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Author Topic: Will SEC never approve Bitcoin ETF?  (Read 16765 times)
kaisa
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January 15, 2019, 07:30:30 AM
 #61

This is January 2019 and ETF is a few weeks away I'm hoping it will finally get approved and no more postponing ,both bakkt and ETF will play a huge part in cryptocurrency world if they get approved
I'm not sure they will affect the price of bitcoin because their platform is stock trading just like the current exchange. I prefer if there is a service company or e-commerce that accepts bitcoin transactions for payment. The issue of the SEC will receive ETFs depends on the agreement they offer on the proposal. If the proposal they offer is safe to use to trade cryptocurrency, then the possibility of receiving it is very large.
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January 17, 2019, 08:37:22 AM
 #62

I believe that SEC will approve  BTC. But BTC needs better conditions for this.
I think SEC have a very tricky policy. And as soon as BTC begins to grow, they immediately will remember us.
I also admit the possibility that SEC does not specifically approve BTC now. Since this may affect growth.
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January 17, 2019, 08:48:04 AM
 #63

The SEC is constantly postponing the adoption of bitcoin ETFs and this says that they are against bitcoin. I think that even if this does not happen, bitcoin will grow, because people need it.

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January 17, 2019, 04:10:59 PM
 #64

Think about the inheritance and how the process should take place, and then remember all the funny stories and the inheritance that happen even now, it will be fun with the crypt in general. Think about the fact that if you have a very large amount, it is enough just to remove you, so that this amount will be permanently removed from circulation, and therefore all the remaining participants in a clear plus, there will be a tough hunt for large wallets in the future, not to pick up , just to no longer move. And so on, I can go on like this for a long time and I have a huge amount of arguments.

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January 17, 2019, 07:49:24 PM
 #65

I also read that we should not expect the SEC to approve bitcoin ETF. Apparently this is not profitable for someone, it's not for nothing that this acceptance is constantly postponed. So I think we should stop hoping for that.
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January 17, 2019, 10:28:16 PM
 #66

Can someone explain in ELI5 why would approving Bitcoin by SEC send the prices to the moon?
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January 17, 2019, 11:16:01 PM
 #67

I also read that we should not expect the SEC to approve bitcoin ETF. Apparently this is not profitable for someone, it's not for nothing that this acceptance is constantly postponed. So I think we should stop hoping for that.

They have nothing to gain by approving it and there has to be a lot of pressure and lobbying from the banks because the banks have a lot to lose.
The sec also has something to lose which is their face if the ETF goes bankrupt. Bitcoin had some bugs that were patched. What if one doesn't get patched and makes the price crash enough to kill the ETF?

We don't need ETF yet.

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January 19, 2019, 09:54:19 AM
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 #68

~snip~
They have nothing to gain by approving it and there has to be a lot of pressure and lobbying from the banks because the banks have a lot to lose.
I don't think that would be the case, if they'll approve it more exchanges will operate as it's expected that more people will adopt with crypto and since it's in the early stage now, we cannot be independent as most of the people still prefers fiat than crypto.
However, with the support of the bank, things will be possible, they will be the bridge and will influence people who do banking to also try crypto.
The sec also has something to lose which is their face if the ETF goes bankrupt. Bitcoin had some bugs that were patched. What if one doesn't get patched and makes the price crash enough to kill the ETF?

We don't need ETF yet.
I don't to comment on the technical aspect of bitcoin since I don't have enough knowledge on that, but the fact that bitcoin existed until now and successful, I think any problem that will come up has a solution from the crypto community.




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January 20, 2019, 12:09:13 AM
 #69

~snip~
They have nothing to gain by approving it and there has to be a lot of pressure and lobbying from the banks because the banks have a lot to lose.
I don't think that would be the case, if they'll approve it more exchanges will operate as it's expected that more people will adopt with crypto and since it's in the early stage now, we cannot be independent as most of the people still prefers fiat than crypto.
However, with the support of the bank, things will be possible, they will be the bridge and will influence people who do banking to also try crypto.
The sec also has something to lose which is their face if the ETF goes bankrupt. Bitcoin had some bugs that were patched. What if one doesn't get patched and makes the price crash enough to kill the ETF?

We don't need ETF yet.
I don't to comment on the technical aspect of bitcoin since I don't have enough knowledge on that, but the fact that bitcoin existed until now and successful, I think any problem that will come up has a solution from the crypto community.

They don't see it this way. To them it's only a burden. It's a technology that nobody controls and nobody will be responsible if something goes wrong. The only people responsible will be the SEC because they would be the ones who accepted it and thought it to be safe. There's no Satoshi to blame and when people lose money they look for scapegoats. Heads have to be rolling to satisfy the mob.

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January 20, 2019, 12:24:03 AM
 #70

I also read that we should not expect the SEC to approve bitcoin ETF. Apparently this is not profitable for someone, it's not for nothing that this acceptance is constantly postponed. So I think we should stop hoping for that.

They have nothing to gain by approving it and there has to be a lot of pressure and lobbying from the banks because the banks have a lot to lose.
The sec also has something to lose which is their face if the ETF goes bankrupt. Bitcoin had some bugs that were patched. What if one doesn't get patched and makes the price crash enough to kill the ETF?

We don't need ETF yet.

I don't think we should like at that angle. Does it mean that everything that SEC has approved in the past (not just cryptocurrency for that matter), has incentives to them? SEC is just a governing body, its the people behind and not the office itself to lose face if they make wrong decisions, in my opinion.

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January 20, 2019, 10:06:08 PM
 #71

I don't think we should like at that angle. Does it mean that everything that SEC has approved in the past (not just cryptocurrency for that matter), has incentives to them? SEC is just a governing body, its the people behind and not the office itself to lose face if they make wrong decisions, in my opinion.

But aren't they supposed to enforce the rules, fine the fraudulent companies, sue people responsible? With Bitcoin there's nobody to fine and nobody to sue. If the Bitcoin economy collapses because there was a bug that people missed or the algorithm was cracked there will be nobody to blame but the SEC for approving something that can potentially go to 0. There are no people behind Bitcoin to make the wrong decisions. There's only investors who can profit or lose everything.

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January 21, 2019, 12:01:40 AM
 #72

The Bitcoin ETF currently has been scheduled to February 28 and i think we are all awaiting that decision. This legal approval involves a whole lot of factors which the SEC needs to consider and that is why it is taking so much long to get it approved or disapproved.

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January 25, 2019, 05:51:48 AM
 #73

The Bitcoin ETF currently has been scheduled to February 28 and i think we are all awaiting that decision. This legal approval involves a whole lot of factors which the SEC needs to consider and that is why it is taking so much long to get it approved or disapproved.
Its also due to the fact that governments are not that interested in getting into crypto and making it mainstream and have other stuff to worry about. For example their own political propaganda and making sure the big industrialists are able to work properly. Its all part of the system what we live in. In future slowly by gradually crypto may be considered and then ETF would be a more simpler thing to allow.

The February ETF is the next one but lets not get too enthusiastic about it because both bulls and bears will be trying to take advantage of this. Better not to do any trades prior to this.

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January 25, 2019, 08:47:24 AM
 #74

The commission did not approve the first applications but the September 30 application seems to me that it will be approved and we will fly to the moon Wink
I don't believe that the September ETF got approved either due to concerns of manipulation by the SEC. EVen if it does approve crypto based ETFs in the future, which it probably will do once the market is more regulated for investors, it won't mean that you will "fly to the moon" - that' just peddling a fake ideaology. All that ETFs will do is allow people to hold crypto indirectly through a collective investment scheme.

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January 25, 2019, 10:04:51 AM
 #75

Bitcoin reached its all time high price ($2k) in December, 2017 without the SEC's approval of ETF. This shows that Bitcoin can still survive without ETF being approved. It will be a good news if SEC accept it but we shouldn't consider it as though SEC's acceptance of Bitcoin ETF is the X factor for the survival of BTC.
What matters most is the continuous positive attitude of Bitcoin holders towards it on the market.

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January 25, 2019, 01:07:07 PM
 #76

I think a bitcoin ETF will be approved in a few years but for now, no chance. I just don’t think the SEC are going to approve anything put forward.

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January 25, 2019, 02:01:56 PM
Last edit: January 25, 2019, 02:13:33 PM by Stedsm
 #77

I think a bitcoin ETF will be approved in a few years but for now, no chance. I just don’t think the SEC are going to approve anything put forward.

First thing, SEC have got too much time to study the markets and people don't really give a fuck about ETF getting approved or not.
Second, CBOE withdrew their VanEck/SolidX ETF application due to a rule change discussion that will be compulsory for an ETF to get approval. So, when such news is out, others who've filed their applications will think twice before keeping themselves in the game as VanEck/SolidX ETF had been an all-rounder in all ways but still they backed off. So, things are becoming easier for SEC as they're getting the reason of their headache being blown away itself.

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January 25, 2019, 02:40:07 PM
 #78

i strongly believe SEC will someday approve ETF but when that will be no one knows for sure. SEC is just taking time to analyze everything carefully before the approval so investors will not loose money to eople who manipulate bitcoin price

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January 25, 2019, 04:11:32 PM
 #79

I think a bitcoin ETF will be approved in a few years but for now, no chance. I just don’t think the SEC are going to approve anything put forward.
No matter how long, if the SEC still sees bitcoin investment as a high-risk commodity, they will never approve it. Bitcoin is considered too risky because of many things like fluctuations or manipulation. if bitcoin investment is practically safe according to their judgment. then bitcoin will definitely be approved, lets see in the future
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January 25, 2019, 06:52:38 PM
 #80

I still think the SEC will not approve the bitcoin ETF. seeing the many delays that they have done isn't this already certain that they are still in doubt and lacking in trust in bitcoin. until the deadline I think there will be another delay that will occur. this is only to dampen the crypto community's disappointment about the rejection.

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