Bitcoin Forum
December 04, 2022, 02:56:50 AM *
News: Reminder: do not keep your money in online accounts
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: More Bitcoin ETF Rejections Drive The Market Down  (Read 62 times)
iconoclast (OP)
Full Member
***
Offline Offline

Activity: 770
Merit: 102


Matrix Built On An Ethereum Smart Contract


View Profile
August 23, 2018, 03:12:05 AM
 #1

The Securities and Exchange Commission (SEC) has issued rejections to bitcoin exchange-traded fund (ETFs) proposals from ProShares, Direxion and GraniteShares.

https://www.coindesk.com/sec-rejects-7-bitcoin-etf-proposals/

I think it is getting pretty apparant that the SEC has no intention of allowing any sort of Bitcoin ETF in the near future. It always struck me as the wrong approach for the development of cryptocurrencies. Putting a decentralised cryptocurrency that anyone can trade on a centralised exchange where it can only be bought through regulated intermediaries defeats the entire purpose of the blockchain. It seems to me that actually tokenising assets (like ETF's, Shares, Bonds etc.) and putting them on a blockchain where they can be traded is the future. That future is good news for Alts that can tokenise assets and bad news for Bitcoin which seems to hoping that ETF's will save them from their technological limitations.

1670122610
Hero Member
*
Offline Offline

Posts: 1670122610

View Profile Personal Message (Offline)

Ignore
1670122610
Reply with quote  #2

1670122610
Report to moderator
"With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1670122610
Hero Member
*
Offline Offline

Posts: 1670122610

View Profile Personal Message (Offline)

Ignore
1670122610
Reply with quote  #2

1670122610
Report to moderator
1670122610
Hero Member
*
Offline Offline

Posts: 1670122610

View Profile Personal Message (Offline)

Ignore
1670122610
Reply with quote  #2

1670122610
Report to moderator
BitcoinHodler
Hero Member
*****
Offline Offline

Activity: 1456
Merit: 578


HODLing is an art, not just a word...


View Profile
August 23, 2018, 06:48:51 AM
 #2

market would have gone down even if SEC approved ETF. its rejection was just another excuse for the pumpers to dump their altcoins and drive their prices lower and take another step towards that bottom that is still far away. otherwise you can see that bitcoin is still keeping its price up and it is still around $6400 and strongly above $6k while others go down.

I think it is getting pretty apparant that the SEC has no intention of allowing any sort of Bitcoin ETF in the near future.

from day 1 i said ETF is not going to be approved, i got caught up in the hype for a short time and became unsure but i came back to being nearly sure that they will continue rejecting all of them.

Holding Bitcoin More Every Day
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!