Bitcoin Forum

"Last month, the Winklevoss Bitcoin Trust filed its latest update that stated the ETF would trade on the NASDAQ exchange with a ticker symbol that has yet to be determined."

Read more: http://www.nasdaq.com/article/bitcoin-etf-inching-closer-to-reality-cm358963#ixzz33iWPO4jO

This is expected to launch before the end of the year. Hold on to your hats.

This ETF has been inching closer and closer every month for more than a year. I have a feeling that it'll take a few more years before it finally becomes a reality.

This part is good 'news':
"While many experts are skeptical about the liquidity and transactional aspects of a bitcoin ETF, a successful roll-out of this concept may ultimately provide another level of confidence for investors that are drawn to this theme.

It may also pave the way for new digital currencies to be accepted into the mainstream."


I am not certain it will be delayed much longer, with Bitcoin gaining so much momentum. Some people in the establishment clearly want BTC to succeed. (For example) Did you see the Bitcoin logo on the front of USA Today ~ a month ago. It was the USA Today logo with a big Bitcoin inside. That is one example of "strong support" from elements of the establishment.
Almost a bit scary if you think about it...

lol.. listing a new ETF in the NASDAQ is no small jobs. Tons of paperwork needs to be completed, and a lot of legal formalities are there. It sometimes take more than 12 months for a normal equity-based ETF to list itself in NASDAQ.  ;D

I never saw that! It was in celebration of the FEC decision to allow campaign donations in BTC.

http://www.coinspeaker.com/wp-content/uploads/2014/05/usa-today-bitcoin-logo-to-celebrate-fec-decision-01.jpg

"Winklevoss chief legal counsel Kathleen H. Moriarty told CoinDesk that the ETF should be approved by the end of the year."
http://www.coindesk.com/secondmarket-will-open-private-bitcoin-fund-investors/

It's been 11 months. If it "sometimes takes more than 12 months for a normal equity-based ETF to list itself in NASDAQ," than this shouldn't be too far off now should it?  ;)

I saw it on a news rack and had to look twice, since it was so unexpected.
Seeing Bitcoin go mainstream is exciting; Having the elite media "promoting" Bitcoin feels odd, but why ask too many questions when the party is so much fun?  :D

Normally it takes anywhere from 6 to 18 months. So the Winkelwii Bitcoin ETF is definitely not far off. We should also take in to account the additonal complexities associated with dealing with the Bitcoins.

I never could have imagined years ago that we would be seeing the bitcoin logo on the front page of USA Today like that. It's amazing, really.

True. I would like to see this thing launch either right before the next big rally (which is unlikely) or right after the capitulation from that rally (likely). Just think if this thing launches right near the tail end of a mega rally pumping prices upwards of 10k only to crash shortly after. It could be catastrophic to a large number of people's finances and public perception of bitcoin, and I assume that the Winklevii and the SEC would take action to avoid such.

I am cautiously optimistic about this. It will add to the speculative nature of course but it could also get a lot of wealthy people to take a longer look at bit coin. Once they realize it protects them from inflationary fiat it is a no brainer to get involved.

Unfortunately, not much can be done to prevent any such thing from occurring. Let's just hope that the correction will be a bit milder, and in the long term the investors will be in the green.  ;D

How would a large number of people's finances be affected if the price of a bitcoin goes up?  Correct me if I'm wrong, but all of the "crashes" have not been to below where the price was before the rally... 

To my knowledge, no one has sold any bitcoins for less than $50 for over a year now...

The crashes seem to be more like corrections. On average bitcoin has definitely gained a lot. People just get carried away and buy at the same time and then freak out and sell most of what they bought off altogether at once.

yep, in my view they are fast.

nice to see that news on nasdaq.com  :)

There will always be losers and gainers for every market move. For my part, I know a few people who bought Bitcoins at $1,100 per coin. Some of them offloaded their stash at $400 per coin. Some others are still holding.  ;D

They must be crying every day they check the price charts now. And it doesn't look like it's going to be slowing down.

Maybe they'll buy in at $1100 again?

Or maybe they'll wait until this bitcoin ETF gets listed on NASDAQ. By then it might be over $2000 :P

There is no way Bitcoin can be stoped.
When I came across this I was sure of that :)
even if country's force the its local banks.
There will always be jurisdictions that will fill the gap.

Being a bank is owning A license!
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So now you know once and for all that al theese AML and KYC laws are only for the little men.
and that this can and will never change unless we start using a decentralized system as Bitcoin.

I'm certain the fund managers will understand the timing of this market and can make an effort to not launch when prices is doubling every 14 days or so. They should not launch in a place that allows investors to panic buy.


So, I wasn't very clear, but the point is to not launch while a mega- rally is peaking. That would mean all of these eager new investors buy in at the highest prices. And yes, if they continue to hold onto to their ETF, they will be fine. But it's bad publicity for an ETF to lose 50% or more of its value in the first months, regardless if it is likely to regain that value and then gain another 1000% in the coming year.

and after the rally the price "crashes to 2143,- USD"  ;)

2143 USD will be the sale price!   :D

I am trying to convince them, but they are not listening to me. They are saying that the moment Bitcoin crosses $1,100, they will sell all their coins for fiat using any of the exchanges.  ;D

So another round of cheap bit coin? I like it.

One certain cure for bad trading is to never close out a loss, but that isn't always realistic.
Absolutely NEVER reverse your position twice, at a loss both times.
^^^That way you avoid a repeated pattern of buying high and selling low.