SEC delays decision on ETF again, Vaneck, SolidX withdraw proposal

[Wind_FURY]

Shower thought. It's the institutional investors/whalecumulators that's controlling the SEC to keep delaying the approval because they want as much coin supply in their custody before 6 digit FOMO, then approve ETF, then let the plebs hold only the ETFs, and the private keys are always under whalecumulator control.

[bbc.reporter]

Another delay by the SEC. However, Tom Lee's prediction of an all time high of $25k might become true on the day before the approval of the SEC's deadline day, October 18. I speculate that it might be the last of the delays.

They keep on delaying it and won't be surprised if by the final deadline, they will declare another delay and extension.

Are we still considering it as something big? well it's kind of big if it will be approved but we're too tired of it. I'd guess that we're focusing now with the bull run with or without these ETF approvals.

Agreed. The market did not react negatively when the announcement of the delay was made. This might be the beginning of the disbelief on the U.S. goverment's influence over the cryptospace. I also hope that Bitfinex will win versus the New York attorney general's office to show everyone that they cannot do anything to us with all their power hehehe.

[thecodebear]

Shower thought. It's the institutional investors/whalecumulators that's controlling the SEC to keep delaying the approval because they want as much coin supply in their custody before 6 digit FOMO, then approve ETF, then let the plebs hold only the ETFs, and the private keys are always under whalecumulator control.

I think it is more that the SEC simply won't approve an ETF until Wall St has built up some bitcoin infrastructure, since that is what the SEC considers "regulated'. In the end it means the same thing as what you're saying, ETF probably won't be approved until institutional investors have accumulated a decent amount of coins using the infrastructure they've built for themselves. This is starting now (Fidelity, BAKKT) but I think the SEC will wait for more to be built up before it considers the market regulated enough.

I'd put the likelihood of an ETF approval this year at a very low chance. A year from now though there should be a young but budding bitcoin industry operating on Wall St so I'd put the likelihood of ETF in 2020 at like 40%. I doubt SEC will first approve an ETF during a bear market or near the late bull mania phase, and since the bull market will probably peak and then start to crash in 2021, I think 2021 might actually not be too likely if an ETF hasn't already happened. So if it doesn't happen in 2020 or perhaps early 2021 if the bull run hasn't gotten too crazy by then, I think we'll be waiting until 2022 or 2023 at which time they will definitely approve an ETF. But who knows!

[ene1980]

Agreed. The market did not react negatively when the announcement of the delay was made. This might be the beginning of the disbelief on the U.S. goverment's influence over the cryptospace. I also hope that Bitfinex will win versus the New York attorney general's office to show everyone that they cannot do anything to us with all their power hehehe.

It was expected that they will delay it once again, there was a time when the market would rally when the ETF decision was fast approaching and then die down on hearing that they rejected the proposal, now the market is tired of it and we very well know that the decision will not be coming this time too even though there were talks that they would accept them this time, no one wanted to trust on that news alone and the market has grown outside of those news.

[Supercrypt]

Another delay by the SEC. However, Tom Lee's prediction of an all time high of $25k might become true on the day before the approval of the SEC's deadline day, October 18. I speculate that it might be the last of the delays.

They keep on delaying it and won't be surprised if by the final deadline, they will declare another delay and extension.

Are we still considering it as something big? well it's kind of big if it will be approved but we're too tired of it. I'd guess that we're focusing now with the bull run with or without these ETF approvals.

Agreed. The market did not react negatively when the announcement of the delay was made. This might be the beginning of the disbelief on the U.S. goverment's influence over the cryptospace. I also hope that Bitfinex will win versus the New York attorney general's office to show everyone that they cannot do anything to us with all their power hehehe.

This is not a centralized system that every decision they make will have effect over the market, the only way they can have any effect over the market indirectly is through news, so whatever comes from them verbally either creates FUD news or Cause FOMO and this is just simply based on the mentality of people.

Inreal life, I don’t think any decision they make will practically have any much effect on the cryptocurrency market. There are so many things that have happened greater than SEC and still didn’t have any negative effect on BTC.  This crypto market strictly depends on the number of adoption and adoption is more than what SEC can even facilitate.

[bbc.reporter]

Agreed. The market did not react negatively when the announcement of the delay was made. This might be the beginning of the disbelief on the U.S. goverment's influence over the cryptospace. I also hope that Bitfinex will win versus the New York attorney general's office to show everyone that they cannot do anything to us with all their power hehehe.

It was expected that they will delay it once again, there was a time when the market would rally when the ETF decision was fast approaching and then die down on hearing that they rejected the proposal, now the market is tired of it and we very well know that the decision will not be coming this time too even though there were talks that they would accept them this time, no one wanted to trust on that news alone and the market has grown outside of those news.

In that case, I reckon the regulators might finally approve it on October because the intended effect of the rejection on the market is not working anymore hehehe.

[Distinctin]

Agreed. The market did not react negatively when the announcement of the delay was made. This might be the beginning of the disbelief on the U.S. goverment's influence over the cryptospace. I also hope that Bitfinex will win versus the New York attorney general's office to show everyone that they cannot do anything to us with all their power hehehe.

It was expected that they will delay it once again, there was a time when the market would rally when the ETF decision was fast approaching and then die down on hearing that they rejected the proposal, now the market is tired of it and we very well know that the decision will not be coming this time too even though there were talks that they would accept them this time, no one wanted to trust on that news alone and the market has grown outside of those news.

In that case, I reckon the regulators might finally approve it on October because the intended effect of the rejection on the market is not working anymore hehehe.

I don't think so, could be this October or another year to come. We are nowhere to see ETF's approval, we can't say that they are not working on it but they don't have concrete evidence that proves the real existence of crypto and the doubts of many still holding for their decision. They need support from the community but it is too sad that some of them say "NO".

[Black_bl]

The SEC approval is still only one step, it takes many months after the approved proposal once ETF will go live. All of ETFs will be rejected and maybe Vaneck one, thanks to the smart trick will succeed next year or 2020. However the impact of Vaneck ETF will by very limited, or you think that average Joe has equivalent of 25btc to buy a share of the ETF? Why minimum is 25 btc? Because Vaneck used this trick to persuade SEC that they won't have to be worried about average Joe as he will never be able to invest in this ETF because of the huge minimum order. At the end, Vaneck's arguments in the propasal are very similar despite to a play with words. No companies which sent proposals are capable to provide hundreds thousands of bitcoins as insurance and "persuade" the SEC.

[BitHodler]

In that case, I reckon the regulators might finally approve it on October because the intended effect of the rejection on the market is not working anymore hehehe.

The SEC has clearly stated its concerns. I'm sure they don't feel any pressure when it comes to approving or rejecting this ETF. It's just another task on their list they have to check off.

I am 99% sure that the SEC will reject it, but there is a chance that the proposal will be withdrawn by CBOE so that they afterwards can submit an improved version of it. It's still a waste of time in my book.

The fundamentals of the market as a whole haven't changed at all, where all the Tether fud isn't doing the CBOE a favor either. What if we crash back to $3000 again? Think the SEC will ignore that?

Look at the price, we went up a lot without all the ETF nonsense. We clearly don't need these tools to pump.

[dat.ho12492]

Agreed. The market did not react negatively when the announcement of the delay was made. This might be the beginning of the disbelief on the U.S. goverment's influence over the cryptospace. I also hope that Bitfinex will win versus the New York attorney general's office to show everyone that they cannot do anything to us with all their power hehehe.

It was expected that they will delay it once again, there was a time when the market would rally when the ETF decision was fast approaching and then die down on hearing that they rejected the proposal, now the market is tired of it and we very well know that the decision will not be coming this time too even though there were talks that they would accept them this time, no one wanted to trust on that news alone and the market has grown outside of those news.

In that case, I reckon the regulators might finally approve it on October because the intended effect of the rejection on the market is not working anymore hehehe.

I don't think so, could be this October or another year to come. We are nowhere to see ETF's approval, we can't say that they are not working on it but they don't have concrete evidence that proves the real existence of crypto and the doubts of many still holding for their decision. They need support from the community but it is too sad that some of them say "NO".

I don't think so, I don't believe in the existence of ETF because this information has begun to appear for a long time but until now, we still only see the delay of the SEC, more precisely, the ETF to this point is just a tool to change market trends, it does not bring too much meaning to users or support crypto and bitcoin. What the ETF offers is just a panic and hope in vain, instead of continuing to think and analyze ETF, we should work on market trends, it will bring more benefits.

[cepot9]

they are just always bullshit, and actually we don't really need ETF anymore if they don't do it right away. because I believe this market will continue to grow as in previous years without ETF.

[Distinctin]

they are just always bullshit, and actually we don't really need ETF anymore if they don't do it right away. because I believe this market will continue to grow as in previous years without ETF.

We are not thinking that ETF doesn't have a place in crypto,  yet it have some importance and we want to know if it is effective to the run the market free from scamming activities. But we are too tired and not believing to be approved by SEC.
Maybe you are right,  we don't need it anymore if that ETF will only make a disatrous changes to the system. And it seems to favorable to us to have this kind of market without  ETF.

[Adriano2010]

Even without ETF the market grow and i think will continue grow even if again is some drop, the price will grow if people will start buy and new people will join crypto world.

[omonuyak]

they are just always bullshit, and actually we don't really need ETF anymore if they don't do it right away. because I believe this market will continue to grow as in previous years without ETF.

ETF or no ETF I strongly believe that bitcoin is going to grow in some months to come. This ETF approvals application has affected bitcoin more than we think and if we really want to make progress in cryptocurrencies development then we have to keep this ETF issues aside and focus of bitcoin and Cryptocurrency to be adopted by the society and not approval by some government agencies.

[ethereumhunter]

I am not surprised if SEC delays ETF again because that is happening in many times. Bitcoin doesn't need ETF, and the price will increase after all, even if they delay the decision. There is a time for people to buy more bitcoin while the price is low, and the price will get high. I think many people still waiting for the SEC decision, but I don't know if they still waiting or not because SEC still delays until now.

[beerlover]

I am not surprised if SEC delays ETF again because that is happening in many times. Bitcoin doesn't need ETF, and the price will increase after all, even if they delay the decision. There is a time for people to buy more bitcoin while the price is low, and the price will get high. I think many people still waiting for the SEC decision, but I don't know if they still waiting or not because SEC still delays until now.

I think that we caught wind of what SEC has been trying to do. We have seen too many delays so far and we know that delays do not mean anything anymore. That is why the last time it was delayed the price didn't even care and now we are going up without SEC as well. Which means if it gets delayed again then price will not fall down and if it gets accepted somehow the price will continue to go up, meaning there is absolutely no scenario where bitcoin gets down.

Maybe if it gets rejected eventually but I feel like if they were going to reject it they would have done it long ago, they are just looking to approve it but want to make sure it won't create too much issues so they are looking into every bit of details to make sure they won't be held viable if something bad happens before they actually accept it.

[jademaxsuy]

There are now trading exchanges basing on US now operates following the ETF rules and regulations. Thus, it encourage more US citizens to join and invest or trade in the exchange. It is just like stock market exchange that people trade and exchange currency to profit. Usually the dollar currency is the usual trading pairs in every currency all around the world.

If this could really be true since I was only reading the blog or article to which now I could.not trace back then for sure cryptocurrency will go strong.

[ukloon]

These SEC nabs are just going to keep delaying the decision until they themselves have accumulated enough bitcoin and their crony buddies too. After that they will simply give the green signal and watch their investments fly

[1Referee]

There are now trading exchanges basing on US now operates following the ETF rules and regulations.

The few compliant exchanges within the US aren't enough to satisfy the SEC. Asia is what the SEC is concerned about, because that's where most of the unregulated exchanges come from, and they are a significant contributing factor to the demand that steers Bitcoin.

I would say that when US based legacy institutions start offering Bitcoin trading, that the odds of an approval will actually increase significantly. Now the odds are either stagnant or falling back down due to volume manipulation and all the drama that's happening over at Tether and Bitfinex. We're not booking any progress yet, and that has to change.

[batang_bitcoin]

These SEC nabs are just going to keep delaying the decision until they themselves have accumulated enough bitcoin and their crony buddies too. After that they will simply give the green signal and watch their investments fly

Looks legit, I've recently read an article that says they 'may soon approve' bitcoin ETF. I forgot the article's link but I can't be sure if that's for real or just another hype maker so that people will FOMO. Bitcoin ETF doesn't really matter anymore, forget about it so if it gets approved, fine and if not, still doesn't matter. It has been a long time since these proposals has been sent although the first ones were declined but I think they will actually soon consider it.