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Author Topic: ETF REJECTION  (Read 138 times)
GeckoTrader
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August 23, 2018, 06:38:16 AM
 #1

💥ETF Rejection💥

The Proshares ETF application was denied by the SEC.

The application required a rule change to be accepted by the SEC. When handing down their decision the SEC explained that the rules could not be changed and that the decision in no way means the SEC does not believe in the viability of blockchain technology.

The Proshares application included a long and a short $BTC product tied to $BTC futures contracts. It came as no surprise that the application was rejected as the Proshares products were tied to a highly volatile and leveraged 9 month old asset class.

It should also be noted that this product is not physically backed by $BTC.

This may play well into the hands of the Vaneck-SolidX application which is due to be decided in one months time.

The SEC is tasked with protecting retail investors. The Vaneck-SolidX ETF product has a unit size of 25 $BTC with a target audience of institutional investors.

In comparison to the failed attempts of previous ETF applications, the Vaneck-SolidX application appears far superior.

The proverbial red herring rejection today will undoubtedly send the market into a downward spiral, a great shorting opportunity.

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BlockchainGod
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August 23, 2018, 06:43:44 AM
 #2

The market is already in a downward spiral, I do not even know what will happen now. Although on the other hand I think a few people really believed in taking bitcoin ETF so there could be no disaster.

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August 23, 2018, 06:48:01 AM
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Bitcoin still works like it was created to? Moving on...

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August 23, 2018, 07:22:59 AM
 #4

I will like correct you on this bitcoin ETF rejection , it was not rejected but more further hearing will be open on 30th of September 2018. SEC is the process of checking security of Bitcoin .although banks are behind this delay. But we all know that the SEC can't fight the blockchain technology. They will definitely accept it, is just a matter of time.
GeckoTrader
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August 23, 2018, 07:32:23 AM
 #5

I will like correct you on this bitcoin ETF rejection , it was not rejected but more further hearing will be open on 30th of September 2018. SEC is the process of checking security of Bitcoin .although banks are behind this delay. But we all know that the SEC can't fight the blockchain technology. They will definitely accept it, is just a matter of time.

Kindly read it again. "The Proshares ETF application was denied by the SEC".

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August 23, 2018, 07:37:37 AM
 #6

why so many hype around ETF? Do you guys at least understand what is it and why we need it? Because it is not something 100% good for Bitcoin.
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August 23, 2018, 08:47:15 AM
 #7

The proverbial red herring rejection today will undoubtedly send the market into a downward spiral, a great shorting opportunity.

LOL!
considering market moves very fast and the reaction to the news is nearly instant you can say that this is already old news and looking at the price it did NOT make a move at all as a reaction to this news.

in fact many analysts believe that people stopped giving a shit about ETF Wink














 

 

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CAPTEZECC
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August 23, 2018, 08:59:27 AM
 #8

This delays or denial by the almighty SEC, I don't think its the end of the world. So many innovations have been denied several times by some regulatory bodies over the years and later the world found out that they can not do without that same innovation that was rejected. Blockchain technology and bitcoin can be rejected a thousand times but it makes no meaning.
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August 23, 2018, 09:13:10 AM
 #9

I will like correct you on this bitcoin ETF rejection , it was not rejected but more further hearing will be open on 30th of September 2018. SEC is the process of checking security of Bitcoin .although banks are behind this delay. But we all know that the SEC can't fight the blockchain technology. They will definitely accept it, is just a matter of time.
I agree. Sooner or later they will have to take bitcoin ETF. They just can not miss such a chance to make a lot of money.

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August 23, 2018, 09:14:53 AM
 #10

When all countries start using blockchains, even the SEC will be affected, and they cannot ignore the use of blockchains! And I believe that even without ETF, Bitcoin can develop very well!
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August 23, 2018, 09:18:10 AM
 #11

It seems to me, those guys from the SEC just delay the inevitable. Bitcoin has already been adopted in most countries and stores around the world, they just have to accept the ETF whether they want it or not.

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August 23, 2018, 09:23:32 AM
 #12

The proverbial red herring rejection today will undoubtedly send the market into a downward spiral, a great shorting opportunity.

It's not only Proshares ETF, it was about 9 ETF applications rejected, from 3 aplicants.
Even more, they've done this yesterday, one day early. So it's already almost old news, so the ones that wanted to short had plenty of opportunities yesterday, at way better prices.
I don't expect today anything big on the market.

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August 23, 2018, 09:30:23 AM
 #13

The market reacted sharply as the news of the rejection happened. The market showed signs of downtrend again as Bitcoin dipped some dollars. We await to see if the bitcoin ETF would be accepted in September 30th
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August 23, 2018, 09:31:50 AM
 #14

This ETF is an attempt to hoodwink bitcoin and blockchain. It will never work because both are incompatible. The earlier they understand it the better. Bitcoin is unstoppable.

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August 23, 2018, 09:34:22 AM
 #15

Verybad news for whole crypto ecosystem, we are still in the bearish months and this sad thing come in. Looks making an extension for the market recovery. I predict this year 2018 will not have bull market or buyers choice. Sad to hear, even one of my campaign pause their ICO. Therefore im confuse if crypto will be okey

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August 23, 2018, 09:39:26 AM
 #16

However, nothing surprising. The SEC does not want to take bitcoin ETF for a  more then year now. But I think that they will have to do it. Sooner or later.

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August 23, 2018, 09:46:49 AM
 #17

I will like correct you on this bitcoin ETF rejection , it was not rejected but more further hearing will be open on 30th of September 2018. SEC is the process of checking security of Bitcoin .although banks are behind this delay. But we all know that the SEC can't fight the blockchain technology. They will definitely accept it, is just a matter of time.

Kindly read it again. "The Proshares ETF application was denied by the SEC".

 Not yet reject my friend. The Sec is having a final decision on september 30 ,2018. Etf still have a chances to approved and hope no matter sec decision made hope it will not made more depth of bitcoin and other crypto

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August 23, 2018, 10:21:03 AM
 #18

I will like correct you on this bitcoin ETF rejection , it was not rejected but more further hearing will be open on 30th of September 2018. SEC is the process of checking security of Bitcoin .although banks are behind this delay. But we all know that the SEC can't fight the blockchain technology. They will definitely accept it, is just a matter of time.
I fully support your opinion. And anyway, we cannot depend on the SEC, it's just a fiction that makes us believe in a policy that is bought with the money.

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August 23, 2018, 10:32:12 AM
 #19

If I understood correctly it can mean that cryptocurrency is facing the greatest discouragement and frustration from all the times before and we will go down even deeper.

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August 23, 2018, 10:34:37 AM
 #20

The market is already in a downward spiral in the world. I do not know what will happen now. Although on the other hand I think a few people really believed in taking bitcoin ETF. So there could be no disaster. Wink
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