Solid X ETF

[manselr]

So after what we saw yesterday, it is clear that the ETFs are a good opportunity to make some BTC.

In March 30th, Solid X will try to get their ETF passed. We saw that Winklevoss ETF got rejected because SEC "can't regulate bitcoin". I fail to see how the outcome of this one will be any different. So I predict another dump.

The problem is, will people care about this one as much as the Winklevoss one? The Winklevoss are celebrities, I have no idea who "Solid X". There needs to be hype in order to make some cash from speculation.

Well, good luck and don't lose any BTCs, because in 10 years we will be rich so don't forget to hodl what you win.

[European Central Bank]

there will be absolutely zero market effect.

everyone's been paying attention to the winklevoss one. now we know nothing is gonna pass that chapter is closed. their application is already an sec pdf rejection that no one's gonna read.

[FiendCoin]

All the ETFs should get rejected for the same reason. It would be strange for the SEC to approve one now.

[york780]

Lets HYPE again! Maybe i make an another ETF aproval vs dissaproval pol ^^. On topic: we all know for 99% that SEC will deny it. So its better to forget about ETF Solid X

[cellard]

All the ETFs should get rejected for the same reason. It would be strange for the SEC to approve one now.

Well, the Solid X ETF introduces some changes, I think it is safer than the Winklevoss one so who knows.

Also, since the market already knows how bitcoin will react to an ETF disapproval, precisely because of that maybe there is no dump but

1) nothing happens
2) it actually pumps

No way to know.

[Lauda]

I can't find the proper links for this one. Could you provide some?

In March 30th, Solid X will try to get their ETF passed. We saw that Winklevoss ETF got rejected because SEC "can't regulate bitcoin". I fail to see how the outcome of this one will be any different. So I predict another dump.

Post the link to their application.

Well, the Solid X ETF introduces some changes, I think it is safer than the Winklevoss one so who knows.

Which changes?

[york780]

We must not hype it or we will see the same effect as yesterday. Yes good profit when you choose the right side on short term, but its realy damages bitcoin's trust and so we lose investors for the long run.

[European Central Bank]

one thing it has shown is that interest is intense in this type of thing. we might be seeing less permissioned versions springing up like gbtc or the swedish etn.

Well, the Solid X ETF introduces some changes, I think it is safer than the Winklevoss one so who knows.

Which changes?

they had a different insurance set up. but that does nothing to address the core reasons for the rejection.

[~Bitcoin~]

Thankfully market didn't remain dumped after ETF got declined yesterday and it is already recovering from that panic dump. Personally i don't think the pump we were seeing from last few weeks are not solely due to ETF hype so after someday price may start again to surge like before.

Talking about any other bitcoin ETF that will apply to get approved by SEC, i think answer from them will be same a BIG NO.

[travwill]

For SolidX, they will likely push back the decision, or decline it.  I'd expect them to delay it for the 2-3 times they can, up to like 180 days.

[FiendCoin]

For SolidX, they will likely push back the decision, or decline it.  I'd expect them to delay it for the 2-3 times they can, up to like 180 days.

There is no reason now to push back the decision. It should be outright rejected on regulation claims, just like COIN. The regulatory environment is not going to change this year. Who knows how long if ever, an ETF will be approved in the US. Maybe after a few other counties with more liberal policies towards regulation allows Bitcoin ETFs. I wouldn't expect much of a drop when other ETFs are rejected.

[HTML6]

They won't approve the ETF because bitcoins can't be regulated so people need to get over the idea of having an ETF that's based on bitcoin prices. Maybe if part of someone's company was invested in bitcoins there would be a chance of that happening but basing a fund solely off of the price of bitcoins can't happen.

[hase0278]

Even if solid x ETF will be approved or not I doubt if it will really be significant to bitcoin's price since the last ETF that happened proved that it is not significant in price if ETF is rejected there might be a dump but it will not be that big. I won't hope that Solid X ETF will be approved though there is the high chance of it being rejected too but I want to see what will happen if it is approved.

[york780]

3 days to go guys! Maybe we will see one more bulltrap that day like Winklevoss ETF.  I am still thinking that the huge drop was caused because winklevoss where dumping their stash when they heart the news. Anyone knows how much bitcoin the SolidX fund holds?

[HabBear]

So I predict another dump.

Guy, there wasn't a dump after the first ETF rejection...in fact the price of Bitcoin surged after the news!

The recent drop seems to be more timed with increased hard fork speculation. The government deciding not to intervene or participate in bitcoin has never been a bad thing for bitcoin.

[gentlemand]

Guy, there wasn't a dump after the first ETF rejection...in fact the price of Bitcoin surged after the news!

There most certainly was. It was very rapid but also very extreme as well. It was all over with great rapidity though.

[DeathAngel]

I don't think there's any point getting our hopes up over this ETF gaining approval. After the twins failed attempt I doubt this one will see a similar speculative price rise.

[d5000]

Trying to find some links for this ETF:

Original Filing with the SEC

Filing detail

NYSE Arca Rulemaking (here the final approval/disapproval order should be published, see under "SR-NYSEArca-2016-101")

There seems to have been a recent amendment in early March:

Amendment No. 3

Supplemental data

Maybe related, but probably is another asset (Edit: that is the Grayscale ETF)

"Bitcoin Investment Trust"

[maku]

It is useless to think that after Winklevoss Coin ETF was rejected we will have another ETF accepted.
SEC stated that they are not approving COIN because there is risk inherently linked to bitcoin features.
Mainly fact that bitcoin can't be regulated and controlled - so ETF very little control over the asset itself.
To be accpted by SEC, ETF needs to come up with some solution to minimize risks of investors to suffer extreme losses first.

[richardsNY]

It is useless to think that after Winklevoss Coin ETF was rejected we will have another ETF accepted.
SEC stated that they are not approving COIN because there is risk inherently linked to bitcoin features.
Mainly fact that bitcoin can't be regulated and controlled - so ETF very little control over the asset itself.
To be accpted by SEC, ETF needs to come up with some solution to minimize risks of investors to suffer extreme losses first.

Bitcoin is and will always remain a free market where any entities with deep pockets can potentially move the market in their preferred direction. If you take their reason for disapproval for granted the last time, then they basically will never approve any sort of Bitcoin related ETF. However, the SolidX ETF has an insurance policy over their holdings till an amount of $125 million. It raises the chances slightly, but I don't think it will do much for the SEC.