sec consider new bitcoin and ethereum ETF

[bitmover]

https://cointelegraph.com/news/sec-to-consider-new-bitcoin-and-ethereum-exchange-traded-fund-application

United States regulator, the Securities and Exchange Commission (SEC), is reviewing a new application for a cryptocurrency exchange-traded fund (ETF), documents released on May 9 show.

The product comes courtesy of Crescent Crypto Index Services, a subsidiary of benchmarking and passive index investing firm Crescent Crypto Asset Management.

It would include a portfolio of both bitcoin (BTC) and ether (ETH), and be active on the New York Stock Exchange (NYSE) under the “XBET” ticker.

“XBET is an exchange traded fund. This means that most investors who decide to buy or sell shares of XBET place their trade orders through their brokers and may incur customary brokerage commissions and charges,” the filing confirms. 

In a bull market every news is good news.
A new life is coming to the cryptocurrency ecosystem, and etf may be finally coming. An ethereum ETF would also be amazing , what could trigger a new ico crazy. This time I will stay away and keep only eth and BTC

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[peter0425]

When we are in a bull run, there's a lot of positive news coming around. So this news is very welcoming indeed. Imagine if this so called ETF's will be approved soon, I'm sure that the market will explode. But then again, we have to wait for the decision, as it might take months or years before we even have a chance to see an approval.

[BrewMaster]

this is not even a news in my opinion
SEC has lost its newsworthiness after denying the first 100 ETFs and the 1001st ETF is not going to be a "positive news", it is automatically another rejection added to the list.
besides this one includes ETH ETF so it is guaranteed to be denied.

[Slow death]

The SEC will not accept some bitcoin ETF or some ETH ETF while crypto is not a legalized market by governments so we have to forget these ETFs. People have lost their hopes of seeing some ETF bitcoin being approved months ago and no longer believe in the possibility of approving some ETF and this can see because when you talk about ETF it does not change the prices because as I said nobody else is worried about these ETFs

[rdbase]

Last time there was news of an etf for bitcoin it got shotdown and the market fell flat with it.
Best to have no news about any etf so to keep the momentum going until we are at all time high levels again.

[1Referee]

If the CBOE Bitcoin ETF proposal isn't going to be approved, then the inferior other proposals by default don't stand a chance.

Submitting an ETF proposal is something that isn't special on its own, neither that the SEC will look into it.

An ethereum ETF would also be amazing , what could trigger a new ico crazy. This time I will stay away and keep only eth and BTC

An ICO craze will result in innocent people filling the pockets of scammers. Ethereum ETF? No thank you.

[LeGaulois]

I'm not even sure if ETF will finally have something positive to Bitcoin. People don't care anymore about it. Only people already in crypto do and not because they're interested in an ETF but because they hope the Bitcoin value increase. BTC ETF is a flop dead before born.

[ryzaadit]

Consider the application of the ETF ? And just make another announcement the application was rejected, then make the market on a bad position again. All the people already getting boring about these, They already don't care anymore about ETF rightnow. To be honest, I also not hope too much about the ETF right now, I believe cryptocurrency have their own world.

[omonuyak]

I'm not even sure if ETF will finally have something positive to Bitcoin. People don't care anymore about it. Only people already in crypto do and not because they're interested in an ETF but because they hope the Bitcoin value increase. BTC ETF is a flop dead before born.

Etf should add something very positive to bitcoin and ethereum!  Before now when ETF disapproval's news do hit the cryptocurrencies market , bitcoin and cryptocurrencies market do witnessed big lose and because of this I  do believe that if it is finally approve it should influence bitcoin and ethereum price too.

[dothebeats]

Eh, stimulating the market yet again only to ultimately deny what they initially "reconsidered." This is a load of bull from the SEC and I don't think people are still believing whatever they release in regards to ETFs as they have initially rejected tons of applications that may have served the market in quite a great fashion. Well, the much awaited Bakkt is still in the sidelines as this is all happening, and even that has been lost into the oblivion and the media attention after the initial fund raising, too.

[exstasie]

https://cointelegraph.com/news/sec-to-consider-new-bitcoin-and-ethereum-exchange-traded-fund-application

United States regulator, the Securities and Exchange Commission (SEC), is reviewing a new application for a cryptocurrency exchange-traded fund (ETF), documents released on May 9 show.

The product comes courtesy of Crescent Crypto Index Services, a subsidiary of benchmarking and passive index investing firm Crescent Crypto Asset Management.

It would include a portfolio of both bitcoin (BTC) and ether (ETH), and be active on the New York Stock Exchange (NYSE) under the “XBET” ticker.

“XBET is an exchange traded fund. This means that most investors who decide to buy or sell shares of XBET place their trade orders through their brokers and may incur customary brokerage commissions and charges,” the filing confirms. 

In a bull market every news is good news.
A new life is coming to the cryptocurrency ecosystem, and etf may be finally coming. An ethereum ETF would also be amazing , what could trigger a new ico crazy. This time I will stay away and keep only eth and BTC

What makes you think this one has a better chance of getting approved than all the past applications?

The CFTC is putting BAKKT through the wringer and the SEC has rejected every application put before them. That includes applications from the likes of CBOE and VanEck.

Who the hell is "Crescent Crypto" anyway?

[Baofeng]

I'm not even sure if ETF will finally have something positive to Bitcoin. People don't care anymore about it. Only people already in crypto do and not because they're interested in an ETF but because they hope the Bitcoin value increase. BTC ETF is a flop dead before born.

This. Almost everyone here are tired hearing this ETF's proposal because we all know that SEC will just shoot down that idea. What makes it worst though is that they keep on delaying and prolonging the agony. But crypto enthusiast are very wise not to wait for the approval anymore because they know that SEC will reject it, it doesn't matter who are the people or institution behind applying for ETF's.

[Gozie51]

The thing I actually want to see happen is the approval of ETH ETF  This will really be a good news for altcoin, etheruem platform coins. It will also bring a very stiff competition for bitcoin. That will speedily get the approval of btc done afterwards.

[WinslowIII]

https://cointelegraph.com/news/sec-to-consider-new-bitcoin-and-ethereum-exchange-traded-fund-application

United States regulator, the Securities and Exchange Commission (SEC), is reviewing a new application for a cryptocurrency exchange-traded fund (ETF), documents released on May 9 show.

The product comes courtesy of Crescent Crypto Index Services, a subsidiary of benchmarking and passive index investing firm Crescent Crypto Asset Management.

It would include a portfolio of both bitcoin (BTC) and ether (ETH), and be active on the New York Stock Exchange (NYSE) under the “XBET” ticker.

“XBET is an exchange traded fund. This means that most investors who decide to buy or sell shares of XBET place their trade orders through their brokers and may incur customary brokerage commissions and charges,” the filing confirms. 

In a bull market every news is good news.
A new life is coming to the cryptocurrency ecosystem, and etf may be finally coming. An ethereum ETF would also be amazing , what could trigger a new ico crazy. This time I will stay away and keep only eth and BTC

I don't see another ico craze, way too many people lost their asses and way too many governments are watching for these scams. Without scam icos, what purpose do ethereum gas tokens serve is my question. Why even hold that shit? Litecoin seems to be a better coin to hold than ethereum because it seems to have a purpose.

[pooya87]

ETF right now is like China, nobody gives a shit about it anymore but they can keep coming up with new ETFs just like they keep coming up with new China banned bitcoin. at this point it is just noise in the background going ignored.

Litecoin seems to be a better coin to hold than ethereum because it seems to have a purpose.

none of the altcoins that were created so far are worth holding because none of them have any long term potential. they are either crappy centralized coins like ethereum or have some supply (inflation) problems or both.

[WinslowIII]

ETF right now is like China, nobody gives a shit about it anymore but they can keep coming up with new ETFs just like they keep coming up with new China banned bitcoin. at this point it is just noise in the background going ignored.

Litecoin seems to be a better coin to hold than ethereum because it seems to have a purpose.

none of the altcoins that were created so far are worth holding because none of them have any long term potential. they are either crappy centralized coins like ethereum or have some supply (inflation) problems or both.

Well, I don't hold any altcoins but litecoin as stupid as it is makes more sense to me than fucking ethereum, which had it's day in the sun but wtf is it worth now that it's ico scams are gone?

[sunsilk]

I'm totally off with ICOs or IEOs and won't have that feeling to rush of investing with any of them. I'm also focused of keeping eth, few alts and btc for the meanwhile, it's the safest choice for this bull run.

And when we all talk about ETF, people are already disappointed with the decision that SEC is giving. They keep on delaying it as if the people has been excited most of the time. Before we were but for now, not anymore but if at least this will be pushed and would come into reality, it's still a good news.

[Ipwich]

I thought we already forget about the ETF, people's focus now is on the bull run.
Since OP stated that every news is a good news, this one is not already relevant as we already have good news in the market.
What is more relevant to us that would probably make the value of bitcoin to rise more is the application approval.

Even the bad news will not stop the bull run, Binance hack which is a big bad news did not affect the market.

[Yaunfitda]

I thought we already forget about the ETF, people's focus now is on the bull run.
Since OP stated that every news is a good news, this one is not already relevant as we already have good news in the market.
What is more relevant to us that would probably make the value of bitcoin to rise more is the application approval.

Even the bad news will not stop the bull run, Binance hack which is a big bad news did not affect the market.

Yes, we have move forward with this idea of having a ETF approval. It's not in our hand, better to focus on more important things that we can influence like the current bull run.

I remember the Bitfinex hacked years ago, more than what Binance lost but the bull run didn't stop, history repeating itself?

[Indrawan77]

People are tired of sec and etf things, they just playing around with crypto but never intended to apply it, so nobody really care anymore even without etf the price has been rising and people are comfortable with the price and usage, the interference of etf will disrupt the market balance and cause unnecessary disturbance