SEC Bitcoin ETF Decision - Yea or Nay?

[CoinClarity]

This was supposed to be the #1 catalyst of upward trajectory in an otherwise poopy year for the price of BTC. As we all know (or may not know), all 9 Bitcoin ETF applications were rejected by the SEC thus far, and after a delayed re-evaluation on the matter they pushed back their final decision announcement until today, November 5th.

https://www.coindesk.com/vaneck-and-solidx-unfazed-by-the-secs-latest-bitcoin-etf-delay/

https://bitcoinexchangeguide.com/sec-bitcoin-etf-approval-decision-for-9-different-exchange-trade-funds-to-happen-next-few-days/

So let's do some speculating on the outcome before hand as there are only but a few hours to go.

(Edit: updated for 2019)

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[Pursuer]

the first time I heard about bitcoin ETF I believe was 1-2 years ago. SEC rejected it then and from that time until today nothing about bitcoin and the market has changed at all. and most of the reasons they used to reject that ETF are still applicable for any subsequent ETFs that came out and they kept rejecting them.

they will probably postpone it more if they have not yet reached the maximum deadline, otherwise rejection is guaranteed.

also I should mention that with or without ETF price would have fallen and then entered this same stable phase that we are currently in. the price levels might have been different but the overall trend and how the chart looks like now for the past year would have been the same.

[jseverson]

From what I can tell, it seems like the most popular opinion is that it's going to be delayed again to February 2019. Who knows though. I personally don't think they're going to be approved, delay or not. Market manipulation seems to be a big issue, one that doesn't look like it's going to go away anytime soon.

[timotron]

Still people talking about this?
I was thinking no one cares anymore.


I don't believe it is going to be approved in the next months, or years. I would rather bet on XRP or BCH to get this approval 

[CoinClarity]

Still people talking about this?
I was thinking no one cares anymore.

Today is the last day to care, at least for a while.

I don't believe it is going to be approved in the next months, or years. I would rather bet on XRP or BCH to get this approval 

Why? They are essentially the same thing except several magnitudes smaller in terms of size, usage or importance. That's like saying a Palladium ETF should be approved before a Gold ETF.

[sinkfish]

ETF will continue to delay until the cant hold it anymore. or they need crypto to bail out US.

[enhu]

ETF delayed is ETF denied.

They won't approve it. Think of it like ETF delayed is ETF denied. They won't just give up the control to the people who holds more BTC than the government. If they will approve Bitcoin ETF, they would have to approve the ETH application soon and all other that will apply after it. Approving means they accept crypto to be real asset, these will lead the old market to its death.

[jseverson]

If they will approve Bitcoin ETF, they would have to approve the ETH application soon and all other that will apply after it.

That's not necessarily true, and that wouldn't be a good reason for them to shoot it down. The Bitcoin market is the only thing in consideration, with Ethereum's market situation being very different. They aren't the same fundamentally either, so they would have to be treated as distinct assets.

A lot of their concerns would also be amplified when applied to Ethereum's, or pretty much every altcoin's market -- they're easier to manipulate because they're smaller, they're more volatile, etc.

[coin-investor]

Many are saying it will not, I think with so many delays of the approval, people are losing hope and trust that it will eventually be rejected I am also losing hope on the situation, anyway, we are ten years here without it so we just have to live with it and move on.

[Harlot]

It got postponed and push back from September to October and from October to November I wouldn't be surprised if they move it to another month or so. This only tells us that they are not rushing things nor they are giving any importance with the topic, as if they did they have gone out with a decision already. Maybe they are also postponing it because they are putting some timing in the market already, with a lot of major markets entering into a correction timing for a decision especially if it is a negative one will have to wait.

[PETES]

If they will approve Bitcoin ETF, they would have to approve the ETH application soon and all other that will apply after it.

Taken from the fact that if the bitcoin ETF gets an approval, it will trigger the market to rise and in return the altcoins will follow.
Having alts to also apply for ETF is just a crappy idea since they just depend on bitcoin's trend, I hope its devs have some brains.

Though I don't see ETF good for bitcoin but for the price matter, it will be.

[keanne_isaac]

This was supposed to be the #1 catalyst of upward trajectory in an otherwise poopy year for the price of BTC. As we all know (or may not know), all 9 Bitcoin ETF applications were rejected by the SEC thus far, and after a delayed re-evaluation on the matter they pushed back their final decision announcement until today, November 5th.

https://www.coindesk.com/vaneck-and-solidx-unfazed-by-the-secs-latest-bitcoin-etf-delay/

https://bitcoinexchangeguide.com/sec-bitcoin-etf-approval-decision-for-9-different-exchange-trade-funds-to-happen-next-few-days/

So let's do some speculating on the outcome before hand as there are only but a few hours to go.

In my own opinion SEC would reject or push another months or quarter to study the ETF they want to ensure that what ever decision they may decided it would be for the benefit of financial institutions that wouldn't affect fiat currency and economy as whole. But I'm confident that the approval would be granted but it takes more time to wait.

[CryptopreneurBrainboss]

On your next poll consider adding a default option. something like "Don't care" because that's actually how I feel about the whole ETF issue. Just as the user ETFbitcoin said,

What bitcoin need is legality as currency (or at least payment method) where people have full access of their coins, not ETF where bitcoin only can be used as investment to be and investor have no control over their coins.

  ETF is a centralized feature, so does bitcoin truly needs it? I mean we all say we want power in our hands yet we give it away the second we receive it. We should concentrate more on getting bitcoin legalized as a currency instead of an investment.

[enhu]

If they will approve Bitcoin ETF, they would have to approve the ETH application soon and all other that will apply after it.

Taken from the fact that if the bitcoin ETF gets an approval, it will trigger the market to rise and in return the altcoins will follow.
Having alts to also apply for ETF is just a crappy idea since they just depend on bitcoin's trend, I hope its devs have some brains.

Though I don't see ETF good for bitcoin but for the price matter, it will be.

Its not such far fetch. Companies listed on Stock market are now considering of tokenizing their company already if that happen they will also be listed on exchanges. Stock Market itself are even considering to move to blockchain, I've read that somewhere. It will take a life time of hoping it will be approved but tell you the price of BTC will go up even without ETF.

[rumexx]

The ETF policy takes about 250 days to materialized I think SEC is playing with the announcement to make sure that the specified date is met and it is sacrosanct. We can be expecting the positive announcement on ETF -SEC around February 2019. I know it will come out positive and the effect will be massive on bitcoin market.

[aioc]

It's long been delayed and they keep delaying it I don't know how much long are they going to delay,I stopped hoping it will get approved you will just get disappointed if you keep watching the date of their decision, with or without those decision I will continue to be a part of cryptocurrency.

[CoinClarity]

On your next poll consider adding a neutral choice something like "Don't care" because that's actually how I feel about the whole ETF issue. Just as the user ETFbitcoin said,

What bitcoin need is legality as currency (or at least payment method) where people have full access of their coins, not ETF where bitcoin only can be used as investment to be and investor have no control over their coins.

"Don't care" is too much of a default option.

And its weird that the guy you are quoting's name is ETFbitcoin and he's unironically anti-ETF. That's the whole point of any ETF -- be able to trade the price of something without actually having to own any of it.

[qiwoman2]

I doubt this year we will see any ETF unless they decide to give a green light to the CBOE ETF in December, I think personally they will not until next year, but then again you might get a different result when everyone expects the opposite. Big institutions have been buying Bitcoin and other big alts over the counter so they might want to pump them to their clients in the new year or after the Chinese new year. I don't see any bitcoin or altcoin pump over the Xmas holidays when all the whales want to take out their profits for their big yacht parties. Don't expect anything fantastic to happen in 2018, this year has been a crappy one at best.

[NeuroticFish]

This was supposed to be the #1 catalyst of upward trajectory in an otherwise poopy year for the price of BTC.

Some ETF denials dropped the price, some did't have any effect. So I would not bet my money onto ETF approval as bull trend catalyst, not anymore. If it'll happen, OK, but if it doesn't, it's also OK.
Maybe we should start thinking on a correct, slow growth instead of a speculative bubble.

[dewildance]

I don't think the SEC can decide. There will be a further delay. As far as I know, US legal regulations are inadequate for Bitcoin. Maybe there is a need for an improvement first.