Bitcoin ETF by 2nd quarter of 2021?

[Globb0]

We will see if you are right,


I have lost confidence with every fail and rejection.


There is always promising noises then a pull back at the last second.

Just like all the other market manipulation.

[bbc.reporter]

@ Globb0. I might be wrong on the timeline, however, I am quite certain there will be more than 2 Bitcoin ETF to be offered for mainstream investors who want some exposure on bitcoin.

In any case, this news hehe.



As 2020 draws to a close, one of the prior proponents for an exchange-traded fund (ETF) based on bitcoin is trying again: VanEck has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a “VanEck Bitcoin Trust.”

An ETF is seen as advantageous because it trades on the stock market in much the same way as shares in popular companies such as Apple and Microsoft.

VanEck has previously proposed ETFs, withdrawing its most recent application in September 2019. At the time the company said it remained committed to an exchange-traded product.

Source https://www.coindesk.com/vaneck-proposes-bitcoin-etf-again

[magneto]

I'm still a bit skeptical as to how much of a boost an ETF approval can realistically give to bitcoin demand.

Sure, it will give mainstream investors another opportunity at investing in BTC. But I feel like that there are already a bunch of services that make the buying process very simple for retail investors, and institutional investors would probably want to retain custody over their own holdings anyway.

But yeah, if ETFs were to be approved at all, it would likely be in the next few years whilst the SEC is chaired by a pro-bitcoiner.

[ultrloa]

Oh common this is another fud spread which can create panic to the people if ETF approval will get failed again and I'm so sick to read about this and doesn't have hope about this for now so maybe people should be prepared and need to know about how the manipulator used this as an issue for the price to get dump, so hopefully we will not see any downwards when it get rejected again.

[Lucius]

Oh common this is another fud spread which can create panic to the people if ETF approval will get failed again...

I don't see the point in this kind of news being understood in any way as FUD (Fear, uncertainty, and doubt) because it is a legitimate request from a legitimate company to the SEC. If the SEC accepts the request, the market would get another very powerful instrument for large investors, and if that does not happen, there will be no panic - the price that is currently formed does not depend on the outcome of this request.

I think the Bitcoin ETF is inevitable, the only question is when the SEC will decide on it - and given the growing interest for BTC in the US, it may happen in the next 2 years.

[jubalix]

I don't buy it the ETF has been promised for years it always gets promised and never happens

[exstasie]

Everyone around here seems insanely pessimistic about an ETF approval. Makes me think one might finally get approved this time.

It's not 2017 anymore. Exchanges and derivative platforms have significantly tightened up compliance wise, fake volume is not nearly as rampant, regulators are constantly taking action, CME and Bakkt are steadily growing in volume and liquidity. This is exactly what Jay Clayton said needed to happen before an ETF could be approved.

Not to mention that Microstrategy, in terms of assets held, is turning itself into a de facto Bitcoin ETF. I suspect the SEC is feeling trolled by that and I wonder if it might make them more inclined to bring a real ETF to market.

[darewaller]

I have no reason to believe that the SEC will approve this proposal after rejecting it repeatedly in the past. Even if by some miracle they approve it, I don't think that it will be ready by the 2nd quarter of 2021. Because the entire reviewal process by the SEC takes around 8 months to get completed. And the point now is that VanEck hasn't made a formal application yet.

SEC doesn't want people to do things they are not aware of or not allowed and thats the key here. Crypto people got very scared after the XRP thing but the reality is that we are not really living any worse than we did before that, look at bitcoin for example its almost 35k, so its obvious that one thing doesn't reflect on the other things.

If any ETF happens, it is going to be in a way where SEC allows, and they will list bunch of requests, and if the company that does the ETF accepts the requests from SEC, there is no reason why there shouldn't be one. I mean there are exchanges that has been active for nearly half a decade in USA and nothing happened to them, why? Because they do whatever SEC asks them to do, simple as that. However if you make up an ETF in your mind and show that to SEC and say you want to start that, obviously its going to get shot down very easily.

[bbc.reporter]

Everyone around here seems insanely pessimistic about an ETF approval. Makes me think one might finally get approved this time.

It's not 2017 anymore. Exchanges and derivative platforms have significantly tightened up compliance wise, fake volume is not nearly as rampant, regulators are constantly taking action, CME and Bakkt are steadily growing in volume and liquidity. This is exactly what Jay Clayton said needed to happen before an ETF could be approved.

Not to mention that Microstrategy, in terms of assets held, is turning itself into a de facto Bitcoin ETF. I suspect the SEC is feeling trolled by that and I wonder if it might make them more inclined to bring a real ETF to market.

Agreed. Also, Microstrategy’s direct exposure to bitcoin clearly is making it to the price of the company’s stock. The stock has pumped from $135 from August to $388.55 to end the year.

I speculate that other smaller companies might copy the same tactic to bolster their stock price also.

[bbc.reporter]

The first North American Bitcoin ETF has been approved! However, it has been approved by and will be issued in Canada hehehe. This might prompt the United States regulators to begin approving ETFs in their jurisdiction also, I reckon.

I might be pessimistic about Apple investing in bitcoin, however, I speculate that Apple might invest in a bitcoin ETF.



The first publicly traded bitcoin exchange-traded fund (ETF) in North America has been given the go-ahead by Canada’s financial regulator.

According to a decision document on Thursday, the receipt of approval from the Ontario Securities Commission (OSC) was filed under a Multilateral Instrument passport system in multiple Canadian jurisdictions.

Source https://www.coindesk.com/first-north-american-bitcoin-etf-approved-by-canadian-securities-regulator

[bbc.reporter]

Canada approved another ETF and Brazil approved their first. We are in the 2nd quarter, however, it remains we do not have an ETF approved by the US SEC. I reckon with bitcoin’s pumps being weaker, the holders might begin to become more desperate for an ETF approval. The market needs more institional buyers to push the price to $100k.



Canadian digital asset manager 3iQ Corp announced Thursday it has inked an agreement with investment firm CoinShares to launch a new bitcoin (BTC, +0.47%) exchange-traded fund (ETF).

In an announcement, 3iQ Corp said CoinShares has partnered with the firm to launch the 3iQ CoinShares Bitcoin ETF. Trading under the ticker BTCQ, the vehicle for investing in bitcoin without holding the digital asset itself will be listed on the Toronto Stock Exchange (TSX) in early April, pending regulatory approval.  

Canada has taken the lead in North America in approving three bitcoin ETFs for crypto-curious investors. The Securities and Exchange Commission has been reticent to give the green light to a similar vehicle in the U.S., having shot down dozens of proposals in recent years. Last month, Brazil got into the act with the approval of its first bitcoin ETF.

Source https://www.coindesk.com/coinshares-partners-with-canadas-3iq-to-launch-new-bitcoin-etf-on-tsx

[bbc.reporter]

News update.

Prediction wrong and with only 13 days more before the 2nd quarter ends. It also appears that the anticipation for the SEC’s decision might be the cause of the latest pump and the disappointing news the cause of this latest dump. An approval would have sent bitcoin back on the way to all time high, I reckon.



In a Wednesday filing, the regulator once again delayed passing judgement on the VanEck Bitcoin Trust.

“In rejecting numerous bitcoin ETF applications, the SEC has continually stated concerns over fraud and manipulation in the underlying bitcoin spot market,” Nathan Geraci, president of the ETF Store, told CoinDesk in a recent interview. “The SEC is worried they don’t have proper surveillance over crypto exchanges and, therefore, can’t ensure adequate investor protections are in place.”

Source https://www.coindesk.com/sec-again-delays-vaneck-bitcoin-etf-decision

[bbc.reporter]

I also disagree that the ETF hype is dead. It will come back again, all of you wait.

It appears everyone also thought I was an antagonizer when I was speculating bullishly on an ETF for bitcoin last year hehehe. I might have made a mistake on the timeline, however, the ETF hype might has clearly returned, very much not similar to much of everyone’s sentiment when the thread was created.

Similar to the bull markets before this, bitcoin bear market begins on December or January. The schedules of ETF approval go up to December 2021. I assume the ETF hype will go up to those dates also.