Bitcoin Forum

I think Bitcoin ETF sits on a 50/50 chance to be approved yet but there's still a glimpse of light shining as one of the Commissioner Hester Peirce in favor of it,  in a sense that she likes to open on US an nnovation approach that could contribute to greater development.

The new member of the commissioner dissent the decision of rejection of Winklevoss Bitcoin ETF with a 3 to 1 vote, stating that the rejection isnt fair and over jurisdiction since they only looked on the possible outcome that price will be manipulated.

Quoted from Her interviewed “I think we have an important role to play telling the United States and the world that our capital markets are open to innovation,” said Peirce. “And that’s what sort of drove my dissent last week and what really drove me to come back to the agency as a commissioner. ”

There's no timeline when the voting will commence and not sure if its on the middle of 2018 maybe early 2019.

Full report can be seen here for your info.

source:
https://bitcoinist.com/no-reason-bitcoin-etf-sec-commissioner/

Wow! That is a really good news. Most of the people thought that ETF will not be approved by SEC. But this small news gives us a light of hope. SEC is giving us green light though it is just a news, it will influence market value.

I think not only a sec commissioner in future SEC will definitely approve the crypto currency. I think it’s a metter of time. So everybody keep patience.

The tone of SEC is changing recently. With increased public demand and continuous persuasion by the organizations that are submitting Bitcoin ETF proposal, it is very much likely that SEC will be forced to accept it if someone comes up with framework that is not prone to manipulation, fraudulent activities and scams.

SEC may likely approved bitcoin but it may not be this year....am 100% sure that security exchange commission will sure approve bitcoin....bitcoin is everywhere and knowledge toward bitcoin is increasing day by day....view of bitcoin last year was different from this year....

That's a great news. I think if SEC gives approval to BTC ETF it will be a booster for Bitcoin. I hope things are going to change very soon.

It would be huge to see an approval for a bitcoin ETF. The price would react very, very bullishly to the news. We’d probably see a spike to north of $50,000 per bitcoin.

I think the ETF will be approved this year. But it will be very difficult to predict how the effect will be.

I personally hope that bitcoin will be approved and we will see a lot of new wave of investors' inflow into the crypto currency

i don't know what to hope for anymore. for ETF to be approved or for it to be rejected! i just hope that it comes and goes as fast as possible because i am sick and tired of everyone constantly looking to SEC to see what they do in the end so that they can decide whether to buy bitcoin or sell it!

they seem to have forgotten what bitcoin, the decentralized currency, was build for.

It's quite surprising that one of the SEC commissioners has the guts to go against what the majority thinks. It just proves that someone in the government sector believes that there is something good in pushing ETFs for bitcoin, aside from the price increases and speculative gains that the public could acquire. By agreeing to the ETF, it exposes bitcoin to the public and urges merchants and consumers alike to build a working economy and to break the exclusivity of bitcoin from being just a speculative asset into a fully-functioning currency. I commend whoever this commissioner is for her bravery to voice out her opinion on the matter.

3 to 1 is bad and not something to get excited about. The old boys, still have a good grip on the power and they are just the puppets, because the strings are pulled, much higher up in the political circles. Do not think for one moment that a decision like this is done, without consultation from the Puppet masters.

The best thing now, is for people to forget about Bitcoin ETFs and to concentrate on things that are under our control. <Increasing adoption and awareness of this technology and to make it more user-friendly and easily accessible to the general public>

Let the SEC play their political games, we will concentrate on the people who put them in power.  ;)

I do not care much about this myself. I believe bitcoin whether the SEC accept ETF or not? I believe bitcoin will not stop, continues to grow. But this seems to be a very good signal right now as the market is gloomy. 1 good news launched to the green back market.

This is great. I also came across this Reddit thread (https://www.reddit.com/r/CryptoCurrency/comments/90pcjz/show_your_support_for_the_bitcoin_etf/) that's encouraging users to email the SEC with supportive comments about the Bitcoin ETF proposal. There are details about how to do that, along with a template email as well, in case anyone is interested in sending this email without the need to take out too much time. Hope this is helpful.  

From the current economic environment and political environment, the US Securities and Exchange Commission approved the ETF!
The listing of Bitcoin ETFs is only a matter of time, which can lower the threshold of Bitcoin transactions, thus flooding the capital and accelerating the development of the digital currency industry!

If ETF is approved, Bitcoin will do a lot better than before. Bitcoin will be much safer than before. Something good will do for bitcoin. Bitcoin security will increase and people's intensity will increase here. I think they will increase the investment.

I'd like to note that something of the sort has already been available to Sweden for quite some time and it barely moved the market as far as I know:

https://www.cnbc.com/2018/01/17/sec-frets-over-bitcoin-etfs-but-swedes-figured-it-out-years-ago.html

There's also this EU ETF Firm moving into crypto products, which again, barely moved the market:

https://www.coindesk.com/the-eus-biggest-etf-firm-expands-into-crypto-products/

I know US-based ETFs are going to be a much bigger deal than either, and would undoubtedly make at least a small splash in the market  (the recent $8k surge could be attributed to ETF FOMO after all), but $50k just for one approval may be a little far-fetched. I could see an ETF approval maybe igniting a spark, but I feel like it would be a slow process.

This is really great news. This news is the ray of hope for the market of crypto currency. I think that Etf will solve its existing problems and the sec will be in favor of this slowly. I am very much hopeful at the approval of this project.

It is not what I imagine to be good, Even though there are a one commissioner that is not against bitcoin, It is just one in favor of bitcoin against 3 more, That means it is over for bitcoin to be approved by SEC, Well In my opinion even with or without this approval I really think bitcoin will manage especially it grown this far without any approval to the public and by SEC, or the government as well, We can definitely see a bull run again without their help.

Though many people felt that the ETF decision would not favor bitcoin nevertheless the are still lot of positive news coming day on day but if ever SEC would favor the Bitcoin ETF then expect price of bitcoin will surge without limit.

Its really good to have a positive note of choice and I wish the team member would correct their wrong in the coming ETFs that is about to happen. While we are happy about this, there is a germane point that is raised here which is on the issue of price manipulation that other members of the committee are using as an excuse to have a dissenting voice. If ETFs applicants are not going to address this issue even as market participants are always quick to blame the whales in times of increase in price and dumping in times of drop in price, the decision of the committee might still remain the same because they would not want to soil their names by setting a bad precedent that if subjected to review, could tarnish the reputations that they have built since the beginning of their career.

This is more of a call to all stakeholders media, service providers, licencors and traders to start with the launching of campaigns to correct the impression of price manipulation because for this news to come out is showing there is a weakness to be worked upon in which if successful, everyone will be better for it eventually.

Bitcoin is passing a bad time. The price is going down for last few days which is really disappointing. I think this news can cause an increment to the price of BTC.

I think it's going to be great. Many people are waiting for the announcement of SEC about the ETF. It looks like it will attract more investors in the crypto market.

With increased public demand and continuous persuasion by the organizations that are submitting bitcoin ETF proposal, It is very much likely that SEC will be forced to accept it if someone comes up with framework that is not prone to manipulation, fraudulent activities.

This is one of the hopes that bull market for bitcoin will be easily speculated as the etf approval will be the basis that cryptocurrency is not really that bad instead it is so helpful. It will be ideal to incorporate the system of cryptocurrency to the development of the country.

I hope they decide in favor of etf approval.

That can bring the new bull run which will pass 100k$ per bitcoin.

I'm still hopeful. There's a lot of public support for the Bitcoin ETF.
This news article especially gives hope: https://www.investopedia.com/news/reasons-why-bitcoin-etf-may-arrive-soon/

I don't like that bitcoin has become an asset that is regulated by someone's opinion that is based on money. this is typical for the stock market, and now unfortunately for bitcoin. therefore, I think that it is not necessary to look at it, you just need to invest in bitcoin and study the technology

Even this tiny glimmer of hope will be enough to keep the investors' panic at bay. The ETF has somehow influenced the demand of the BTC, and if there is a 50/50 chance of it being approved, that will be reason enough to keep BTC steady and not to fall further.

you got it backwards.
ETF and the fear of its rejection is the reason why price is kept down. as a matter of fact without ETF there wouldn't have been any panic in the market and price could have gone up already in the proper manner it always does.
the fall you see these days is exactly because of ETF.