Bakkt delays their launch

[pooya87]

I predict that there might be no ETF approved until the 2nd half of 2019. It might be approved on October or November then scheduled for a December 2019 launch.

unless you think there is going to be strict bitcoin regulations in US and more compliant exchanges that work with 3 letter US agencies then i don't see SEC approving any ETFs anytime soon. as gentle said above, bitcoin is still the same bitcoin as it was back when they rejected the first bitcoin ETF proposal. if they accept an ETF at this point then it means 90% of the reasons they listed for rejecting that were lies!

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[exstasie]

I predict that there might be no ETF approved until the 2nd half of 2019. It might be approved on October or November then scheduled for a December 2019 launch.

What makes you think any ETF will be approved this time around? I'm 99% convinced any application is toast for the foreseeable future. There's going to have to be a vast amount of change for the SEC to consider it. Nothing in essence has changed since the first Winklevoss denial and SEC staff have been getting ever louder about why they're not keen.

There'll have to be a new generation of applications a long way down the line.  

I tend to agree. It could take several years and there might be a whole new set of commissioners by the time it happens. People around here don't realize that it can take several years for an ETF to get approved in the U.S. even with regular everyday commodities. With that in mind, Bitcoin is a whole new asset class they can barely wrap their head around.

Under the best of circumstances, my guess is 2021. It'd be great if it lined up with the next bubble.

[adaseb]

The issues with the ETF are serious however and most don't take the time to understand them.

Right now, it doesn't take much to move the market one way or another. There are easy ways of manipulating certain markets like ETH or BTC with little buying/selling power.

If they approved an ETF, and everybody bought into it with their 401K and life savings. Then some whale decided to go 100x on Bitmex and cause a huge 20%-50% over the course of a week or two. Many people would be upset and they would complain to the SEC about price manipulation.

Only ETF I can see getting approved anytime soon was that one that required a min. purchase of $25K or so which only was meant for institutionals and not retail traders.

[GregH37]

I predict that there might be no ETF approved until the 2nd half of 2019. It might be approved on October or November then scheduled for a December 2019 launch.

unless you think there is going to be strict bitcoin regulations in US and more compliant exchanges that work with 3 letter US agencies then i don't see SEC approving any ETFs anytime soon. as gentle said above, bitcoin is still the same bitcoin as it was back when they rejected the first bitcoin ETF proposal. if they accept an ETF at this point then it means 90% of the reasons they listed for rejecting that were lies!

I doubt Bakkt would open up their doors just yet before SEC gives out a ruling. As soon as SEC decides that ETF is allowed they will start but before that it would be really reckless to start their own ETF without a real decision made from the part of the government that could really give them a penalty they could not afford even if they profit for a whole year.

Hence instead of risking a penalty or something worse they will wait out the SEC and move accordingly. That's at least the smart thing to do but I don't know what they will do, maybe they will move before SEC to get the bulk of the investors early on so they don't have to try to get market share they will have to not lose market share and believe me not losing market share is easier than getting market share.

[figmentofmyass]

I doubt Bakkt would open up their doors just yet before SEC gives out a ruling. As soon as SEC decides that ETF is allowed they will start but before that it would be really reckless to start their own ETF without a real decision made from the part of the government that could really give them a penalty they could not afford even if they profit for a whole year.

bakkt has nothing to do with an ETF. they're launching products like futures contracts, which are regulated by the CFTC and not the SEC. if anything, bakkt is hoping the ETF gets denied so they have less competition in the physically backed derivatives market.

i'm guessing we'll see bakkt launch in february or march, and the ETF will be denied.

[arpon11]

I hope bakkt is not turning to another ETF? Keep postponing in other to create panic and dumping of the market!  The micro investors are the one suffering from this manipulations and games.  However,  this is a sign that ETF and bakkt will become things of the past and the whales will bring another ways of influencing the market.  I could remember when nor farming pay roll was used to move usd/gob to upwards movement or downwards movements but now thing has changed and forex don't reacting to some of news  like before.

[Wind_FURY]

I hope bakkt is not turning to another ETF? Keep postponing in other to create panic and dumping of the market!

Yes, thanks to the whalecummulators, they will keep it up for as long as they want.

The micro investors are the one suffering from this manipulations and games.

Hahaha. Also known as the "plebs".

However,  this is a sign that ETF and bakkt will become things of the past and the whales will bring another ways of influencing the market.

Only if the whalecummulators have made enough from the plebs' stupidity.

What to do? Buy the dip, and hold, especially while Bitcoin's price is this low. Frustrate them.

[BrewMaster]

I hope bakkt is not turning to another ETF? Keep postponing in other to create panic and dumping of the market!

Yes, thanks to the whalecummulators, they will keep it up for as long as they want.

this has always been a big plague that bitcoin has been struggling with for years now. and the worst part of it is the repetition of the same exact trend over and over again!
it is basically a re-distribution of bitcoin from whales pockets to other traders pocket but only IF the rest of the market stops being so chicken about it and start accumulating at cheap prices instead of panic selling.
but many don't seem to want to learn and keep on making the same mistakes of selling cheap at the bottom instead!

[bbc.reporter]

I predict that there might be no ETF approved until the 2nd half of 2019. It might be approved on October or November then scheduled for a December 2019 launch.

What makes you think any ETF will be approved this time around? I'm 99% convinced any application is toast for the foreseeable future. There's going to have to be a vast amount of change for the SEC to consider it. Nothing in essence has changed since the first Winklevoss denial and SEC staff have been getting ever louder about why they're not keen.

There'll have to be a new generation of applications a long way down the line.  

I reckon the corrupt system, made of politicians and their monarchs in the banking system, will be looking for another investment scam similar to what they made that caused the housing bubble.

I speculate that there will also be an Ethereum ETF which would appear that the regulators who approved it do not care if the project behind it is working or not.