SEC Bitcoin ETF Decision - Yea or Nay?

[levvv]

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.

Lol, do you think they will decide it today? I bet they will postpone about their decision again. They are waiting for the audiences response about bitcoin ETF.
But if btc ETF approved, it will surely become a catalyst for bull market because the bull market has not yet come this year.

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[metalglowd]

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.

Even though the SEC fully accepts ETFs, this may only eliminate the essence of bitcoin and crypto, the origin of which is "decentralized". If etf is accepted, I am sure, bitcoin will later become centralized and it will be no different from the current Bank system

[shamc]

Bitcoin needs the etf to become better established, there are plenty of alts like Monero that can be used for private purposes outside the use of banks and prying eyes

[101nowby]

The solution already exists, we will hear it later. A lot of rumors roam on Twitter.
Rumors are not born from scratch

[LFC_Bitcoin]

- today's deadline is for public statements on the SEC's review of the rejected ETFs
- the SEC has no deadline to finish that review
- the VanEck/SolidX deadline is Dec. 29 with possible delay to Feb. 27

[Wingleness]

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.

I've decided not to be perturbed with the whole SEC and ETF situation because it's still gonna be dragged for bit while. It's high time investors understand that this situation will keep dragging for a long time to come.

[Burogh]

I am believe soon or later ETF will approved. Investment Institution like Goldman Sachs already make bitcoin trading desk and i think its attracing more investor to invest in bitcoin. SEC will approve it because many bitcoin demand

[CoinClarity]

- today's deadline is for public statements on the SEC's review of the rejected ETFs
- the SEC has no deadline to finish that review
- the VanEck/SolidX deadline is Dec. 29 with possible delay to Feb. 27

Hmm guess a lot of the media got it wrong then, myself included.

https://www.blockchainreporter.net/2018/11/05/sec-decision-on-bitcoin-etf-will-not-be-announced-on-november-5/

[pooya87]

SEC has been playing with ETF for more than a year now and each time they keep postponing their decision on the big proposals as long as they can and eventually they end up rejecting it. and all the while some people in bitcoin community seem to be hung up on their decision for some reason to see what will happen!
i think eventually they will accept ETF but soon after the same people will realize that they were waiting for something not only useless but possibly even harmful to bitcoin future.

[qiman]

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.

I agree with this statement, trying to rely on one piece of news to hold the whole market to ransom is not a good idea, but the shorters play on this kind of news and if the news is negative, they will immediately use their bearish sentiment and short Bitcoin and other altcoins to take their profits for the week. They have bled this market dry over the last year and also the pump groups at work also have taken a stake in this. Whether ETF is approved or not today, we most likely will get bearish sentiment out of it.

[cabron]

- today's deadline is for public statements on the SEC's review of the rejected ETFs
- the SEC has no deadline to finish that review
- the VanEck/SolidX deadline is Dec. 29 with possible delay to Feb. 27

I think they will keep declining it forever so we could just keep hanging on. Declined and declined while they still kept reviewing is just a bullshit hear breaking lie for the hopeful. By feb 27, they will again postponed the decision to move it to next year. You think they are waiting for something for instance an exchange they own that they can monitor users?

[Casdinyard]

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.

Well yeah, that will be more realistic than having a bubble, isn't it?
So 2017 is just a bubble of cryptos and 2018 is the real face of cryptos.
I'm wondering what's next for 2019.

Tbh, etf issues has getting to my nerves, maybe we should let this issue dies so whales won't get the idea again to use this to manipulate the price. This issue is so old and pettish.

[fommes86]

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.

Totally agree 

Why do people hype a possible Bitcoin ETF? I would say because of greed and FOMO 

By the way, in my opinion there are already better solutions than a Bitcoin ETF approved by the SEC. What do you think about as CTIs (Crypto Traded Indices) or Crypto Trackers? 

One good approach is in my opinion trakx, condensed down they are building Crypto Trackers, which ar an easy-to-use, low cost, and efficient way to take part in the cryptocurrency market by investing in the crypto currency market as a whole, or in a select basket, instead of just focusing on Bitcoin alone. This will most definitely mean higher gain potential but as well better diversification. By the usage of smart contracts Crypto Trackers enable a no trust investment vehicle.

Disclaimer: I am not affiliated with them, I just take part in their bounty program, but I don't share my referral link here.

[nikola22]

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 

first Bitcoin ETF must appear in mid 2019 so it's a waste of time to wait the approval in 2018. and this means that the price of bitcoin will not grow fast.

[fommes86]

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 

first Bitcoin ETF must appear in mid 2019 so it's a waste of time to wait the approval in 2018. and this means that the price of bitcoin will not grow fast.

Did I miss something? Who or where do you know from that anytime 2019 there MUST  be approved a Bitcoin ETF? Do I read the wrong news:
https://cryptodaily.co.uk/2018/11/why-we-might-be-waiting-a-while-for-the-bitcoin-etf/

[ice18]

I really believe that its not time for etf now but I hope next year especially in quarter 1 a new bitcoin etf will be approved and this one is really bullish to bitcoin this might be the new bull run we are all waiting for after the bear market in this year. If this happens more and more money will enter the world of crypto especially bitcoin.   

[Kprawn]

I am mistified in this matter, a motnh ago I red that 26 of October is the last date of several proposals but recenlty - 5th Novemeber.
in anycase havent seen any big news on the matter , it seems that market does not care and thats a good thing.

I personally dont see this happening any time soon, SEC resaons for rejctions were clear.

They will continue postponing their decision, until they can come up with a proper excuse to deny all applications. I seriously

think this will never happen and they knew this from the start. Some people on the inside know this, but they are making tons

of profit on the hype that are built around this.    Just write off your hopes for this and continue as normal without it. 

[fommes86]

They will continue postponing their decision, until they can come up with a proper excuse to deny all applications. I seriously

think this will never happen and they knew this from the start. Some people on the inside know this, but they are making tons

of profit on the hype that are built around this.    Just write off your hopes for this and continue as normal without it.  

I completely agree with you.

Why should the SEC approve a Bitcoin ETF, since Bitcoin is seen as the enemy of the traditional financial sector. Yes, they invest heavily in blockchain technology, but not to give a decentralized peer to peer money system to the common people   They rather would like to build a highly centralized "blockchain" that they can fully control and on top of that they want to charge the people for all that, just like they do today. And still there are lots of people who hope for the Bitcoin ETF to become reality already tomorrow. Yes, sure, you want to make 1000x on your investment fast  

If you still believe the Bitcoin ETF rumors, I have an other thought you should consider: do you really think people who regulate the stock market and know where the gains are will give you the big gains while they themselves are not invested. The Bitcoin will not be approved before Wallstreet is able to get his share in the cake because they always want to make a killing  

[Conasse]

Only one has the potential to be accepted from the SEC but I don't think it will happen so soon. The market needs a lot more stability and sanitizing before we can see a "light of hope".

[gentlemand]

100% Nay.

Even if they loved the idea, and presumably they do not, there's simply no way to make it fit within their remit. The only people who are in a hurry about this are us lot. No one else cares or wants it. 

My guess is that there'll be other ways for the money we're fantasizing about here to get in, Bakkt is an obvious one, until by the unlikely time an ETF did arrive it would barely be worth remarking on.