[2019-02-13]Bitcoin ETF has a Hope as SEC is Open for Innovation

[Vladdirescu87]

The Commissioner of the US Security and Exchange Commission (SEC), Hester Peirce, aims at opening the SEC to innovation, invention and entrepreneurship. Of late, the leaked interviews of Hester gave the crypto industry hope for Bitcoin (BTC) exchange-traded fund (ETF) approval. Hester, also known as the Crypto Mom, calls for an innovative and improved regulatory framework which is more malleable to the cryptocurrency field.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-etf-hope/

[pixie85]

Hester was a supporter of Bitcoin for many months and couldn't persuade the rest of the commission. Will she be able to do it now? I really don't think so.
I know the ETF will at some point have to be approved but I also know the SEC consists of ordinary people who also want to make money. When they decide it's the right time they will tell their family members to buy bitcoin and approve ETF to allow them to profit on it. If they aren't approving it now it's not for the good of the people but for their own benefit. They want to buy as cheap as possible.

[rdbase]

The SEC has tried to shutdown anything to do with bitcoin and "innovative" projects because they are just like wall street and want to keep the system in its old way and so under their control where bitcoin is not and never will be.
So why all the sudden have they changed their stance on it?
I do not believe in anything they are trying to convey to the public for being accepting in anything not centralized like their ancient financial system.

[elda34b]

So why all the sudden have they changed their stance on it?

Because it's profitable for them?
Who knows, it doesn't really matter if ETF doesn't happen, that's just tools for speculators not adoption. Without ETF we can use Bitcoin anyway.

[rodel caling]

So why all the sudden have they changed their stance on it?

Because it's profitable for them?
Who knows, it doesn't really matter if ETF doesn't happen, that's just tools for speculators not adoption. Without ETF we can use Bitcoin anyway.

I agree with you mate that is truly correct as we see without ETF bitcoin is still useful and nobody can destroy their strongest stand as currency. People well know the importance of bitcoin.

[livingfree]

So why all the sudden have they changed their stance on it?

Because it's profitable for them?
Who knows, it doesn't really matter if ETF doesn't happen, that's just tools for speculators not adoption.

Probably that's the main reason why they are changing their stance with the proposed Bitcoin ETF.

Without ETF we can use Bitcoin anyway.

Very true, with or without ETF we're free to use bitcoin but for such purposes of seeing the price at a higher position, they want it to be approved. But I'm on the middle side of it, if it gets the approval I'm happy, if not then it's still fine.

[Kakmakr]

It would be stupid if the regulators in the SEC cannot see the huge potential for innovation in Crypto currency related financial instruments in this industry. Yes, they have a obligation to protect investors, but they should also be open-minded enough to see that Crypto currency are gaining momentum and that Blockchain based technologies are taking off like crazy now.

Why would you want to ignore the best performing Currency & Commodity for 3 years in a row? 

[1Referee]

Why would you want to ignore the best performing Currency & Commodity for 3 years in a row? 

An ETF is a big deal. The SEC is trying to protect its market, and rightfully so.

If a Bitcoin ETF is going to be approved, the SEC wants to be sure that it can prosecute the bad actors in case there is manipulation or whatever else of similar nature going on. It's a near $4 trillion market Bitcoin is about to tap into, so no wonder the SEC is trying to make sure every known scenario of manipulation and custody is taken care of.

It's known to most of us how shady Asian exchanges are when it comes to artificially inflating their volumes and whatnot. The SEC knows that too, and they are trying to figure out how to work around it effectively.

[BitHodler]

It's known to most of us how shady Asian exchanges are when it comes to artificially inflating their volumes and whatnot. The SEC knows that too, and they are trying to figure out how to work around it effectively.

The most effective way to work around this manipulation is to continue rejecting them, or get rid of the backed ETFs, and stick to cash settled ones that at the same time help avoid inflating the price during the next mania.

I'm skeptical for sure, but it's not that we have seen anything indicating otherwise. If Bakkt can't get the regulatory approval to launch, which is a possibility, it's confirming my thoughts about how regulators don't want any of this.

I'll give it a couple of months to see where it goes (mainly due to the government shutdown), but there is no reason to believe that just because it's I.C.E behind Bakkt, that it's guaranteed to be approved.