Winklevoss bitcoin etf coming soon...maybe by oct 12

[Jcastle]

SEC said it would make a decision regarding winklevoss bitcoin etf by Oct 12....Solidx also has an etf in the works and it has insurance...if either of these is approved ....bitcoin price will skyrocket as new institutional money on the sidelines decides to get in on the bitcoin game.

August 23, 2016.
On June 30, 2016, Bats BZX Exchange, Inc. (“BZX”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) [1] and Rule 19b-4 thereunder,[2] a proposed rule change to list and trade Winklevoss Bitcoin Shares issued by the Winklevoss Bitcoin Trust under BZX Rule 14.11(e)(4). The proposed rule change was published for comment in the Federal Register on July 14, 2016.[3] The Commission has received five comment letters on the proposed rule change.[4]

Section 19(b)(2) of the Act [5] provides that, within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The Commission is extending this 45-day time period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change.

Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,[6] Start Printed Page 59257designates October 12, 2016, as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR-BatsBZX-2016-30).

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[RyNinDaCleM]

It's been "coming soon" for 2+ years now 
Just like BIT, it will be irrelevant for a long time. Maybe one day it will gain serious interest outside of people on this forum thinking it is their saving grace

[Jcastle]

Ok....whatever u say boss..
U sound like one of those guys who said bitcoin would never go to $1000 when it was trading @$12 .....hehe

[The Sceptical Chymist]

So this breaking news is basically 'Let's get ready to get ready!'.

I say big deal.  I don't see a big effect on bitcoin because of this,  but I will admit I could be wrong.  But this is a way of betting on bitcoin with leverage, without actually owning bitcoin.  Isn't this kinda what most bitcoiners are against?

[155UE]

It's been "coming soon" for 2+ years now 
Just like BIT, it will be irrelevant for a long time. Maybe one day it will gain serious interest outside of people on this forum thinking it is their saving grace

I know I have been waiting this long to get something solid in the works for this.

[European Central Bank]

nope.

the only decision pending is the one about the rule change for the bats exchange that opens the door to the application. it's got nothing to do with the etf itself. if that rule change is approved then the etf starts to be considered and there's no time frame for that at all.

[LFC_Bitcoin]

I never take any notice of these dates, they're always delayed. This supposed ETF has been in the pipeline for years, I'm not sure if they'll ever get approval.

[Snorek]

Current situation seems awfully similar to hype before previous project of Winklevoss - Gemini was announced.
People were saying back then - after Geminin will go live it will dominate market and price of BTC will skyrocket for sure.
And we all know what happened. Gemini is online and I personally don't know anyone who used it. Also it had zero impact on bitcoin price.

[talks_cheep]

Only if Chinese are allowed to get in on the ETF, which is not possible under current SEC rules.

Or, if China decides to "free" bitcoins in China.

Winklevoss twin's ETF is "little too late" to the game.

[randy8777]

Current situation seems awfully similar to hype before previous project of Winklevoss - Gemini was announced.
People were saying back then - after Geminin will go live it will dominate market and price of BTC will skyrocket for sure.
And we all know what happened. Gemini is online and I personally don't know anyone who used it. Also it had zero impact on bitcoin price.

that's exactly the reason of why i don't take anything coming from the twins serious. they are loud mouths that have not proved a single thing at this point.

[DeathAngel]

Heard it all before, I'll believe it when I see it. This has been spoken about for a couple of years now.
No doubt the price would go up if their ETF was given approval but when/if it ever happens we don't know.

[Denker]

No no no.
I'm pretty sure the final decision will be made next year in february as SEC has the option to extend the whole case for another 200 days.
So nothing is coming soon buddy!!
And is worst case it will be rejected!
But sooner or later we will see an ETF getting approved.

[European Central Bank]

Gemini is online and I personally don't know anyone who used it. Also it had zero impact on bitcoin price.

people are too greedy for margin and too careless with their coins to use gemini. I think it's gonna take somewhere between 10-20 more goxings before it finally sinks into their thick skulls.

[mixan]

Only if Chinese are allowed to get in on the ETF, which is not possible under current SEC rules.

Or, if China decides to "free" bitcoins in China.

Winklevoss twin's ETF is "little too late" to the game.

Not if there are anymore Bitfinex type companies just waiting to happen.Then it could be a success story from these "missed opportunity" facebookers.

I personally don't have any experience with these ETF's or trading on the stock market but if it is backed by a reputable corporation unlike these failures of the exchange markets, then you can be sure that I will look into this golden opportunity further.

[Hunyadi]

People were saying back then - after Geminin will go live it will dominate market and price of BTC will skyrocket for sure.

No.

[panju1]

This has been in the pipeline for way too long.
People will believe it when it actually fructifies.

[1Referee]

When something interesting is launching, people directly think it will make the price sky rocket. With several great things being announced and released, the price hasn't done a single thing. Traders don't seem to care, and institutional traders seem to care even less.

[kwukduck]

Ok....whatever u say boss..
U sound like one of those guys who said bitcoin would never go to $1000 when it was trading @$12 .....hehe

It never really did... just because everyone was using one exchange that got messed up by a bot doesn't mean it was actually valued that high by people... Even people qho claim to have sold at the top (funny how many claimed that in the first place) were never able to get their fiat out. *POOF* aaaand it's gone. The real value people trading those ranges got was exactly or near $0.

[PseudoCode]

Ok....whatever u say boss..
U sound like one of those guys who said bitcoin would never go to $1000 when it was trading @$12 .....hehe

It never really did... just because everyone was using one exchange that got messed up by a bot doesn't mean it was actually valued that high by people... Even people qho claim to have sold at the top (funny how many claimed that in the first place) were never able to get their fiat out. *POOF* aaaand it's gone. The real value people trading those ranges got was exactly or near $0.

I beg to differ Kwuk.  I was here in 2011 (under another name), personally mined some at home with Radeon 5850 cards (noisy ! ), also bought and traded quite a lot in those heady days for various real world goods, helping to encourage adoption, *and I sold a *small percentage of them at just over $1000/coin, *and had *no trouble getting my $ out from the exchange I used (not Gox).   Sadly I cant tell you how much I made without giving away too much information, but suffice to say I'm quite happily smiling, and I still have most of my coins.

And Im not even that interested in just trying to make more fiat $ by playing bitcoin day-trading games (as many try to).  Im financially comfortable with my regular income..  I sold some mainly to prove to myself and a few skeptical others that I *could push some buttons and turn these digital token into cash if I wanted to.  They were convinced

I am *more interested in the potential of Bitcoin to introduce some "new blood" and new ideas to try into the worlds financial systems, and hopefully force some evolution into the merry-go-round of Fiat Currencies with their proven-to-fail-over-and-over-again history of doing the same thing and expecting a different result.   I see them as "shares" in a Global company that is doing things I like to see done for a better future, not just trading cards to try and squeeze out a quick fiat profit.

Just because you're a loser with no future vision who got sweaty palms and dumped his load (@$10 I heard ?) and have been spouting sour grapes while trying to make $ by shorting Bitcoin ever since, doesn't mean everyone is.

[RodeoX]

I have read that the SEC could stall this for up to 240 days!? That's including the stalling they have already done.