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Author Topic: [2019-5-14] SEC Again Delays Decision on Bitwise Bitcoin ETF Approval  (Read 107 times)
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May 15, 2019, 01:02:54 AM
 #1

The U.S. Securities and Exchange Commission (SEC) again delayed a decision on whether to approve or reject a bitcoin exchange-traded fund (ETF) on Tuesday.

In a new document published by the SEC, the regulator said it would hold off on making a decision on the Bitwise ETF proposal filed with NYSE Arca.

...

Read more : https://www.coindesk.com/sec-again-delays-decision-on-bitwise-bitcoin-etf-approval
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May 15, 2019, 06:25:52 AM
 #2

It was expected I believe. SEC always delay their decision until the last time and then most of the time they'll reject it, citing that it's prone to manipulation and so on.

Who knows when will they finally approve any ETF proposal. Regardless of this news, the market shows good growth. ETH is now trading above $220 and the rest of tokens follows it too. Imagine if SEC approves the ETF, maybe Bitcoin will skyrocket to $15k really soon.


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May 15, 2019, 06:36:33 AM
 #3

It was expected I believe. SEC always delay their decision until the last time and then most of the time they'll reject it, citing that it's prone to manipulation and so on. Who knows when will they finally approve any ETF proposal. Regardless of this news, the market shows good growth. ETH is now trading above $220 and the rest of tokens follows it too. Imagine if SEC approves the ETF, maybe Bitcoin will skyrocket to $15k really soon.

I guess the rejection this time is not causing any havoc in the marketplace unlike in the past. I am sure the market will largely ignore this decision as it is clear that ETF is not necessary for the Bitcoin to do the bull run dance. The developments on BAKKT is enough for now though of course we are still dreaming for the ETF approval nevertheless. In case Bitcoin can cross the $10,000 level this month, it is now clear that we are in a big bull run and usually bad news are not given their weight at this stage.

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May 15, 2019, 06:54:46 AM
 #4

Whatever happens with the etf at least we know that bakkt is going to happen within the next two months. This alone will catapult bitcoin to new highs

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May 15, 2019, 10:37:03 AM
 #5

It was expected I believe. SEC always delay their decision until the last time and then most of the time they'll reject it, citing that it's prone to manipulation and so on.

Who knows when will they finally approve any ETF proposal. Regardless of this news, the market shows good growth. ETH is now trading above $220 and the rest of tokens follows it too. Imagine if SEC approves the ETF, maybe Bitcoin will skyrocket to $15k really soon.


Nothing new the decision of security and exchange commision is always delay. Actually its okay nothing effect for crypto that delaying strategy right now bitcoin still strong stable without SEC approval.

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May 15, 2019, 10:55:16 AM
 #6

Whatever happens with the etf at least we know that bakkt is going to happen within the next two months. This alone will catapult bitcoin to new highs
It's not sure yet. The CFTC will not allow them to go live without Bakkt having dealt with the storage of Bitcoin. Bakkt's recents acquisition won't change much about it because not enough time has passed to comfort them.

It's a daring move from ICE to open up, but one that potentially might end badly. I'm sure that this move is the result of the improving market sentiment they want to tap into so that they can ride the bull run up further.

Launching during a bear market with very low demand would make them look like a failure. Interesting to follow for sure.

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May 15, 2019, 11:50:49 AM
 #7

The U.S. Securities and Exchange Commission (SEC) again delayed a decision on whether to approve or reject a bitcoin exchange-traded fund (ETF) on Tuesday.

In a new document published by the SEC, the regulator said it would hold off on making a decision on the Bitwise ETF proposal filed with NYSE Arca.

...

Read more : https://www.coindesk.com/sec-again-delays-decision-on-bitwise-bitcoin-etf-approval

The SEC is about to postpone all bitcoin ETF decisions for the next 20 years minimum.
I imagine how this forum still exists in 2040 and a bunch of old crypto fans still argue about bitcoin being ETF approved or not by the SEC. Grin

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May 15, 2019, 01:10:57 PM
 #8

With the delays I am seeing for more than a year now on Bitcoin related ETFs I am starting to wonder if the SEC is just purposely denying and extending the deadline and that they are just following on one of their higher ups above them. Because this isn't the SEC I know who acts quickly when it involves around their Stock Market or even their Money Market. Add a lot more extensions than I think it will just confirm what I am saying that they really don't have any interest on having a Bitcoin ETF or someone else is just telling them to do so.

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May 15, 2019, 05:08:15 PM
 #9

With the delays I am seeing for more than a year now on Bitcoin related ETFs I am starting to wonder if the SEC is just purposely denying and extending the deadline and that they are just following on one of their higher ups above them.
They aren't purposely denying/delaying decisions. It's a $4.5 trillion ETF market that the SEC guards, and Bitcoin hasn't done anything to show why it should be allowed to be part of that market. How it works is that the SEC has a list with requirements, where each deadline allows the filler to meat their requirements, and they fail time on time again.

One aspect that plays a very important role, and the fillers can't do anything about, is what's going in the ecosystem around Bitcoin. The fake exchange volumes and Tether drama isn't helping at all.

Because this isn't the SEC I know who acts quickly when it involves around their Stock Market or even their Money Market.
The SEC has always been very slow. There is a priority queue where large fishes have front row seats and the smaller fishes wait somewhere in the back.

The same applies to the CFTC and Bakkt. Bakkt isn't important enough to allocate a whole lot of time and effort to.

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May 15, 2019, 08:58:51 PM
 #10

It was expected I believe. SEC always delay their decision until the last time and then most of the time they'll reject it, citing that it's prone to manipulation and so on. Who knows when will they finally approve any ETF proposal. Regardless of this news, the market shows good growth. ETH is now trading above $220 and the rest of tokens follows it too. Imagine if SEC approves the ETF, maybe Bitcoin will skyrocket to $15k really soon.

I guess the rejection this time is not causing any havoc in the marketplace unlike in the past. I am sure the market will largely ignore this decision as it is clear that ETF is not necessary for the Bitcoin to do the bull run dance. The developments on BAKKT is enough for now though of course we are still dreaming for the ETF approval nevertheless. In case Bitcoin can cross the $10,000 level this month, it is now clear that we are in a big bull run and usually bad news are not given their weight at this stage.
Public is already done with these ETF delays when it comes to approval and it really seems that theres no such impact on the price yet we are already sitting out on $8k level without the tendency on having reverse price direction but i cant really deny that we do need this ETF approvals even some people say that this isnt really necessary but having these things boost up or add up positive things which would contribute for btc on reaching new heights.



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May 16, 2019, 09:09:51 AM
 #11

The U.S. Securities and Exchange Commission (SEC) again delayed a decision on whether to approve or reject a bitcoin exchange-traded fund (ETF) on Tuesday.

In a new document published by the SEC, the regulator said it would hold off on making a decision on the Bitwise ETF proposal filed with NYSE Arca.

...

Read more : https://www.coindesk.com/sec-again-delays-decision-on-bitwise-bitcoin-etf-approval

I believe that the main reason for these reproaches and postponements is because the crypto market is a market that is not legalized by the governments, I do not know if exist 5 countries in the world that have made laws on cryptos and in those same countries cryptos are legal. what happens is that many countries allow the use of cryptos, but without law about cryptos. this lack of laws is a embarrasment for many things. For example in the case of exchanges, exchanges do not have licenses issued by governments of such exchange origins, which means that many exchanges have no inspection by the exchange's home government.

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May 16, 2019, 08:40:17 PM
 #12

It's no problem, bitcoin is already rocketing in price even without the ETF. It hit 20k last time with less infrastructure and less institutional involvement. Later, when bitcoin hits 20k, the SEC will grant their approval and it will push up to 100k

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