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Author Topic: Another bitcoin ETF gets rejection by SEC  (Read 213 times)
audaciousbeing
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July 27, 2018, 12:20:58 PM
 #21

Two days after postponing the decision on Direxion’s Bitcoin (BTC) ETF Proposals and five other bitcoin ETFs filed by NYSE Arca, Inc, SEC has come vicious this time as it shattered the dream of Winklevoss twins of launching a bitcoin ETF. This is the second time in two years that Winklevoss twin’s application has been rejected.

Now all eyes will be on CBOE- SolidX Bitcoin ETF which should be next in line for SEC for approval. Although the precedents that the SEC is setting are not really positive, some experts still believe CBOE application is something that can get approved.

Reff: https://coingape.com/cboe-bitcoin-etf-holds-chance-sec-rejects-winklevoss-proposal/

While the effect of this would have made everyone laugh should in case the decision came out positive, I think its really good its happening so everyone can move on from this tying of destiny on ETF approval which might would come with disappointment eventually. For those waiting on the postponed decision, I would not be optimistic about it except there is something significantly different from the ones they have rejected to get another opinion from SEC which could even create more problem as speculations of would rise as to some form of victimisation against the Winklevoss twins for launching their own product first.

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July 29, 2018, 08:17:12 PM
 #22

I also think that the ETF, which will be approved in August, as a lot of fundamental factors testify to the positive decision. To wait remains absolutely not for long.
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July 29, 2018, 08:20:18 PM
 #23

CBOE can deliver secure platform that is for sure but bitcoin price manipulation
SEC may use that argument as they want to reject ETF
So only one way is to create strong demand and have some  influential lobbyst
lets see one day it will happen if not that year than another
Maybe it can be approved in UK or Switzerland

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July 29, 2018, 08:27:11 PM
 #24

bitcoin ETF will be accepted very very soon. We just have to wait
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July 29, 2018, 08:29:12 PM
 #25

The main reason for the rejection is that they are not fully convinced that the market cannot be manipulated.
They also need to have guarantees that exchanges can be designed to prevent fraud and other manipulative acts.


I think sooner or later SEC will approve Bitcoin ETF, but this will happen when they'll feel like most of Bitcoin's volume comes from well-regulated exchanges. Bitcoin's volume and volatility might also be a factor, as it seems like SEC thinks that some big price movements are a result of manipulation, which might or might not be true, since speculative behavior of the masses is also a big factor that can explain rallies and crashes.

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July 29, 2018, 08:29:19 PM
 #26

Maybe we do not really need the ETF funds afterall, the market is still rising steadily and i think that is very healthy. ETF may affect bitcoin adversely
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July 29, 2018, 09:00:43 PM
 #27

Maybe we do not really need the ETF funds afterall, the market is still rising steadily and i think that is very healthy. ETF may affect bitcoin adversely
I guess a approval by governing body like SEC will really cemented Bitcoin and crypto as a trusted investment. On the contrary though, ETF's is non-existent until the first Winklevoss proposal was put forward last year. And then we saw what it can really do to the markete (push the price even higher). That's why ETF's has also a long term effect is ever we get that first approval next month. So let's see how everything will pans out. Other's are really nervous about it because it will define the future of bitcoin and also the rest of the cryptos.

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July 30, 2018, 05:16:49 PM
 #28

To get approved from SEC’s not a easy deal for any bitcoin ETF. To get approved they need to fulfill their requirement which’s are still improving bitcoin ETf’s . But I hope it will be approved SEC in future but it takes some time.
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July 30, 2018, 05:31:08 PM
 #29

The market is a bit lower now. I think the EFT will allow the SEC Very soon the crypto market will improve. Any time the market will turn and everything will become normal.
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July 30, 2018, 05:53:19 PM
 #30

I think SEC will again authorize the EFT. The market is downward now, that does not mean the market is finished. The market can be upwards at any time. And it will be very soon.
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July 30, 2018, 06:09:16 PM
 #31

Maybe we could actually do better without the bitcoin ETF , ideally I will not want Wall Street tightening the cryptospace with their rules
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July 30, 2018, 06:25:37 PM
 #32

Maybe we do not really need the ETF funds afterall, the market is still rising steadily and i think that is very healthy. ETF may affect bitcoin adversely

We don't need them because ETFs are centralized and the whole idea of Bitcoin is to support decentralization. Allow people to hold their own money and be independent of banks and other financial institutions. ETFs will hold your coins for you. Sure, they will give you insurance, but you won't own any coins, you will only have the fiat equivalent of those coins and that equivalent will be insured.

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BlackRogue
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July 30, 2018, 10:10:58 PM
 #33

It was sad to know bout the rejection , but it wasn't unexpected. The dominating parties have always truied their best to bring the decentralized systems down but I know they will soon realize the need of approving it. It's okay if it gets rejected now, it doesn't stop Bitcoin from growing. And also not like it's always going to get rejeced, let's hope for the best.
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July 30, 2018, 10:38:49 PM
 #34

SEC will stall anything related to Bitcoin as long they can.
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July 31, 2018, 09:53:17 AM
 #35

From my point of view it not true. Till now SEC think about the rejection. IT wil approve I believe. People feel positive reaction on EFT so it will definitely approve by sec.
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July 31, 2018, 09:55:59 AM
 #36

I think the main news of the market is this future ETF news! Others shook but did not wash. Obviously, if this is rejected then Bitcoin price will be very low.

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July 31, 2018, 10:04:22 AM
 #37

It's just rumored because Some people who hate Bitcoin themselves create bogus rumors about the ETF. To date, the Czech Republic has not yet announced a decision to accept or deny Bitcoin ETF. I think in September we will have the most accurate answer

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July 31, 2018, 10:07:58 AM
 #38

If the Czech Republic refuses Bitcoin ETF then I think the price will drop but not significantly. Because Bitcoin's community is huge. There are some investors who want to push Bitcoin prices up. We should not need the approval of the Czech Republic

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July 31, 2018, 10:53:19 AM
 #39

we need people to invest in the real bitcoin not into these ETF (illusion), someone other agree with me here about this ETF ?
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July 31, 2018, 04:39:52 PM
 #40

The rejection of the bitcoin ETF will continue to grow as it is still a very new market and the price movement is too huge. There is why more time is needed to monitor its growth.


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