Over 600 Public Comments Flood the SEC Website For The CBOE Bitcoin (BTC) ETF

[SUDARMONO]

this is very good and I really believe that many people hope for success in the SEC agreement, because I think that with all these prices will be able to recover again soaring again.

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[goshay97]

The will end up approving the ETF.  Don't worry about that.  More of a question of when.  I heard there may be an announcement on the 23rd of August.  If not them it will be in September or February. 

[elenora]

All the crypto lovers already know that Bitcoin ETF has been topping news this year in the crypto world but do you know that there is a similar product that already exists?

The product is similar to Bitcoin ETF and the investors in US markets will be benefited by it as they will be able to allocate more funds into that bitcoin market.

Nine companies have currently applied to the US Securities and Exchange Commission(SEC) to work on the bitcoin exchange-traded fund. Two companies named The Chicago Board Options Exchange (CBOE) and VanEck bitcoin ETFs have the highest probability of being approved by the SEC by early 2019.

Now to explain ETFs, they are tradable instruments that are meant for the public and is listed on the stock market. It allows investors to trades the assets and commodities with their brokerage accounts. They can also invest in copper and gold.

Investors of cryptocurrency sector including BKCM organizer Brian Kelly and Fundstrat expert Tom Lee have said that launching a bitcoin ETF in US markets will adequately legitimize the bitcoin and cryptocurrency market, opening the cryptocurrency segment to a group of investors who were not ready to put resources into BTC, perhaps because of administrative clashes.

Fundstrat founder Tom Lee has also stated that a bitcoin ETF would make cryptocurrency a legal matter as an asset class. However, it is not perfectly true that the traders or investors in the old fiat currency market cannot invest in BTC and cryptocurrencies as a new asset class.

But, last year, an ETN in Sweden operated by XBT Provider has been observed with a significant increase in its volume, which surpassed the volume of 80 percent of ETFs in the US.

Eric Balchunas, an ETF expert tweeted back in December,

“Sweden’s bitcoin ETN is now bigger and trades more than about 80% of US ETFs. It hit $700m in aum today while trading $220m this week (insane #s for Sweden)”

The CEO of CoinShares, Ryan Radloff which examines the operation of the ETN, said that the expansion of the ETN from Sweden to the US is an enormous triumph for the Bitcoin sector. He stated,

“Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin. Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona.”

Now the Doubt is whether ETN is as worthy as ETF?

Last year, Mark Cuban, who is the billionaire investor and also the owner of the NBA team Dallas Mavericks, said in an interview with Bloomberg that he proceeded his first investment in bitcoin through the XBT Provider bitcoin ETN. He said,

“It is interesting because there are a lot of assets which their value is just based on supply and demand. Most stocks, there is no intrinsic value because you have no true ownership rights and no voting rights. You just have the ability to buy and sell those stocks. BTC is the same thing. Its value is based on supply demand. I have bought some through an ETN based on a Swedish exchange.”

So, ETN has the similar ability and it provides more of the same liquidity to investors in the US markets.  Click Here to read full.

[ribowo76]

I think it's a good thing, because it shows that not a few people support bitcoin. That can be seen from the increasing number of bitcoin communities from time to time. It should be considered by the SEC

[solarsun]

Once the ETF goes live and is announce this thing is going to hit the stratosphere.  They have built up this decision so big that when they announce it the FOMO boys are going to loose their shit.

[jennyshefard]

Given how absurd ETF is becoming and with the latest decision that they have passed on, this reaction is completely expected. They need to give reasons as to why they have acted like this otherwise this will bring a depression in the market.

[Airbuxf]

If SEC supports Bitcoin ETF, then it would be good for Bitcoin. Bitcoin will be more reliable than ever before and the interest of people will increase. I think Bitcoin's future will be more brighter.

Bitcoin desn't need ETF's. There was no such topic year ago. It appeared wehn people are scared that prices are going down an desperately look for things that may rescue the whole situation.

[rindo]

The momentum of low volatility faced by the cryptoactive market also had an effect on traditional stock markets. The Bitcoin (BTC) futures market traded on the Chicago Board and Option Exchange (CBOE) hit record levels of low volatility in October, in contrast to global stock markets.

The average weekly volatility in the week ended Oct. 26 was only 3% for future XBT-CBOE Bitcoin, the lowest level since they were launched for trading on December 10.

However, in the monthly chart, the October total recorded record levels of low volatility, an average of 6.6%. With this said the ETF is around the corner.

[BuyBuyBitcoin]

If SEC supports Bitcoin ETF, then it would be good for Bitcoin. Bitcoin will be more reliable than ever before and the interest of people will increase. I think Bitcoin's future will be more brighter.

Bitcoin desn't need ETF's. There was no such topic year ago. It appeared wehn people are scared that prices are going down an desperately look for things that may rescue the whole situation.

EXACTLY. ETF just brings in speculators to make the price more volatile, it doesn't help bitcoin or hurt it if ETF's are involved.

Plus the SEC has to do back room discussions with the Fed and IRS for how this will affect the US dollar and taxes in the US. Nobody has any clue whether it makes the USD go down on the global market or up, once ETF's are either approved or denied by the SEC.