***BREAKING *** Bitcoin ETF is approved

[franky1]

"fund does not invest directly in bitcoin"

..
translation..
its a FIAT ETF that gambles but never holds an asset that it pretends to be involved in its title

its in short like a gambling website offering 'shares' in fiat, of other peoples gambling slips.. based on horse racing without the website owning any horses, or race courses


a proper bitcoin ETF collateral trust has not yet been approved

[so98nn]

Finally, after a long time of repeating and waiting SEC finally approved.

Wait what? The SEC haven't approved lol. It literally says in the paper: "have been approved by the Exchange for listing and registration upon official notice of issuance."

It just says that they had the go signal from Nasdaq for listing, but they'll still be waiting for the decision from the SEC.

True that. However looking at the involvement of huge number of investors after this news broke out, SEC might wanna think twice before they say no to the  approval. The SEC will see enormous communication after this because any listing company would want to showcase the instrument performance and as far as I read after ETF news bitcoin got a billion dollar trade volume in just 20 minutes of period. Also the drive continues for it. I assume this is the missing train guys who would be in que to buy further. Not sure how far this will go but with the sturdy news like this, bitcoin has got whole new milestone ahead. I imagine many billionaires and millionaires would start supporting bitcoin henceforth because they seeing a whole new era for it. Sooner or later SEC will jump in so that they can regularize it and keep an eye on who invests with the intention of laundering. lolz.

[avikz]

If I am not mistaken, this particular ETF will be using CME's bitcoin derivative as an underlying asset to calculate the price of the EFT. If that is true, no real value will be added in bitcoin market because no physical bitcoins will be transacted during the process and also no money will be pumped into the bitcoin market. This ETF is essentially a bug fraud of the banking system where they create money out of thin air.

Such ETFs can only bring positively into the market but not money!

[imran101]

We have been waiting for this good news for a long time and finally, our long wait is over. After a long wait, it was approved. Maybe that's why the price of Bitcoin is rising so fast. Now many new investors will invest in this good news. I think this approval will go a long way in moving Bitcoin forward.

[franky1]

If I am not mistaken, this particular ETF will be using CME's bitcoin derivative as an underlying asset to calculate the price of the EFT. If that is true, no real value will be added in bitcoin market because no physical bitcoins will be transacted during the process and also no money will be pumped into the bitcoin market. This ETF is essentially a bug fraud of the banking system where they create money out of thin air.

Such ETFs can only bring positively into the market but not money!

essentially..
person A in a different market/company. is buying futures contracts where they want to buy bitcoin at X price in Y weeks. whereby at week Y deadline.. that coin for them 0.2 seconds are owned by person A. and is then sold. leaving person A with a profit or loss depending on what the price is then.
^ thats futures

the ETF is creating seperate contracts and letting person B buy these.. which the B contract pays person A at week Y. meaning person A never loses any fiat because the fiat risk is shifted to person B

person B never even gets the bitcoin for 0.2 seconds. he is just hedging, gambling person A's fiat

[samuraijin]

We have been waiting for this good news for a long time and finally, our long wait is over. After a long wait, it was approved. Maybe that's why the price of Bitcoin is rising so fast. Now many new investors will invest in this good news. I think this approval will go a long way in moving Bitcoin forward.

lucky are those who still believe in the future of bitcoin and those who still hold on to it today, all the hard struggle of almost 10 years bitcoin exists and this is not the culmination of all goals, but i think there will be more surprises after this