ETF's might not be good for Bitcoin

[GoldenOrder]

I have been reading many BTC holders all over the internet eagerly wanting ETFs to be accepted, thinking Wall Street money will increase the price of BTC to ATH and beyond. The truth is that if ETFs without 100% collateral are accepted by the SEC, then we will see price supression for many many years. The only good ETF would be the one the Winklevoss brothers (with 100% collateral) are trying to get accepted by the SEC. The other 10 or so ETF are crap and would hurt BTC's price in the long term, because they will eventually (to put it simple) sell more ETF of BTC than BTC themselves, hence circumventing the 21 million limit BTC and eventually supressing the price. Its how Wall Street works. It happened with Gold and Silver after 2011.

Check the following article from a Wall Street veteran Caitin Long where she explains this with more details:

https://www.forbes.com/sites/caitlinlong/2018/08/21/two-things-that-dont-mix-well-bitcoin-rehypothecation-and-chain-forks/#3c693741e14a

People need to be aware of this and prepare for either case.

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[GoldenOrder]

So, nobody cares about this important subject? wow...

[Cogy]

You mentioned that we will see the impact on the price of the bitcoin in the long-run that means in the short run we will not see this as except increase in the price. Once it gets permitted then with the passage of time BTC will take steps to avoid such problems in the long-run.

[avikz]

I have been saying the same thing to all. I have also proposed the same in a thread here. Read below,

https://bitcointalk.org/index.php?topic=4941563.0

Majority of the ETFs waiting for SEC's approval are synthetic ETFs where no physical bitcoins will be traded. Their collateral will be bitcoin futures offered by a third party. These kind of ETFs will do no good to the market as no fresh funds will flow into it.

Like you correctly mentioned, the Winklevoss ETF is the only ETF that can bring fresh funds into the market because they are going to trade in physical bitcoins. Their proposed ETF will be 100% backed by physical bitcoins. So it is the only ETF that can be considered good for the market. But sadly, I don't see much hope from the SEC and I think, it will be rejected as well. SEC won't allow funds from American investors to flow into bitcoin market. I don't see much hope there!

[Cecilve]

I have been reading many BTC holders all over the internet eagerly wanting ETFs to be accepted, thinking Wall Street money will increase the price of BTC to ATH and beyond. The truth is that if ETFs without 100% collateral are accepted by the SEC, then we will see price supression for many many years. The only good ETF would be the one the Winklevoss brothers (with 100% collateral) are trying to get accepted by the SEC. The other 10 or so ETF are crap and would hurt BTC's price in the long term, because they will eventually (to put it simple) sell more ETF of BTC than BTC themselves, hence circumventing the 21 million limit BTC and eventually supressing the price. Its how Wall Street works. It happened with Gold and Silver after 2011.

Check the following article from a Wall Street veteran Caitin Long where she explains this with more details:

https://www.forbes.com/sites/caitlinlong/2018/08/21/two-things-that-dont-mix-well-bitcoin-rehypothecation-and-chain-forks/#3c693741e14a

People need to be aware of this and prepare for either case.

Since this became a popular topic around BTC my standpoint didn't change. Bitcoin did not need ETF's to rise in valuation and did not need ETF's to be adopted by more and more people.

[rudox]

The ETF issue and SEC is really becoming like the magic wand that will surely move the price of Bitcoin and the altcoins. But if there is any caution that needs to be observed before the next meeting with SEC, The caution must be observed and settled because if any other severe bearish period fall on the bitcoin market again it will be difficult to overcome it.

[Binugon]

I have been reading many BTC holders all over the internet eagerly wanting ETFs to be accepted, thinking Wall Street money will increase the price of BTC to ATH and beyond. The truth is that if ETFs without 100% collateral are accepted by the SEC, then we will see price supression for many many years. The only good ETF would be the one the Winklevoss brothers (with 100% collateral) are trying to get accepted by the SEC. The other 10 or so ETF are crap and would hurt BTC's price in the long term, because they will eventually (to put it simple) sell more ETF of BTC than BTC themselves, hence circumventing the 21 million limit BTC and eventually supressing the price. Its how Wall Street works. It happened with Gold and Silver after 2011.

Check the following article from a Wall Street veteran Caitin Long where she explains this with more details:

https://www.forbes.com/sites/caitlinlong/2018/08/21/two-things-that-dont-mix-well-bitcoin-rehypothecation-and-chain-forks/#3c693741e14a

People need to be aware of this and prepare for either case.

If the Bitcoin ETF proposal is approved, then people can buy Bitcoin without having to deal with sluggish exchanges that often struggle with complicated regulations and lack of public trust, the impact on the market will significantly influence and potentially lift bitcoin, now just waiting for approval.

[electronicash]

price of btc rises even without ETF so that a good proof that ETF is not really needed at all.
if its approved we got nothing to do with it as regulations are being finalized and btc might just dip to its very bottom. by then we should realize that ETF isn't the answer for the decentralized coins. its best as it is and it should stay that way after all we live without ETF.

[salinaangel]

You gave an important information about ETF. I also thought about this topic. I will get more information on this subject so that I can be careful. I hope that the information you present will be beneficial for us.

[YuginKadoya]

It is too obvious that we are just riding in the palm of their hands we are waiting for ETF to sure approved Cryptocurrency so we can see a surge in the value But they surely make us wait to long, and let us hang into their promise but that's all go to waste, We sure don't need something from them because bitcoin will still continue to increase without them that's for sure, Well it is not good because some people that don't know bitcoin would think that bitcoin is not a good investment and just a fraud because ETF and SEC doesn't really want to approved it.

[ranman09]

Wow, it did cross my mind before, but I thought it was not a problem, but it was good only for short-term and not for long-term. It may seem that we are scarce for bitcoin to rise and give profits that we are sometimes forgetting simple things.

[Gary Levanevskii]

I think after the appearance of ETF on Bitcoin, the scope of cryptocurrency will become more adjustable. This is a lot of pluses but in addition to this minuses. Personal verification will become even more important.

[Rahar02]

The truth is that if ETFs without 100% collateral are accepted by the SEC, then we will see price supression for many many years.

The last spike was driven by some bitcoin futures contracts which push the price to the new ATH but now, here it is around $6900-$7000. No wonder why many people want ETF approval so that the price can exceed $20K, simply because they want profits, although the price will fall again.
Nevertheless, SEC rejects the Winklevoss brothers’ ETF application in July, and the van eck/solid x proposal will be decided by the end of this month, probably will be rejected as well. Not an easy task to fulfill the requirement that national securities exchange's rules design to prevent fraudulent and manipulative acts and practices. The thing is, SEC will make the decision whether ETF will be approved or not, whether we like it or not.

[anushkasachith888]

There is a hesitation right now among people. I think ETF thing is the major reason why there is a hesitation. ETF rejection will push the price back to $ 3,000. then buyers will come to buy at the dip.

[Shubhamgill33]

Does not think that it will cause bitcoin prices to rise too much. The current ETF proposal supported by CBOE will not change much as it has a trading size which a small investor cannot afford. It is only for those who can invest thousands of dollars. Only if Bitcoin etf becomes easily accessible to common masses, we will see a significant price rise in bitcoin.

[bitcoinminer566]

you are right, ETF's not be good for bitcoin when bitcoin ETF not approve by SEC. if bitcoin ETF are approve then bitcoin price will be high. people are increasing their interest to invest here.

[KingKongBong4152]

i am agree with you, ETF's not be good for bitcoin because bitcoin ETF not approve by SEC. if it is approved by SEC then it will affect on bitcoin price. it will be more secure than before.

[BALIK]

ETFs will definitely bring a lot of FOMO to the cryptocurrency industry, at least in the short term it should lead to a huge spike in the stability and value of the industry. Over the long term, it might lead to fewer people directly investing in cryptocurrency, and more in the ETFs hence having a long term detrimental effect.

[A S Valentina]

I agree with you. The approval of ETF would be the bad idea for BTC. What worries me more is the counterparty risk issue. ETF can introduce this problem into btc.

[glaccief]

Honestly, we really do need to stop with all the fuss with ETF and how it will be bad for BTC. In the past we have seen that how badly BTC got affected by it and we do not want an encore of that. We need to focus on the coins that are running successfully in the market.