Bitcoin Forum

Just now, another BTC ETF ticker got listed on the DTCC website. This ticker belongs to "INVESCO GALAXY BITCOIN ETF COM SHS B" Well according to the news, it might have been listed a few days back and we (the crypto community) came to know about it in the previous 1 or 2 days. And if you visit the source then you will find that Invesco applied for the ETF (21 June) just after 6 days of applying for ETF by Blockrock (15 June).

Overall I think it is bullish news even though there is not that much hype about this listing of ETF as news outlets said it might be listed for a few days but it is confirmed by them that it was not listed on the website till 25 October.

Well, let's see how this news turns up to be beneficial for the market but I don't think it will have any good impact because most people know the name of astronaut who stepped first on the moon and they don't know about the second or third astronaut.  ;)

https://www.binance.com/en-ZA/feed/post/1588263

Price has been on the uptrend and we can assume that it has been due to the recent and working ETF craze, back when this happened a few years back this was not prominent because the idea did not go into realization.

Mainstream investors will love this and will be putting in a lot of money on the markets through the ETFs. Get ready for some crazy movements and price changes. With more such ETFs coming in I am sure some people will get scammed by fake and shady ones but that is all part of the craze.

It will be interesting to see how the things settle once the intro-hype ends.

This is a pointer that we might have multiple ETF approvals soon. Even though many people will see this from the angle of market manipulation, I don't see it that way and I feel this is not mere coincidence... there should be something going on behind the scene.

Whatever it is, I know its for good as far as Bitcoin is concerned. Our focus should be on how to ensure we secured as much Bitcoin as we can before these approvals starts kicking in.

though not a sign of actual sec acceptance. the entire speculative market are seeing that serious candidates are interested in/trying to get bitcoin exposure and its not a simple currency for nerds and technofans. (many novice investors thought its just for computer nerds)

adding more institutions to the list of possible lineup of an accepted application makes the chance of ANY ETF happening more promising

so there is more confidence of an(y) ETF happening no matter who manages it

In any case, it does not seem to have affected the price much, which has fallen by 0.7% in the last 24 hours, within normal volatility, even low for bitcoin. I believe that ETF approvals are already discounted in many cases by the market, and what will happen with the news of the effective approval is that many large investors will fleece retail investors who will buy for FOMO and sell in the fall.

It's the through enough at the wall and something will stick mentality.
ETFs keep trying and sooner or later one is going to get approved and sell like mad, which in *theory* will drive up the price of BTC.
Which ones will matter and which ones won't is probably a more interesting discussion.
Everyone knows the BlackRock name, but does anyone care?

Or will it be a smaller ETF from some smaller place that people feel more comfortable with?

-Dave

It seems like DTCC always lists or records every ETF application that goes to the SEC, in my opinion this is like a notification that there will be a new ETF that will later be traded. However, please note that the listing carried out by DTCC does not necessarily mean that its ETF application will be approved by the SEC. There are still 2 possibilities, namely accepted or rejected.

Hopefully we are lining up for something that has not happened yet in bitcoin’s lifetime, mass institutional inflows of big money. If the SEC approves one spot etf then the likelihood is they will have to approve multiple to show there is no conflict of interest. Buckle up because we could be set for explosive upwards moves.

Personally, I see that all discussions about ETFs are based on analyzes and most of them are to attract views without having a realistic impact on the SEC’s decision, so I stay away from any news or clicking on links. It’s all for two months and we will see if they are right or not. In short, it is a prongda to attract more free views and I hope it stops. News and analysis on this matter, especially since most of us do not have much information about SEC decisions and how we can influence them.

I've seen this news but it seems like it is not as impactful as the previous one, the market is continuously ignoring this development. The ticker listing is not a big deal, now for what we are waiting for is the real announcement of the ETF approval which will be a piece of good news, Gray recently changed his attitude against Bitcoin, I was reading a couple of his tweets and it was worth noticing that, he had changed his -ve attitude about Bitcoin, from a recent times developments.

Probably he'll be accumulating Bitcoin as well  ;D ;D ;D. Still own some grudges about crypto industry institutes not sure why and for how long it will last.

You have a valid point, but I don't think it would be wise to ignore such news because this is the time to analyze the market and make use of it. I don't know how true this is, but many investors are considering it an accumulation month. If that is true, then we might see some ups and downs, and all of those ups and downs will be to manipulate the market to fill up bags with some extra satoshies (buying low).

Overall, you said what DTCC already stated: that listing a ticker on the list does not mean that it will be approved. And to be honest, I am also very frustrated by listening to the word "ETF." I mean, we should start to call it something else, maybe a funny name.

You are right, who know how many tickers of BTC ETF we are going to see this month on the DTCC list but that does not meant (https://cryptoslate.com/invesco-and-galaxy-spot-bitcoin-etf-ticker-seen-on-dtcc-list/#:~:text=DTCC%20listing%20does%20not%20equal,according%20to%20a%20DTCC%20spokesperson.) that they are going to approve it and it have written on there disclaimer pdf.

And just like that, the price goes up again above $35k just like the last time when we have the ETF being listed on DTCC. So the question again arises, is this for real or sign that we will eventually get the ETF or just another manipulation and test from some entities behind to see the reaction of the investors again?

For us though as we have seen the effects, are we going to be riding on the hype again?

So let's wait for a couple of days an see where this things are going to be. If it is for real or not, it seems that it did have another significant effect and maybe this time we will see the price climbing as high as $36-$38k.

Could be the reason why we've seen the push went to $35k just this day.

I hope that they're for real and these tickers are definitely the Bitcoin ETFs filed by these institutions that have been approved by the SEC. We already see the good effect of it to the price of Bitcoin and it is making me more optimistic that there's more to this and all we have to do is wait maybe before the halving and let it go if it comes after it.

Tbh I'm not entirely sure what Invesco Galaxy or Alerian for that matter. They might have filed for an ETF, but to me it still doesn't mean anything unless it's accepted and confirmed by the SEC. The thing is, people have picked up this update and the price suddenly went bullish. We are yet to see one ETF being accepted in the open by the SEC, so at of this point there's nothing but empty promises for this to come into fruition.

It is another method to manipulate the market in short term. In long term, we don't have to mind about those tickers because Bitcoin Spot ETFs in the USA. is a matter of time. SEC will have to approve Bitcoin Spot ETF applications in the USA because it is not logic to approve Bitcoin Futures ETFs but don't do the same for Bitcoin Spot ETFs.

We know a fact that Futures is more risky than Spot, we all know about that, SEC know about that. They only try to delay their approval for a first Bitcoin Spot ETF maybe because of Gensler or Gensler is only a person who is in charge of executing the task from a higher position person.

Perhaps the market has reacted already, or it is price in as we are just above $35k after this news has been released (again). It could still be a big deal for others who are just waiting for any news that will trigger the price going up again.

Nevertheless we all know that this is not the final and just like the first one, anytime they can removed this ticket and then simply apologized to the investors for the supposedly "Honest mistake". I don't think that it's enough to trigger the market to reach $38k.

That's cause you haven't been affected by the market manipulation yet so you're not yet ready to accept that there's going to be a market manipulation, BlackRock should've ticked off the warning signs that the possibility of market manipulation is going higher because BlackRock is an influential company and knows how to make the market move to their favor I am sure that we would see it soon but for now, I guess we just have to watch out.

It's going to be all bullish news now, as I have expected the Price to soon reach the $40k mark. The previous two weeks' candles are so freaking bullish and there is no way this trend gets stopped now. Also in 6 months, we are going to have another Bitcoin Halving so we all know what's about to happen. Happy for all of us who bought more instead of selling in November 2022.

Can't wait to hit my target price of $178k in November, 2025.

Yeah, well, never forget that there's life outside of the candles, you know? That said, I agree on the general reading, if we don't have any real life events that negatively affect the price, it looks like the next few months are going to be bullish, although a repeat of the regularity of past cycles would push the price up to $50K or $50-something at best before halving.

From all the research I did last time DTCC listed the blackrock ticker, it doesn’t mean it’s a guaranteed listing. Some guy who claims to worked on Wall Street for years says it doesn’t mean it will necessarily get listed, doesn’t mean it’ll not get listed however.

Today we got a new high and it was hours after they listed the ticker on DTCC which provides more proof that there is some other reason why Bitcoin and other cryptos are pumping. Especially Solana which had a 20% day and it’s higher than it was during the Ftx crash.

I have sometime to say about this ETF thing, if you believe that the market is recovery because of ETF rumour you don't know what you are saying, I've been hearing about ETF since 2016 and they never approved it, yet Bitcoin made a new ATH in 2017.

If none ETF get approved Bitcoin will still do it's thing, a new all time high will still happen, avoid digesting their lies, they are using the ETF to trap people, now many people will believe that Bitcoin will reach 250,000, as possible this is, it's also impossible, because no one knows what its going to be the next top for Bitcoin.

Right now its better to plan how you will take your profit, many people will be trapped holding their Bitcoin with the hope that a new all time high will come and they will ride down with the dump again, the media and news is lying to all of you, I hope you get smart.

I agree with you that bitcoin doesn't need an ETF to grow and reach a new ATH, but I believe what's happening is related to the ETF news.  Bitcoin is also a financial market and it is also affected by positive and negative news both macro and micro.  Bitcoin has never been able to dump itself or grow on its own without accompanying news.  ETFs are no longer strange to bitcoin investors, but have you ever seen news about ETF approvals as noisy as they are today?  no, that has never happened before. 
Bitcoin could even increase in price due to news from Elon and Tesla in 2021, and the ETF news is many times bigger, there is no reason to say it does not affect bitcoin.

I did not have a good knowledge of previous ETF proposals, but your comment made me search for them, and there have been many proposals since now, and the first one was in 2013. You are right, this time the idea came to realization and got into the hype, which will attract the investors when they got approved, but till then they were manipulating news channels and saying things in favor of BTC to manipulate its price artificially. Like they did, the fake news on Cointelegraph, the fake listing, and then the delisting of BTC Ticker on the DTCC website These are all tricks.

But I am glad they are considering ETFs now and have not rejected it abruptly. I think that's because back then there was not so much exposure of BTC to investors and there was less hype of BTC too, but now the exposure to investors has increased, so maybe that's because they are considering it now. And back then, there were fewer tools, fewer exchanges, fewer trusted sites, etc. But now they have tools and sites too, but yeah, new threats are also there.

Something is always cooking behind the scenes. For now, we should really focus on accumulating BTC as much as we can, but for what? The purpose should be in mind too. Some people are new in the crypto field, and they become so enthusiastic about BTC that they start to accumulate it abruptly without having a plan, but those money makers (whales and big investors) book a profit occasionally and take entry again.

Those who still do not believe that this market is not manipulated are quite naive and stubborn. Any financial market can be manipulated, and manipulation is greater in a small, unmanaged, and unregulated market. Bitcoin is such a market, small, unregulated, and manipulation is happening every day, not just ETF-related news.

But I agree with you, no matter what is happening in the market, our job is to focus on accumulating as much bitcoin as possible. Because sooner or later the bull season will still come even without ETFs.

You are right, traditional investors thought of it as some computer shit or program (Phishing one) that can not make their money but I wondered what must have changed their point of view now. I mean, as far as I know, there is no current development at the technical level amid the fact that the US is giving importance to BTC but trying hard to stop people from using its decentralized feature. That's why they are coming up with policies to force the usage (investment) of BTC by centralized means (ETFs, CEXs etc.)

Your point might be used to explain why these ETFs were not accepted back in time because there was less exposure of BTC to huge investors.

Actually, this Invesco company is so small in compared to the Black Rock, to understand it, compare their market cap with each other. M.cap of BR is 95.20 billion USD and M.cap of Invesco is 6.07 billion USD. Besides that, all eyes are on Black Rock while I don't think you would have heard the name of Invesco before in the case of BTC ETF proposals. This might be your first time. Hype creates with big factors and this one is small so, that's why we are no seeing such big impact as we have seen the first time.

Symbolically, DTCC is ready if ETFs will soon be legalized and passed. Although there are still two possibilities, namely rejection or approval. In my opinion, ETF is also important for BTC, this will increase BTC's market cap, so many investors will enter BTC. However, what I regret is the manipulation that occurred yesterday regarding the ETF from Blackrock by Cointelegraph which made the market volatile and resulted in several investors or someone experiencing losses.