Solid X ETF

[york780]

We could still use a small pump, and i hope that this ETF will be a trigger for that

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[BitHodler]

We could still use a small pump, and i hope that this ETF will be a trigger for that

Legitimate demand is all we need. Haven't you noticed that the $1000 mark is somewhat of a stronghold mark?

It was just 2 days ago that the price dipped below $900 at the time the market was in full panic. See now, we're back where we belong. That's much better than pumps that don't last.

And no, this ETF isn't doing anything for the price as people simply don't have any confidence in this ETF when it comes to its approval. I think we have had enough hypes for now. Let's just build further on legitimate demand.

[york780]

We could still use a small pump, and i hope that this ETF will be a trigger for that

Legitimate demand is all we need. Haven't you noticed that the $1000 mark is somewhat of a stronghold mark?

It was just 2 days ago that the price dipped below $900 at the time the market was in full panic. See now, we're back where we belong. That's much better than pumps that don't last.

And no, this ETF isn't doing anything for the price as people simply don't have any confidence in this ETF when it comes to its approval. I think we have had enough hypes for now. Let's just build further on legitimate demand.

You are right. But i still think a little pump could help the price to break even further trough bearish resistance

[European Central Bank]

interesting how little attention is being paid to the gbtc application.

they can point to several years of successfully operating a kinda similar thing.

their application has been updated to take into account the china/surveillance thing too.

https://seekingalpha.com/filing/3474545#D157414DS1A_HTM_TX157414_19

still a hopeless cause of course.

[X-ray]

We could still use a small pump, and i hope that this ETF will be a trigger for that

Legitimate demand is all we need. Haven't you noticed that the $1000 mark is somewhat of a stronghold mark?

It was just 2 days ago that the price dipped below $900 at the time the market was in full panic. See now, we're back where we belong. That's much better than pumps that don't last.

And no, this ETF isn't doing anything for the price as people simply don't have any confidence in this ETF when it comes to its approval. I think we have had enough hypes for now. Let's just build further on legitimate demand.

You are right. But i still think a little pump could help the price to break even further trough bearish resistance

Nothing to do with the bitcoin ETF right now. Those are learning from the past experience.

The market is resistance with the ETF decision.
They're not wanna repeating the fake hype about the ETF.

ETF like a gambling.

[york780]

interesting how little attention is being paid to the gbtc application.

they can point to several years of successfully operating a kinda similar thing.

their application has been updated to take into account the china/surveillance thing too.

https://seekingalpha.com/filing/3474545#D157414DS1A_HTM_TX157414_19

still a hopeless cause of course.

Looks really promising. I really hope that some miracle happens and it will get an aproval. It looks a lot better than Winklevoss trust ETF.

[alyssa85]

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.

The Solid X ETF won't be rejected - the decision will be postponed.

(They had to give the Winklevoss ETF a final decision, because they'd deferred the decision for the maximum amount of time already - 3 years).

They will likely wait and see for a few years to find out whether the regulated exchanges (Gemini and Coinbase) gain volume. If the regulated exchanges do end up with the most volume in a year's time, then one of the two remaining ETF's will get approved. As long as the bulk of the volume is in non-US exchanges like Bitfinex and the Chinese exchanges, then the answer will be No.

[European Central Bank]

They will likely wait and see for a few years to find out whether the regulated exchanges (Gemini and Coinbase) gain volume. If the regulated exchanges do end up with the most volume in a year's time, then one of the two remaining ETF's will get approved. As long as the bulk of the volume is in non-US exchanges like Bitfinex and the Chinese exchanges, then the answer will be No.

i don't think they'll say yes until everywhere other than super official on ramps has been exterminated. volume can come back to the unregulated places if it wants to.

[ImHash]

They will likely wait and see for a few years to find out whether the regulated exchanges (Gemini and Coinbase) gain volume. If the regulated exchanges do end up with the most volume in a year's time, then one of the two remaining ETF's will get approved. As long as the bulk of the volume is in non-US exchanges like Bitfinex and the Chinese exchanges, then the answer will be No.

You mean like 16M volume? because there are only 1M bitcoins in circulation worldwide and moving around different exchanges and no exchange will ever gain enough volume for SEC to approve any ETF. bitcoin doesn't need any ETFs but rather stability in performance.

[Bitcoinreminder.com]

IT WAS DENIED

Order Disapproving a Proposed Rule Change, as Modified by Amendment No. 1, Relating to the Listing and Trading of Shares of the SolidX Bitcoin Trust under NYSE Arca Equities Rule 8.201

https://www.sec.gov/rules/sro/nysearca/2017/34-80319.pdf

[gentlemand]

IT WAS DENIED

Possibly the least shocking development in the history of Bitcoin. Cannae believe they didn't withdraw it themselves but I suppose it was worth a punt if they'd gotten stoned that day.

[Bitcoinreminder.com]

I thik the need a denial to sue someone...

[SaShiRaJaVu]

IT WAS DENIED

Possibly the least shocking development in the history of Bitcoin. Cannae believe they didn't withdraw it themselves but I suppose it was worth a punt if they'd gotten stoned that day.

Since we never saw any hype behind the solid x ETF and no one expected anything different from the SEC this time around it wont be a big news that could influence the price of bitcoin.Hope it will recover in a couple of months and we will see another bull run if the yet another exploit is found in BU which i think is possible,because they got hammered two times already and third time is a charm.

[york780]

IT WAS DENIED

Order Disapproving a Proposed Rule Change, as Modified by Amendment No. 1, Relating to the Listing and Trading of Shares of the SolidX Bitcoin Trust under NYSE Arca Equities Rule 8.201

https://www.sec.gov/rules/sro/nysearca/2017/34-80319.pdf

Well.. they didnt even made a nice build up like Winklevoss ETF. Just : no. Such a pitty

[Sundark]

IT WAS DENIED

Order Disapproving a Proposed Rule Change, as Modified by Amendment No. 1, Relating to the Listing and Trading of Shares of the SolidX Bitcoin Trust under NYSE Arca Equities Rule 8.201

https://www.sec.gov/rules/sro/nysearca/2017/34-80319.pdf

Well.. they didnt even made a nice build up like Winklevoss ETF. Just : no. Such a pitty

The only natural outcome. At this point we need to assume that every ETF - COIN, Solid X, Greyscale something else is all dead in the water.
It is not problem with company behind the ETF and rather, it is complaint by SEC that bitcoin is asset hard (probably impossible even) to regulate.
There won't be hype about next ETFs, investors are not stupid to fell for it again, there is not way to exploit this subject to pump BTC anymore.

[alyssa85]

They will likely wait and see for a few years to find out whether the regulated exchanges (Gemini and Coinbase) gain volume. If the regulated exchanges do end up with the most volume in a year's time, then one of the two remaining ETF's will get approved. As long as the bulk of the volume is in non-US exchanges like Bitfinex and the Chinese exchanges, then the answer will be No.

You mean like 16M volume? because there are only 1M bitcoins in circulation worldwide and moving around different exchanges and no exchange will ever gain enough volume for SEC to approve any ETF. bitcoin doesn't need any ETFs but rather stability in performance.

I meant gain volume in percentage terms. As in the majority of all trading is happening on regulated exchanges.

If the majority of trading is on unregulated exchanges, they will continue to deny - and it looks like they have denied this one too.

There is only one more ETF left in the pipeline. If volume on the regulated exchanges doesn't increase, that one will get denied too.

[gentlemand]

There is only one more ETF left in the pipeline. If volume on the regulated exchanges doesn't increase, that one will get denied too.

All applications are 100% DOA even if it isn't declared yet. It'll take years before it changes sufficiently and even then they'll probably cite P2P stuff as the reason not to.

[HabBear]

Anyone really shocked?

Another article from Business Insider: http://www.businessinsider.com/bitcoin-price-dives-after-sec-rejects-plans-for-etf-2017-3

No market response, of course, because no one cares. I'm surprised the SEC was so blatant to say that the market needs to be regulated. It'll just never happen, right?

[york780]

Anyone really shocked?

Another article from Business Insider: http://www.businessinsider.com/bitcoin-price-dives-after-sec-rejects-plans-for-etf-2017-3

No market response, of course, because no one cares. I'm surprised the SEC was so blatant to say that the market needs to be regulated. It'll just never happen, right?

Nobody can bind bitcoin in boundaries and try to make it somebody's regulated pet. On short term a ETF aproval would be a good thing. But on the long term it could destroy bitcoin. Dont regulate what is meant to lack any regulation. Bitcoin is for the people, not wallstreet speculants.

[xypos]

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.

Not really.

After the first hype there isn't much hype for the second one because the result is quite foreseeable. The first bitcoin ETF was talked about on this forum every single day on the speculation boards from at least 1 month before the actual ETF decision.

And this one? Well, you're probably one of the first ones to even bring the topic up.

It is obvious now that the SEC has no intention of approving any bitcoin ETFs. Companies should just give up.

Nobody cares about SEC's opinion on bitcoin anyways.