Bitcoin ETF is finally here?

[creeps]

This is indeed a good news right? ETF will be launch on London stock exchange, the most anticipated news this year the ETF!

https://www.coindesk.com/a-blockchain-etf-is-launching-on-the-london-stock-exchange-today

Do you really see a big impact for this one? Well, i do and I know a news like this will matter. More ETF to come for sure so be ready for the future pump.

Also a great qoute from the CEO of Elwood Bin Ren said: “We believe the potential for blockchain to change the global economy is greatly underappreciated in today’s market, much like the internet was in the beginning, when most people couldn’t see past its usefulness for email.”

 For the past 10yrs of Bitcoin, still many are on doubt but this qoute should able you to see the true colors cryptocurrency, start taking risk and live better.

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[Pursuer]

ETF in US which is determined by US-SEC is the most hyped up thing in bitcoin world otherwise ETF itself means nothing at all. if you do some search you can clearly see that other countries have already approved some ETFs for instance I know of Japan which already have approved an ETF, there is Canada, and if I am not mistaken Sweden already has it or were considering its approval and was very close.

[Dreamchaser21]

ETF in US which is determined by US-SEC is the most hyped up thing in bitcoin world otherwise ETF itself means nothing at all. if you do some search you can clearly see that other countries have already approved some ETFs for instance I know of Japan which already have approved an ETF, there is Canada, and if I am not mistaken Sweden already has it or were considering its approval and was very close.

I agree, its the most hyped ETF but I think a progress like this can also impact the market knowing that European countries are making moves to help the market up. This is a real challenge for cryptomarket, since USA is still a big factor so therefore the project developer should do their best so the US government will finally approve the proposed ETF.     

[avikz]

Ok! so before it becomes cluttered with many posts, lets dive into a very important question!

The question - Is it going to be a physical ETF or a synthetic one?

To find the answer, I visited the website of Elwood Asset Management LLP and looked into their press release dated 11 March, 2019. The press release says,

The ETF aims to deliver the performance of the Elwood Blockchain Global Equity Index by physically investing in the index constituents. The index offers exposure to
global companies in developed and emerging markets that participate or have the potential to participate in the blockchain ecosystem. It is designed to evolve with the
potential growth of blockchain technology.

So from the above paragraph, it is incorrect to say the Elwood is releasing a Bitcoin ETF and the company itself says that, they are launching "Blockchain ETF". They have no plan to invest in physical cryptos in any way. Rather, they are going to invest in blockchain related businesses. So don't bank on this because no impact comes to the crypto market. Read the press release from the below link,

https://elwoodam.com/press/

Thanks!
 

[dothebeats]

ETF in US which is determined by US-SEC is the most hyped up thing in bitcoin world otherwise ETF itself means nothing at all. if you do some search you can clearly see that other countries have already approved some ETFs for instance I know of Japan which already have approved an ETF, there is Canada, and if I am not mistaken Sweden already has it or were considering its approval and was very close.

US-based ETFs are nothing but hype trains. Due to the Wall Street being in close proximity with the ETF presenters, this becomes a huge news because institutional money is believed to have been involved in the process thus fueling the next bull run. I don't think though that ETFs alone would be an enough catalyst for the next run; it would play its part but certainly wouldn't fill all roles.

[crwth]

As we all know, there are a lot of people trying to get Bitcoin to be an ETF. It could bring a significant impact if it happens. Knowing that it's going to start in the London exchange that you are talking about, and I think it's different from the US-SEC that everyone wants. As stated from the posts above.

If it is approved, the most awaited one, it would be a big impact since it would be a big turn point towards the cryptocurrency space and a lot of people would be more fruitful if it were to happen. As I have read from Quora, it would be a bridge towards big-time investors and the cryptocurrency.


This is the specific link where I read it: https://www.quora.com/What-will-happen-if-Bitcoin-ETFs-become-approved

[Onuohakk]

This is quite a good news cryptocurrency enthusiast has actually been waiting for this sort of news for a while now.
Am very optimistic that this would improve the sector tremendously

[enhu]

There is not much excitements going on after is being announced today. No one seem to be panic buying. I think the idea that people can just buy certification about owning BTC isn't quite helping the market.  It doesn't mean a bid in the market but just a paper. Its no wonder we lose the excitement. Countries like Russia are already making some regulations about crypto which is more exciting.

[bitbunnny]

This is quite a good news cryptocurrency enthusiast has actually been waiting for this sort of news for a while now.
Am very optimistic that this would improve the sector tremendously

Plenty of countries have ETFs, it won't be a big deal and I'm pretty sure this one is just investing in a mix of crypto companies and not the coin directly.

Exactly and unlike many others I don't expect some big and significant changes. Many have expectations from ETF that are not real and can't happen over night. The effect on market is yet to see but like I said I don't expect anything on a big scale or long term.

[esetop01tryba]

I heard that in Australia, too, support ETF. Bitcoin in my opinion will achieve great heights in the future. It is supported all over the world and I believe that it will not stop. This is my personal opinion.

[franky1]

the ETF of the OP is not a 'bitcoin etf'

its a ETF where the portfolio asset is not actually bitcoin
its a ETF where the portfolio asset is not actually anycoin/token

its a ETF where the portfolio asset is shares of other companies with loose ties to crypto

[CryptoBry]

ETF in US which is determined by US-SEC is the most hyped up thing in bitcoin world otherwise ETF itself means nothing at all. if you do some search you can clearly see that other countries have already approved some ETFs for instance I know of Japan which already have approved an ETF, there is Canada, and if I am not mistaken Sweden already has it or were considering its approval and was very close.

I have the same feeling with this ETF thing. In fact, I doubt if once the USA SEC will eventually approve an ETF application if that can really make a big bang on Bitcoin in the long term. Maybe if that ETF can mean more strong demand for Bitcoin then maybe it can have a big impact but otherwise then it can just another stimuli that will not last for months. We need more market demand and we need more applications -- practical applications using Bitcoin related to eCommerce and anything else.

[proTECH77]

I heard that in Australia, too, support ETF. Bitcoin in my opinion will achieve great heights in the future. It is supported all over the world and I believe that it will not stop. This is my personal opinion.

ETF Australia and others haven't net positive impact on crypto market, we should be waiting to see that of the US Government which by approval will create a possible bull run in the entire crypto ecosystem. Although these ETF are good news for the general well being of the cryptocurrency world, and must be appreciated.

[gantez]

This is a good news with London ETF approval. This is a gradual process even though some people are talking more of US-SEC but if the London is real then it will be a matter of time because it will set a precedence for etf.

[socks435]

Don't expect too much on Bitcoin ETF it won't give big impact in bitcoin price. Everything in bitcoin depends on demand and supply. So if bitcoin become trending again the price may increase again.

The best time that we should wait is block halving. I'm not believe on Bitcoin ETF most of the crypto holder don't want to approve this because they don't want to track their investment.

[HODL2090]

As we all know, there are a lot of people trying to get Bitcoin to be an ETF. It could bring a significant impact if it happens.

There may be ulterior motives for those passing bills for the launch of one ETF or the other. Hence some of the concerns raised by the SEC about possible manipulations.
In ETF attracting institutional investors, I believe we already have them in the current market through over the counter trades.
ETF would be a plus but not so much of an impact on the value.

[vv181]

Do you really see a big impact for this one? Well, i do and I know a news like this will matter. More ETF to come for sure so be ready for the future pump.

It will not make a significant impact. I'm the kind of person that pretty much doesn't care too much about ETF. However doesn't completely bullshitting it since if we look in broader perspective actually, it has some kind of influence in the cryptocurrency market and adoption process.

In another side, People are completely missing the point of Bitcoin nature's and technologies. therefore I'd hope the majority that the ETF process will trigger mainstream curiosity to learn more about Bitcoin.

[Wildwest]

The news is pretty good too, because for now the bitcoin has started to emerge, the impact of the increase, although not as high as it is important, has not dropped again and is at least stable. I also look forward to the good news from the next ETF about bitcoin and blockhain

[omonuyak]

That a great and good news and that means bitcoin is about to get pump and make significant upwards movement in some days and months to come.  This ETF has been postponed several times and if it is approve now I believe it will influence the price positively.

[Leonardo7]

How I wish this was by the US-leg SEC that did approve ETF, I believe by now, the whole market would have been green. a massive buying would have been taking.