SEC to Begin Reviewing 9 Rejected Bitcoin ETFs

[telexnetwork]

Hope this good news will add positive trading volume to all cryptocurrency, The Securities and Exchange Commission (SEC) has set a late October deadline to begin reviewing proposed rule changes that would allow several regulated exchange operators to list bitcoin ETF products on their trading platforms.
source of this news  https://www.ccn.com/resurrection-sec-to-begin-reviewing-9-rejected-bitcoin-etfs/

[ngm22585]

Hope this good news will add positive trading volume to all cryptocurrency, The Securities and Exchange Commission (SEC) has set a late October deadline to begin reviewing proposed rule changes that would allow several regulated exchange operators to list bitcoin ETF products on their trading platforms.
source of this news  https://www.ccn.com/resurrection-sec-to-begin-reviewing-9-rejected-bitcoin-etfs/

I do think that it can lead to good news.  There is more institutional interest than ever in cryptocurrency, and the SEC will appear completely unreasonable if there is no kind of compromise or framework established.

[Kemarit]

Hope this good news will add positive trading volume to all cryptocurrency, The Securities and Exchange Commission (SEC) has set a late October deadline to begin reviewing proposed rule changes that would allow several regulated exchange operators to list bitcoin ETF products on their trading platforms.
source of this news  https://www.ccn.com/resurrection-sec-to-begin-reviewing-9-rejected-bitcoin-etfs/

I'm sorry but I don't think it will bring any impact on the current price. Its just a review and nothing more. They have rejected everyone so I'm sure that we will get the same results here. I'm not against any ETF, it has both advantage and disadvantages, however, those who are in line for review is no different from each other, it still doesn't answer the universal question that SEC has been asking for "how can they prevent the market from being manipulated?

[audaciousbeing]

Hope this good news will add positive trading volume to all cryptocurrency, The Securities and Exchange Commission (SEC) has set a late October deadline to begin reviewing proposed rule changes that would allow several regulated exchange operators to list bitcoin ETF products on their trading platforms.
source of this news  https://www.ccn.com/resurrection-sec-to-begin-reviewing-9-rejected-bitcoin-etfs/

Just like everyone else have expressed their opinions, I will have to agree with them that there is no need to start to boost hope over an uncertainty that the chance of failing is higher than it being accepted.

Having read the whole of the article, it sure brings some beam of hope by highlighting that the previous rejections was done by the employees if SEC and now its to be reviewed by the commissioners and at the same time announcing that one of the commissioners is a pro-cryptocurrency but nothing is said about the other commissioners and when issues get to a head, its always subject to vote and no matter how valid points raised, the number of votes makes the difference. Another issue was the proposed timing when the review will be completed which has been proposed to be sometimes next year. This shows that its mere a way of increasing the hope of crypto enthusiast and nothing about making real difference.

[avikz]

What I see in the article that, the ETF proposals of ProShares, Direxion, and GraniteShares will be reviewed in late October. I know about Proshares ETF as it is not a physical ETF. They were proposed their ETF on CME Group's bitcoin futures! That means, no physical bitcoin will be traded at their end. They will rely on the value of bitcoin future's premium price.

I am not sure about the rest two! Can anyone here guide us regarding Direxion and GraniteShares? Are these proposals for physical ETF or Synthetic ETF?

[jossiel]

No one is going to buy with this news anymore. People now are wise enough to understand that these proposals won't cause any hype anymore at this moment unless there's a real demand.

[Theb]

I'm sorry but I don't think it will bring any impact on the current price. Its just a review and nothing more. They have rejected everyone so I'm sure that we will get the same results here. I'm not against any ETF, it has both advantage and disadvantages, however, those who are in line for review is no different from each other, it still doesn't answer the universal question that SEC has been asking for "how can they prevent the market from being manipulated?

The news report said they are making a review due to some amendments with it comes to their application. This review might not be something but it is their standard procedure when someone is appealing to them to get another formal review process. Even if they have positive news about the 9 ETFs in October 26, I doubt that it will cause a price rally (or even any kind of influence in the price) as a lot of people have clarified already that this kind of institutional investing in the market won't really influence the prices. Plus the news about ETFs is getting cold already, people might not even see any importance about this news once it is out later this month.

[CoinPocket]

I think nothing special about this news. Again, newsmakers try to manupilate cryptomarket.
But now it doesn't bring huge impact on prices like it was before with this kind news from SEC.

[milewilda]

I'm sorry but I don't think it will bring any impact on the current price. Its just a review and nothing more. They have rejected everyone so I'm sure that we will get the same results here. I'm not against any ETF, it has both advantage and disadvantages, however, those who are in line for review is no different from each other, it still doesn't answer the universal question that SEC has been asking for "how can they prevent the market from being manipulated?

The news report said they are making a review due to some amendments with it comes to their application. This review might not be something but it is their standard procedure when someone is appealing to them to get another formal review process. Even if they have positive news about the 9 ETFs in October 26, I doubt that it will cause a price rally (or even any kind of influence in the price) as a lot of people have clarified already that this kind of institutional investing in the market won't really influence the prices. Plus the news about ETFs is getting cold already, people might not even see any importance about this news once it is out later this month.

Even though we are done on this kind of news in regards with ETF as you said if such 9 review would turn out to be positive then it will surely spark out once again and i would say that even though we dont care on such manner when time comes that certain thing is happening then i will say that we would really be dragged once again on the hype.No matter what would be the result on this review it doesnt really care anymore.

[Flor1982]

Hope this good news will add positive trading volume to all cryptocurrency, The Securities and Exchange Commission (SEC) has set a late October deadline to begin reviewing proposed rule changes that would allow several regulated exchange operators to list bitcoin ETF products on their trading platforms.
source of this news  https://www.ccn.com/resurrection-sec-to-begin-reviewing-9-rejected-bitcoin-etfs/

It is a good news and the right thing to do for the SEC department to show the people that they are equal in all issues that they will review it carefully to see if the ETF is really feasible to the economy. Hopefully we will get favorable decision so that the bullish market will start soon.

[bryant.coleman]

Should we waste any more time in getting approval for the ETFs? The SEC had no valid reason for rejecting the approval. Yet they did that to please the bankers and the wall street criminals. These reviews are just hogwash, intended to give an impression that they are unbiased.

[dreamhouse]

Better they allow some to pass. It is funny that Bitcoin future is trading but no ETF allowed, it should be the opposite, to allow ETF first before the future.

[fisheater]

Better they allow some to pass. It is funny that Bitcoin future is trading but no ETF allowed, it should be the opposite, to allow ETF first before the future.

I agree, the order is wrong, but it is determined by the interests of the bankers and speculators, maybe they think with future they can make more profits.

[HeRetiK]

Better they allow some to pass. It is funny that Bitcoin future is trading but no ETF allowed, it should be the opposite, to allow ETF first before the future.

It sounds kinda silly but starts to make sense once you take a closer look at it: Futures are mostly traded by financial professionals and almost always high risk. ETFs are mostly traded by the general public and institutional investors who assume a much lower risk than people trading derivatives. As such the regulations on ETFs have to be far more stringent than with Futures, regardless of Bitcoin's involvement.

[creeps]

No one is going to buy with this news anymore. People now are wise enough to understand that these proposals won't cause any hype anymore at this moment unless there's a real demand.

People are getting wise but for sure newbies will still go with this kind of hype. Maybe the SEC decision will still matter for some big investors but I do agree that this ETF can’t hype much the market anymore. Though this can still be a good opportunity for us but its better not to assume anymore unless there’s a final decision with the ETF.

[asdlolciterquit]

i have a co-related question: where can i find info about this 9 etfs? i mean, what kind of etfs are? are there some short etf?

thank you!

[ahmad21]

Hope this good news will add positive trading volume to all cryptocurrency, The Securities and Exchange Commission (SEC) has set a late October deadline to begin reviewing proposed rule changes that would allow several regulated exchange operators to list bitcoin ETF products on their trading platforms.
source of this news  https://www.ccn.com/resurrection-sec-to-begin-reviewing-9-rejected-bitcoin-etfs/

I'm sorry but I don't think it will bring any impact on the current price. Its just a review and nothing more. They have rejected everyone so I'm sure that we will get the same results here. I'm not against any ETF, it has both advantage and disadvantages, however, those who are in line for review is no different from each other, it still doesn't answer the universal question that SEC has been asking for "how can they prevent the market from being manipulated?

Although it is just a review as you said, but what I think is smallest of a thing has to have an impact on the market rates of the crypto coins. Crypto coins are very volatile and fluctuate with due to any FUD that is being created in the market.

Better they allow some to pass. It is funny that Bitcoin future is trading but no ETF allowed, it should be the opposite, to allow ETF first before the future.

Kinda weird it is, what I think! Allowing opposite ETF first and then future, doesn't sound reasonably logical!!

[cellard]

Hope this good news will add positive trading volume to all cryptocurrency, The Securities and Exchange Commission (SEC) has set a late October deadline to begin reviewing proposed rule changes that would allow several regulated exchange operators to list bitcoin ETF products on their trading platforms.
source of this news  https://www.ccn.com/resurrection-sec-to-begin-reviewing-9-rejected-bitcoin-etfs/

I'm sorry but I don't think it will bring any impact on the current price. Its just a review and nothing more. They have rejected everyone so I'm sure that we will get the same results here. I'm not against any ETF, it has both advantage and disadvantages, however, those who are in line for review is no different from each other, it still doesn't answer the universal question that SEC has been asking for "how can they prevent the market from being manipulated?

I don't really see an ETF being officially approved before 2019, perhaps even 2020 or even 2021. These bureaucratic things take ages, which is why I don't really care about the ETF, I can't really take this seriously, I mean, if it's not actual bitcoins traded it's a bit of a joke to me but whatever. I cannot negate that it will have an impact on the price (a positive one).

At the same time we have BAKKT around the corner, which basically does the same thing as ETF as far as im concerned, without the endless queue for approval on SEC's side. I can't wait to see what it does to the price, I think it was coming this November. If it pumps Tone Vays and other shorts may get rekt bigly.

[bryant.coleman]

i have a co-related question: where can i find info about this 9 etfs? i mean, what kind of etfs are? are there some short etf?

thank you!

Two ETFs were proposed by ProShares and a further two were proposed by GraniteShares. The largest batch of 5 ETFs were proposed by Direxion. There were plans for some more like Guggenheim and IndexIQ. 

[Gozie51]

Could this be as a result of the current stable price that we have seen if at all. The price have been less volatile and I'm thinking it also might be connected... Just an opinion too.