46c2-8576-d1cee731efe2) by Bloomberg mentions that their analysts consider the chance of Bitcoin ETF approval by the SEC before January, 10, to be 90%. It's a very high level of confidence, and while I've been sceptical about the SEC ever approving a Bitcoin ETF, I must admit that I surely know less about the topic than Bloomberg analysts do, so I must account for the high likelihood of an approval. Perhaps opinions of some people who were sceptical are changing as well for similar reasons.

Are you implying that the speculations on approval of ETF before the end of 2023 from Mike Luna and auntie Cathie are completely wrong and should have no chance? I do not care if you and other people from this forum think that they are irrelevant because it can be argued that we small minnows are the irrelevant hehehe.

We should not act with arrogance because we do not own firms and hedgefunds that have millions of dollars to invest like auntie Cathie and uncle Mike.

Also, I am sharing the news because I want to know what everyone's thoughts on the approval based on Mike Luna and Cathie Wood's statements. Are they lying and hyping bitcoin to dump on November or are they speaking sincerely?

@kryptqnick. We cannot be certain on the likelihood of approval, I reckon. Uncle Gary and his nephews in the SEC have been controlling the decision process on the ETF and on what is a security-not a security.

Yeah you got the Bloomberg analysis along with JP Morgan saying it will be approved within a few months. We also got Coinbase saying it will be approved also in a few months. I think also Grayscale said they think it will be approved before 2024.

In my opinion the JP Morgan one is the most vital and since they brought this up it means there is a good chance it’s going to be true. Same with the Bloomberg analysis however I don’t know exactly how accurate those Bloomberg polls are exactly.

It does not necessarily mean that they are wrong, but did they say anything new that some others before them had not already said? What I want to say is that you give way too much attention to people who definitely don't deserve it, especially someone who spent months promoting a project that caused huge financial losses in the tens of billions of dollars.

Is there any difference at all between your old friend Tom Lee and these people who today you think know more than us mere mortals?


They don't have the power to move the market in their favor, they just ride on a wave that was started long ago and wait to see what happens. In fact, no one cares what they think for any reason, because as I already wrote, their business decisions are not exactly something that gives them credibility.

@Lucius. I also do not care on what they think, however, what I want to speculate on is if they are doing these bullish predictions to create hype on bitcoin then dump on November 21 to create a sell the news occurence or are they doing this because they are also beginning to feel bullish emotions similar to much of us in the forum.

Are you also feeling the bullish emotion?

Also, thank you for reminding me on Tom Lee. I have forgotten about him. I will find some news updates hehe. All of my attention is on my new friend Jim Cramer hehehehee.

I also feel it is a matter of time before the ETF gets approved. The only aspect I doubt is it happening before 2024... I don't see that feasible because the most probable time should be 2024.

I share in your thought because JP Morgan will not put it out if it is not a credible information.  Knowing they are of the opinion that the Bitcoin ETF will be approved actually makes me optimistic that we are in for something great in the near future.

The reason behind the postponement and postponement of approval by the SEC seems to give a sign that the SEC cannot reject the Spot Bitcoin ETF application that has come to their desk for approval. Because the SEC can't deny it. So they will just postpone it. But in the end it seems like the SEC will agree. So yeah, I agree with the saying that it's not about if but about when. We just have to wait for the final approval deadline. And it seems that when the Bitcoin Spot ETF is approved it will automatically strengthen Bitcoin's position in the world of digital finance and investment. And inevitably people who are initially cynical about Bitcoin will start to accept it too. Bullish seems to be in sight.

I think they were denying it until Grayscale comes in to fightback. It just need a big tech company with deep pockets inorder for SEC to back away. Its like fighting back a bully.

If grayscale just have a good argument yet no money to last like Ripple labs I think they will just prolong the fight but I guess the situation changed because of the economy as well.

If they know something I think they are expecting to see BTC as currency reserve since the other pole (China) is using gold as reserve. I've read this somewhere.

indeed the Sec doesn't want it but they is now way without accepting it. recently one fake news about ETF approvals create positive increase of price in the market. Now all eyes of people on the ETF approval which potentially occur in the first month of 2024. This approval will attract lot of Investors who think that Bitcoin is not safe investment and preferring trading through ETF tokens.


According to below data the most of company last deadline for approval is January 2024. Ark and grayscale are the only companies which application could be approved before 2024. This is Bloomberg report which maybe wrong but I think there seems no approval in this year.
https://i.ibb.co/2WMYc2r/etf.jpg (https://ibb.co/VJCpMyG)

This ETF approval is getting more serious every day, many people are now focused on this approval, I wonder what will happen if this ETFs never get approved or they release a bad news that ETFs are never going to get approved, there will be another massive sell off isn't it?

Either way Bitcoin will be fine, it doesn't exists because of the ETFs so... But I will like to advice people not to be too dependent on this ETF thing, anything can still happen.

Maybe the fake news about ETF approval was a test to see if it will really impact the market condition, and now they have the answer already, just be prepared.

Let's be honest, they don't care what will happen to Bitcoin, they only care about the balances on their bank accounts and it's obvious that they will do everything to collect as much money as possible, even if it means lying and causing huge financial damage to others around them. November 21 is only one date that can be important, but if the SEC finally approves the spot ETF, it will only be in the final deadline, which is only at the beginning of next year.

After all, do you think that anyone with a bit of common sense would trust a character with a Luna tattoo on his shoulder?


In general, I can say that I feel that the halving is approaching, although this does not automatically mean that the bull run is starting now. We can speculate whether the current price increase is the result of speculation about the spot ETF, or whether the price is only recovering due to increased accumulation and something we can call the pre-halving effect.


Maybe you're kidding, but if you don't, stop showering us with the wisdom of that man, because even though there are a lot of confused people in the crypto world, he would definitely be one of those who could take the title of the most confused man ;)

That is exactly my first thought on previous supposedly information from other High Profile like CEO / Founder of any company. On the contrary if they actually has an insider information I doubt they would bother to share it, they would use it for their own interest. Just like what they do when they share their 'information', they just want to get attention or else they want to increase their own company stock price by saying their ETF is going to be approved by SEC.

They will despite the holdoffs that they are making. They themselves said that bitcoin is not like other cryptocurrencies out there in that it's not a security. So they can pretty much allow it to be traded in the US market just like any other stock out there. They are kind of delaying this for some reason and I'm thinking it's to make sure it coincides with the halving and the subsequent bull run that it will bring, but incidentally we all got jackshit information about what's going on, and I'm pretty sure these top "crypto execs" you're talking about don't know anything about the situation either, and they're just saying this to make sure no one's losing hope on the bitcoin dream. At the end of the day approved or not bitcoin will flourish. It's not like the US is the only country in the planet after all, and with their loosening grip to the world economy it would only be time until the crypto world stops needing them.

Member when top crypto execs (whatever does that mean, anyway, haha) were predicting several hundred thousand dollar Bitcoin rallies in 2018? Or actually,  more recently, when they were a lot more Conservative with 100k predictions a year or two ago?

The ones given the mic now are party crashers. Still believing they can influence.

We are in a good place. Natural halving and network pressures will effect the six-figure prices we crave. No need for the artificial corporate leanings of these ETFs.

Thank you for this reply and I agree which is also making me speculate that they might only be hyping bitcoin now to create a pump. We cannot be quite certain if they are trading bitcoin or the futures market, however, if they are, they should certainly dump before the SEC announces their decision on November 21.

Also, agreed that there are other scheduled deadlines, however, I wanted to ask more about November 21 because this is the last date for an approval this year. Mark Luna, aunt Cathie, JPMorgan and Coinbase have also made their declarations that an approval for a bitcoin ETF is a certainty before the end of 2023 and it appears their statements might either be an overestimation or a pump and dump hype.

When the first ETF approval rumor's, the SEC made it clear to the public that they didn't approve any single ETF application but they said that they will further investigate those application and after completing those application they would published final results in January. But some investors are positively hoping that the approval of ETFs will be approved. Bitcoin's recent bullish movement has been steadily moving in that direction. But I don't think they will approve ETF at that particular time but if those ETF applications get approved then BTC definitely will get the ATH price.

More ETF approval rumours. Anyone with a half-decent brain can tell without a doubt that these rumours are baseless are silly since the SEC usually rejects ETFs and only approves a couple of them after detailed analysis.

The current bullish BTC run is inorganic and is great to sell your stash if you bought at a lower price earlier, but it won't last for long in my opinion.

My personal feeling combined with the attitude that the SEC has when it comes to spot ETFs tells me that they will use the maximum legal time they have to delay their decision, while at the same time they can come up with a good excuse why they will ultimately reject all requests. The only thing that is different this time is the involvement of a company that is very powerful and allegedly very closely connected to the top of US politics, and we all know that politicians are the ones who make decisions in the end, especially if they are motivated to do so.

In view of the upcoming presidential elections, a logical question arises whether the current politicians should anger some big players and not grant them something and thus take generous donations out of their pockets. It's no secret how the system works, and lobbying is something they've perfected in the US, right?

@Lucius. It appears that you might be proven correct. Cathie Wood might only be larping about this before end of the year ETF approval. Her investment firm Ark Invest has dumped Coinbase stocks and GBTC shares on the traditional market. I am quite certain she will also dump bitcoin on November 21 or before this date if she gets confirmation of a disapproval on the ETF from uncle Gary.

https://i.ibb.co/n0rQNGP/FD6-F35-A0-F5-B8-4565-91-A4-E54-EA4077795.jpg

Cathie Wood's Ark Invest sold 42,613 shares of Coinbase and 100,739 shares of Grayscale Bitcoin Trust on Monday amid an ongoing bitcoin-led crypto rally.

Source https://www.theblock.co/post/259126/ark-invest-coinbase-gbtc-bitcoin-price-rallies

You got a point there but maybe they could have done something better than it if they really want to give a hope in the public because I think there is still a chance for them to deny or reject the proposal. My only advice to you and to others is don't hope too much. In case it got approved, I don't think the positive effects are going to be applied automatically but maybe it will still take some time for us to see it. It could be true that this ETF is the thing that some are waiting before they finally embrace BTC but maybe there are also some who will look for more developments and legalization. Oh well, that's their decision.

Many of us are already bullish with BTC even before this news/rumor about ETF came in.

This article was published on October 24.

If this information is real, it appears that Blackrock is buying bitcoin already. It also appears that the pump on bitcoin might not be a pump and dump. This pump might be caused by Blackrock! I speculate that on October 30-31, we might witness a halloween pump. Blackrock likes to work on Monday and Tuesday, I have heard hehehehe.

https://i.ibb.co/0MPdgJ6/EB71-E3-E0-50-AE-4-DD1-BC19-77-DAA9-FC8887.jpg

Eric Balchunas, the Senior ETF Analyst for Bloomberg, pointed out on X an intriguing change in BlackRock's spot Bitcoin ETF amendment: The world's largest asset manager is planning to seed the fund this month.

The information was discovered by Scott Johnsson, an investor at Van Buren Capital, who also noted that BlackRock has obtained a CUSIP number for the ETF. A CUSIP number serves as a unique identifier for securities, which is essential at the time of issuance and trade settlement.

Source https://thedefiant.io/blackrock-plans-to-seed-its-spot-bitcoin-etf-in-october

It seems that things are going quite badly for her company, because how else to explain that she is selling at the moment when something positive started to happen, and it seems that from a few days ago we can expect a few more pumps in the near future. But when you need money, it's obvious that you have no choice but to sell, regardless of the circumstances.

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I previously read info on the forum that such a possibility exists, although I thought that any company that applied for spot BTC ETF would buy BTC only after receiving approval. In any case, it is very likely that all this news about BR stimulated the market, and if it is not about some kind of manipulation, it is possible that we will not have to wait until next year for the SEC to announce "good news".

@Lucius. It certainly is similar to other hedge funds and investment firms in traditional finance. They are dumping everything on retail investors because the whole traditional market is beginning to enter a bear market hehehhe.

Also, maybe they need the cashflow and liquidity to follow Blackrock's bet on bitcoin. Are we beginning to witness crypto as a safe haven or is this only market manipulation.

Crypto as a term encompasses all cryptocurrencies/tokens and I have no doubts that the answer is NO - and even Bitcoin in mainstream circles certainly does not have the status of a safe haven, considering its volatility and still very easy manipulation +  the total daily trading volume or even total marketcap.

Regardless of the current optimism among investors, I still wonder what the long-term consequences of the possible approval of the spot BTC ETF in the US will be.