Another attempt at Bitcoin ETF..You knew it was coming once BTC raised above ATH

[rdbase]

Looks like Vaneck is proposing another go at getting an ETF approved by the SEC and they just might get it since the recent wins by them against ripple and getting major exchanges to delist their tokens.


I think it gives them a sense of power of basically destroying xrp and any collaborations they once had with their backers.
https://www.irishtimes.com/business/technology/revolut-warns-that-cryptocurrency-xrp-could-become-worthless-1.4449821

Anyways, back to the news at hand..
https://markets.businessinsider.com/currencies/news/bitcoin-etf-could-finally-become-a-reality-in-2021-after-vaneck-filing-2020-12-1029926923
https://www.coindesk.com/vaneck-proposes-bitcoin-etf-again

Even Anthony Scaramucci is getting into the act.

https://www.thinkadvisor.com/2021/01/04/skybridge-capital-launches-bitcoin-fund-vaneck-tries-again-for-a-bitcoin-etf/
Never heard of skybridge before and must of created it seeing when bitcoin mooned in the last couple of months and wanted a piece of the action on cashing in on it's success.
A bitcoin fund?

[1715342747]

1715342747

[1715342747]

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[BrewMaster]

i don't think it has anything to do with the current price action because they (among others) have been trying to get SEC to approve their ETF for a very long time. it seems like they try at least once a year if not more. they did it even when price was falling in 2018 and 2019 and haven't given up yet.
it is interesting that US keeps rejecting ETFs while the rest of the world is already celebrating the anniversary of their ETFs.

[OcTradism]

i don't think it has anything to do with the current price action because they (among others) have been trying to get SEC to approve their ETF for a very long time. it seems like they try at least once a year if not more. they did it even when price was falling in 2018 and 2019 and haven't given up yet.
it is interesting that US keeps rejecting ETFs while the rest of the world is already celebrating the anniversary of their ETFs.

SEC news were used to raise or sink bitcoin price in 2017 to 2019. People used to think that SEC approval, disapproval, posititve or negative decisions will help bitcoin grows more or will kill bitcoin.

What was demonstrated by the market? Bitcoin fell because of bear market and rose because of bull market. In different market, SEC news have different things to do with bitcoin price action.

Obviously, the new attempt at Bitcoin ETF is absolutely a positive new.

[kryptqnick]

These ETF request denials happened so many times that I don't expect anything different from the SEC anymore. I don't know what's the main drive behind the price growth right now (I'm guessing it's FOMO), but I don't think such proposals are related to it. If anything, another denied request might trigger the collapse of the price (I think it happened before), even though it doesn't really matter IMO. So now is probably not a good time to try again and risk the FUD over the denial to spread and end the bull run swiftly.

[rdbase]

There were three more ETFs waiting for approval from the senate.
This time one of them have to go through since bitcoin has raised in price by 10 fold since the last time they were looking at them.
And the economic situation has changed so drastically with the collapsing of the debt ceiling.

[nelson4lov]

i don't think it has anything to do with the current price action because they (among others) have been trying to get SEC to approve their ETF for a very long time. it seems like they try at least once a year if not more. they did it even when price was falling in 2018 and 2019 and haven't given up yet.
it is interesting that US keeps rejecting ETFs while the rest of the world is already celebrating the anniversary of their ETFs.

For one, I like the fact that they haven't given up the fight against the SEC to get Bitcoin ETF approved. I've been hearing of these ETFs from Vaneck so I don't think it's because of the recent market recovery but it's also good timing as there's positivity in the space at the moment. No matter the number of times the SEC will reject these ETF proposals, I'm sure one day they will approve of it. Can't wait for that day.

[TimeTeller]

i don't think it has anything to do with the current price action because they (among others) have been trying to get SEC to approve their ETF for a very long time. it seems like they try at least once a year if not more. they did it even when price was falling in 2018 and 2019 and haven't given up yet.
it is interesting that US keeps rejecting ETFs while the rest of the world is already celebrating the anniversary of their ETFs.

For one, I like the fact that they haven't given up the fight against the SEC to get Bitcoin ETF approved. I've been hearing of these ETFs from Vaneck so I don't think it's because of the recent market recovery but it's also good timing as there's positivity in the space at the moment. No matter the number of times the SEC will reject these ETF proposals, I'm sure one day they will approve of it. Can't wait for that day.

And that day, maybe they finally realized that bitcoin will survive even without their intervention.
Because right now, we are seeing that bitcoin is already doing great even without their approval of this bitcoin ETF.
I am on the side that we will really see this in the traditional market exchanges in the very near future.
I also believe that it is only a matter of time before we see that day. And once it happens, I guess, the value of bitcoin will further boost its worth in the market.

[avikz]

Unrelated to price really! But I am particularly excited about VanEck's proposition because they had a plan to launch physical bitcoin backed ETF. And probably that's one of the reasons why their proposal is getting rejected over and over again by SEC. But if they finally get the approval to launch bitcoin ETF, that might become another trigger point in the market.

But really I don't have high hopes this time as well especially after getting rejected so many times. Possible SEC is acting under some influence! Who knows!

[amishmanish]

--snip--
I think it gives them a sense of power of basically destroying xrp and any collaborations they once had with their backers.
https://www.irishtimes.com/business/technology/revolut-warns-that-cryptocurrency-xrp-could-become-worthless-1.4449821

People confusing Bitcoin with scams like XRP may well be the reason that SEC is taking so long on regulatory clarity. For example, if one talks about cryptocurrencies, then BTC is really the only one with PoW and zero central leadership such that it can be identified as a new entity.

The Cacth-22 in front of SEC may well be about what to do with bullshit like XRP where some "Foundation" gave itself 60 Billion pre-mined coins and has been selling them to retail buyers since then with active support from centralized exchanges. I think they really want to set the record straight when it comes to "Satoshi's inventions" and these copies that were simply scams supported by slick marketing and bagholders who find these of value.

They have to tread that fine line between corporate coins and actual cryptocurrencies.

[rdbase]

--snip--
I think it gives them a sense of power of basically destroying xrp and any collaborations they once had with their backers.
https://www.irishtimes.com/business/technology/revolut-warns-that-cryptocurrency-xrp-could-become-worthless-1.4449821

People confusing Bitcoin with scams like XRP may well be the reason that SEC is taking so long on regulatory clarity. For example, if one talks about cryptocurrencies, then BTC is really the only one with PoW and zero central leadership such that it can be identified as a new entity.

The Cacth-22 in front of SEC may well be about what to do with bullshit like XRP where some "Foundation" gave itself 60 Billion pre-mined coins and has been selling them to retail buyers since then with active support from centralized exchanges. I think they really want to set the record straight when it comes to "Satoshi's inventions" and these copies that were simply scams supported by slick marketing and bagholders who find these of value.

They have to tread that fine line between corporate coins and actual cryptocurrencies.

This is exactly why it is taking so long to secure approval in the US due to SEC seeing what is happening with XRP in the courts.
Deeming them a security and with coins like Shiba-inu rising it's market cap by 170% in a week while having no use case other then for the lawls.
https://investorplace.com/2021/10/shiba-inu-price-predictions-are-white-hot-as-shib-sniffs-out-new-highs

[Lucius]

There were three more ETFs waiting for approval from the senate.

That decision, however, is within the competence of the SEC, not the Senate. Yet the SEC certainly cannot operate without policy influence and will not approve an ETF until it receives a signal from the top.

Unrelated to price really! But I am particularly excited about VanEck's proposition because they had a plan to launch physical bitcoin backed ETF.

All the statements coming from the SEC go in the direction that a physically-backed ETF has very little chance, and that it is more likely that the first ETF will be futures-based. Although many different experts in their reflections have expressed doubts about the possibility of any ETF approved during 2021 - so I hope that people will not be too disappointed if this does not happen.

[nutildah]

I could care less about the Bitcoin ETF at this point, there's so many things out there that are already very similar. If somebody really cared they could invest in those already. But really ETF is just a psycho-trigger for "number go up" and I find that mantra dreadfully boring by now.

If Bitcoin surpasses ATH before the end of year, its because it was time.

[rdbase]

Yes but on the whole world is watching scenario then it would cause more people in the investment sector to keep notice.
And as governments work, they see it passing into senate of it done and dusted then they see uncle sam's seal of approval on it. Also they will have more of a sense of security in using it for their crypto policy bills to pass by those government officials.

[OcTradism]

You can check newly filing and waiting for approval Bitcoin ETFs with List of ETF filings this year in the US(NEW ETF ADDED)

This year is like the year 2017 when Bitcoin Futures made the market hyped in October but the 2 official Bitcoin Future exchanges were launched in December. Bitcoin hit 2017 all time high and after that, well we know, the winter season that lasted in 3 years.

This market is bigger now and with the participation of institutional investors and the growth of blockchain industry, I hope that the market cycle will be shorter, 2 years rather than 4 years. I only hope so.

[rdbase]

Since the price is going up some are mentioning it could be due to the impending approval of this ETF by US regulators.
https://www.reuters.com/business/finance/us-sec-poised-allow-first-bitcoin-futures-etf-bloomberg-news-2021-10-15/
Now there is a difference between the ProShares which is based on the futures market and the one from VanEk.

Major media outlets are stating it could be by Tuesday next week according to CNBC.
https://www.cnbc.com/2021/10/15/bitcoin-etfs-may-finally-make-their-debut-sort-of.html

[rdbase]

With two bitcoin ETF's launching it seems there are limits on these futures:
https://www.bloomberg.com/news/articles/2021-10-21/bitcoin-etf-is-already-in-danger-of-breaching-a-limit-on-futures

The one from valkyrie seems to have no effect as the first one did to the news involved for interest towards these offerings.

[Blawpaw]

Plenty of good news coming out! A lot of ETFs are being prepared to set sail. Not only VanEck, Grayscale also announced it was looking to have NYSE filing a document requesting for their GBTC fund to be converted into an ETF:

https://news.bitcoin.com/grayscale-convert-gbtc-into-bitcoin-etf/

[rdbase]

Plenty of good news coming out! A lot of ETFs are being prepared to set sail. Not only VanEck, Grayscale also announced it was looking to have NYSE filing a document requesting for their GBTC fund to be converted into an ETF:

https://news.bitcoin.com/grayscale-convert-gbtc-into-bitcoin-etf/

I've seen news of Valkyrie wanting to start two or three more ETF's but those are futures.
Are these new ones offered from VanEck and Grayscale ones that are backed by bitcoin?
That seems to be the ones everyone are waiting for from the US.

[franky1]

many bitcoin backed ETF are getting hit by the SEC decision wall.
so some companies are trying to side set the application process with the unbacked-futures version.

to then show proof of concept of meeting policy of different regulations the SEC want.
to then prove the company has the capacity, ability and systems inplace to meet requirements. and then get SEC trust and approval to allow the company to then offer backed assets.

after all the SEC dont wanna give licences to just any random company that has no history of ever handling an ETF

its like brewing beer to prove you can make ethanol to then win a licence to make bio diesel.

[GreatArkansas]

These ETFs are kinda the top signal for Bitcoin? Hmmm, I don't think so, because as I can remember back to 2017-2018, ETFs are starting to pop before, and that's the time we experienced a very long bear run before we broke the old ATH which is $20,000.

But for me this time, it is different, the market is more mature now compare to before that's why even ETF will not be approved, the market is not overreacting.

[OcTradism]

ETFs were too hot in the past and news about ETFs dumped the market when SEC rejected ETFs.

This year, we have first ETF and it can be a start of something big because from chart, history, fractals, the bull run does not top up. ETFs with good news, approval, trading volume can bring more new investors to the market. They will be ones who readily to buy Bitcoin at price above $66,000.

Google trend does not show a new top for Bitcoin search over the globe that is good. When it has a new top, we will see a new higher highs for Bitcoin.

[rdbase]

As Franky1 has said in his thorough explanation a few posts ago,
In due process there will be a complete fully bitcoin backed ETF on the horizon.

To whom it will be awarded to,
That is the unknown.

[rdbase]

Santander bank in Spain is planning to launch it's own bitcoin ETF shortly after the US did.
https://cryptocurrencynewsroom.com/spain-is-preparing-for-the-launch-of-bitcoin-etf-by-banco-santander/

So it seemed to have a domino effect towards other countries to accept bitcoin as a currency.
But then the central bank steps in and wants some regulation imposed before this happens.
https://www.coindesk.com/policy/2021/11/04/spains-central-bank-requesting-financial-institutions-to-outline-crypto-plans-until-2024-report/

[rdbase]

VanEck request for a bitcoin fully backed spot ETF was rejected yet again.
But they are still going for another futures but I think there are way too many already available it would be just diluting their next offering.
https://www.coindesk.com/markets/2021/11/14/vaneck-to-launch-bitcoin-futures-etf-xbtf-next-week-after-sec-rejects-spot-offering/

[Ararbermas]

Because of that ETF for sure there's another opportunity for every scammers out there to fool alot of investors around the internet.. Indeed that's how it start always when someone starts a new way where investors can buy some coins for their investment., for me in my personal opinion i don't know if its necessarily, because bitcoin itself is very safe why need clone or what ever it's.? Lol 

[rdbase]

Because of that ETF for sure there's another opportunity for every scammers out there to fool alot of investors around the internet.. Indeed that's how it start always when someone starts a new way where investors can buy some coins for their investment., for me in my personal opinion i don't know if its necessarily, because bitcoin itself is very safe why need clone or what ever it's.? Lol  

Not possible since these are certified and distributed by the banks themselves.
Anyways, this latest rejection plus the infrastructure bill that included cryptocurrency taxation early in the week was the root cause of a massive drop in the markets, if you hadn't noticed your holdings (if you did hold any of the top cryptos) got severed by 12% off the top.
https://www.cnbc.com/2021/11/15/biden-signing-1-trillion-bipartisan-infrastructure-bill-into-law.html

Here is the main part for those who mine, buy/sell and generally hold any cryptocurrency and are in the states as all exchanges will giving their customers who reside there a tax form every year after this is set and done.

"6. President Biden to sign the bipartisan infrastructure bill⁠ into law
President Biden will sign the $1.2 trillion bipartisan infrastructure bill into law on Monday. The legislation includes tax reporting provisions that apply to digital assets like cryptocurrency and nonfungible tokens, or NFTs.
Cryptocurrency “brokers,” which are mainly exchanges, will be required to issue a 1099-like form disclosing who their customers are. Businesses and exchanges will also be required to report each time they receive over $10,000 in cryptocurrency."
source: https://www.cnbc.com/2021/11/15/crypto-news-updates-infrastructure-bill-to-be-signed-bitcoin-taproot-upgrade.html

[rdbase]

VanEck after the denial of the ETF by SEC.
https://www.forbes.com/sites/lcarrel/2021/11/19/vaneck-bounces-back-after-sec-denial-with-low-cost-bitcoin-futures-etf
They never give up do they?
What is this... their fifth ETF for the futures market in the past year?

[rdbase]

Looking to the North for approval of a bitcoin backed ETF seems to be the norm since the beginning of the year.
https://www.bloomberg.com/news/articles/2021-12-01/fidelity-to-offer-a-bitcoin-etf-in-canada-amid-sec-pushback


Although the one offered by Invesco looks to be more of a lock-in for approval since it is in Germany.
https://cointelegraph.com/news/invesco-launches-spot-bitcoin-etp-on-deutsche-borse

[Leonardo7]

I don't think an average trader thinks much of approve or unaprove ETF. Bitcoin ETF news has always been used to tension traders, but today the market cares less of any ETF just as bitcoin went higher up during the Chinese government crackdown. The Defi market alone is huge enough to keep people busy.

[rdbase]

VanEck has always been the barer of bad news when it comes to getting a stance from the SEC on ETF approval.
https://cointelegraph.com/news/vaneck-s-bitcoin-spot-etf-shunt-solidifies-sec-s-outlook-on-crypto
So maybe they should get the hint and just give up on their attempts and let another give it a try at one to be approved in the States.
I personally think Grayscale can get it done just as a snippet from this article explains:

source: https://cointelegraph.com/news/fidelity-reportedly-launching-spot-bitcoin-etf-in-canada

While the neighbours to the North had theirs approved early on Thursday morning:
https://cointelegraph.com/news/fidelity-canada-officially-launches-bitcoin-etf-and-bitcoin-mutual-fund

[TheGreatPython]

it is interesting that US keeps rejecting ETFs while the rest of the world is already celebrating the anniversary of their ETFs.

If the SEC keeps on refusing to approve such products by issuers on the grounds that it is uncomfortable due to the risk in an unregulated product like the news have said, then it’s going to be quite a problem, because no product is going to be approved. Because most, if not all, of the products are the same thing when it comes how the prices will be (they will keep on fluctuating up and down at all times or simply volatile).

So, this is going to be a really difficult thing to pull out. Maybe they should approve it and just task the projects with clearly explaining cryptocurrency investment to potential investors, so people have knowledge of what they are about to go into.

[rdbase]

it is interesting that US keeps rejecting ETFs while the rest of the world is already celebrating the anniversary of their ETFs.

If the SEC keeps on refusing to approve such products by issuers on the grounds that it is uncomfortable due to the risk in an unregulated product like the news have said, then it’s going to be quite a problem, because no product is going to be approved. Because most, if not all, of the products are the same thing when it comes how the prices will be (they will keep on fluctuating up and down at all times or simply volatile).

So, this is going to be a really difficult thing to pull out. Maybe they should approve it and just task the projects with clearly explaining cryptocurrency investment to potential investors, so people have knowledge of what they are about to go into.

The government opened the house to let crypto CEOs talk infront of them about how important cryptocurrencies were to the future of the US.
Here is the video with a brief description of what it entailed:

https://www.youtube.com/watch?v=w9jvL9HrUjw

So maybe, just maybe this will get a Bitcoin-backed spot ETF approved.

[rdbase]

Today there was over $200 billion liquidated off for bitcoin causing the dump in price not seen since October of last year.
https://www.fxempire.com/news/article/crypto-markets-turn-red-as-200-billion-exits-the-space-857594

Some say is because of the futures market of bitcoin selling off at the signs of the stock market being affected by the current downtrend.
Even corporate entities have weak hands when it comes to cryptocurrency.

[rdbase]

Looks like Grayscale Investments are taking the initiative and going to the SEC with a request on twitter for people to email them directly so to get a bitcoin spot ETF approved:
https://www.bloomberg.com/news/videos/2022-02-22/grayscale-asks-investors-to-approve-spot-bitcoin-etf-video



Last I looked yesterday they had over 200 letters to get their campaign off the ground.

https://twitter.com/Grayscale/status/1496114867799052288
https://twitter.com/Sonnenshein/status/1496182311611686912
More about it can be viewed here:
https://cointelegraph.com/news/grayscale-launches-campaign-to-encourage-public-comments-on-bitcoin-etf-application

[rdbase]

So it was not VanEck. Maybe for the next one.

https://www.coindesk.com/policy/2022/04/06/sec-approves-teucriums-bitcoin-futures-etf/

Still a huge win for cryptocurrency going on the table since the SEC are giving up on trying to go against the companies who are fighting back against them. Ripple Labs have already pretty much won their court case(s) against the securities laws imposed by the United states government.
This will be massive going forward as more companies can now start releasing theirs since the wall has been broken.

[rdbase]

Australia has their own spot ETF coming next week. But still none in the US. What gives?
They have been requesting from SEC for ages while other countries are approving BTC spots left and right.
https://cointelegraph.com/news/australia-s-first-bitcoin-etf-could-attract-1-billion-after-launch-next-week
https://blockworks.co/first-australian-spot-bitcoin-ether-etfs-to-go-live-next-week

What more would it take for them to approve one here?

[ChiBitCTy]

I think it’s inevitable that there will eventually be a Bitcoin ETF. We’ve certainly been hearing about it long enough at this point. I recently read that if it doesn’t get approved that VanEck is thinking about suing the SEC, which would be pretty interesting to see, especially as someone who hates the SEC.

[rdbase]

I think it’s inevitable that there will eventually be a Bitcoin ETF. We’ve certainly been hearing about it long enough at this point. I recently read that if it doesn’t get approved that VanEck is thinking about suing the SEC, which would be pretty interesting to see, especially as someone who hates the SEC.

The SEC have enough in the courts when it comes to cryptocurrencies.
They still haven't finished the case with ripple labs yet so I doubt they want another big name in crypto wanting to sue them.
But with VanEck wanting to go down this route in filing, what makes them think this will expedite the process.
It will more likely hinder their efforts not bring any forward progress to giving them what they want.
But it certainly is strange how governing bodies in Canada and now in Australia have not impeded these Bitcoin spot ETFs in their countries as much where the SEC makes these rules in the US.

[barbara44]

It has been going on for a long time, we have been waiting for proper Bitcoin ETF for a long time and I believe that even if it happens, it will not be a huge deal, it will not be a "now we will be 100k+ easily!!" type of bull run. It is good, it will eventually happen one day and make us all happy, but it is really not a big deal at all.

We are already in crypto itself, we are already buying bitcoin and people are not worried about it too much. Just adding an ETF version of the same thing can't be really that much of a big deal, and those people will not be actually holding their coins, they would be paying someone to hold imaginary versions.

[rdbase]

I think it’s inevitable that there will eventually be a Bitcoin ETF. We’ve certainly been hearing about it long enough at this point. I recently read that if it doesn’t get approved that VanEck is thinking about suing the SEC, which would be pretty interesting to see, especially as someone who hates the SEC.

Over a year later it is in the courts and Grayscale's case against the SEC ruling was put infront of the court with a judge possibly siding against the SEC from the recent occurrences of them dropping the ball on many other cryptocurrency lawsuits put into play.

source: https://cryptoslate.com/judges-question-secs-logic-during-grayscales-first-appeals-hearing

https://cointelegraph.com/news/judges-hear-oral-arguments-in-grayscale-suit-against-sec-over-btc-spot-etf-rejection
https://www.reuters.com/legal/court-set-hear-arguments-grayscales-lawsuit-against-sec-over-bitcoin-fund-2023-03-07

From all these articles it looks to be close to having an approval of a spot ETF even without SEC it being over ruled in the courts.
https://blockworks.co/news/grayscale-appears-to-win-opening-sec

[rdbase]

Interview on CNBC earlier last evening with VanEck bringing up the possibly of another attempt at a spot ETF in the United States.
Very interesting statements said about bitcoin being in it's early stages and now is the time to invest as a rally call to corporate investors right now.

VanEck CEO Says Gold and Bitcoin (BTC) in Early Stages of New Multi-Year Bull Cycles
https://dailyhodl.com/2023/04/05/vaneck-ceo-says-gold-and-bitcoin-btc-in-early-stages-of-new-multi-year-bull-cycles

[Lucius]

ETF is not mentioned anywhere in the text, so regardless of the fact that VanEck is very optimistic when it comes to Bitcoin and gold, I wonder if the big players have already somewhat given up on spot ETFs? In the past years, a lot of dust was raised about this, even though the SEC was very firm in its positions, and somehow it seems to me that this will not change until the people who make the decisions change.

[rdbase]

VanEck only has their eyes set on bringing an ETF to the United States regardless if they mention it or not. It is the underlying reason for them being interested in bitcoin at all. Greyscale and them have spent alot of time fighting with the SEC to get it's approval for several years.
Here is an article which came out last night regarding the current ETFs that have performed better than many other funds over the course of the year:
https://blockworks.co/news/crypto-etfs-blockchain

[rdbase]

ETF is not mentioned anywhere in the text, so regardless of the fact that VanEck is very optimistic when it comes to Bitcoin and gold, I wonder if the big players have already somewhat given up on spot ETFs? In the past years, a lot of dust was raised about this, even though the SEC was very firm in its positions, and somehow it seems to me that this will not change until the people who make the decisions change.

This change you say that has be made first is coming fast and swift with the SEC's chairman getting himself in over his head with these recent court battles.

And to your question highlighted above, it seems that another player in this market has not given up the idea of having a spot ETF in the United States:

https://www.coindesk.com/business/2023/06/15/blackrocks-ishares-files-paperwork-for-spot-bitcoin-etf

https://cryptonews.com/news/blackrock-close-filing-an-application-for-bitcoin-etf-coindesk.htm

After this news was announced it caused all shorts to get liquidated in anticipation of this to spark the bull market.
https://www.coindesk.com/markets/2023/06/16/bitcoin-shorts-lose-16m-as-blackrock-etf-filing-sparks-bullish-outlook

[rdbase]

A interesting article to see what BlackRock is trying to do with this new spot ETF arrangement that after 531 previous attempts this is the one that got approval by the SEC.
https://www.forbes.com/sites/digital-assets/2023/06/15/blackrocks-spot-bitcoin-etf-plan-appears-to-be-a-case-of-perception-bending-reality/?sh=63ff5a714afe

Isn't it a strange occurrence that after the regulation department has run into so many problems and the requesting to have it's head removed by force that they are finally allowing one to be open to the institutional investor?

[rdbase]

Now the rest of those companies which wanted to have a spot ETF available to their customers are flocking in all at once to get registered re-applying to the SEC in hopes to get approval that Blackrock seemed to have secured in the past week of the news coming out in the past 96 hours.
Valkyrie, Invesco and Wisdomtree just to name the most recent ones to put in their applications the last 48 hours.

https://decrypt.co/145566/wisdomtree-invesco-follow-blackrock-with-spot-bitcoin-etf-applications
https://cointelegraph.com/news/valkyrie-submits-btc-spot-etf-application-to-go-with-its-futures-miners-etfs

https://www.bloomberg.com/news/articles/2023-06-20/wisdomtree-files-for-us-spot-bitcoin-etf-on-heels-of-application-by-blackrock

[Reid]

Well, well, well.
https://watcher.guru/news/sec-approves-first-leveraged-bitcoin-futures-etf

SEC Approves First Leveraged Bitcoin Futures ETF

The US Securities and Exchange Commission (SEC) has approved its first leveraged Bitcoin Futures ETF. Moreover, the Volatility Shares’ offering is now the first ETF of its kind to be available in the United States, and it is set to begin trading on Tuesday, according to a Coindesk report.

Then directing to Coindesk link.
https://www.coindesk.com/policy/2023/06/23/leveraged-bitcoin-futures-etf-to-start-trading-tuesday-sponsor-says/
Here is the ETF name and the ticker.
Volatility Shares’ 2x Bitcoin Strategy ETF (BITX)
Then the link to Prospectus.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1884021/000138713123007744/bitx-485bpos_052323.htm


Just looking at it makes me proud as a Bitcoin enthusiast. I mean, this is on another level again and might be another key for Bitcoin to gain value not just because of a billionaire buying it but because everyone can trust it.

[rdbase]

The wait is over and it seemed to rally the markets even for a short time but it is still keeping the level of support above $30,500k which is a welcoming sign from the last couple of months where bitcoin was hovering $4,000 below this amount steadily at $26,500k for the longest time.
That is all the price needed to give it some life once again.

Now more financial institutions are coming in with their own version of a spot bitcoin ETF as Fidelity has filed for their own being the next biggest player in this offering to the corporate investors behind Blackrock.

[Reid]

^I just finished reading about it.

Fidelity may soon file for a spot bitcoin ETF
https://coinjournal.net/news/fidelity-may-soon-file-for-a-spot-bitcoin-etf/

There’s a lot of optimism here that you’re going to get a bitcoin ETF. - Oanda Senior Market Analyst Edward Moya

I remembered my own thought way back before Bitcoin becomes so popular. The first ones to take the risk will be either get broke or will be filthy rich in the future. And I do believe that is going to happen again.

It's just a rumor for now but Fidelity is one hell of a big financial multinational services and once this news is fully accomplished, there may be another bull to come. They already applied for a spot ETF 2 years ago but was denied by SEC (Securities and Exchange Commission). Now they can do that again and I am pretty sure there will be no more wall that will block them.
A wave up will be coming, I don't think this big companies will be the end of it, there are more to come. 

[SquirrelJulietGarden]

It's just a rumor for now but Fidelity is one hell of a big financial multinational services and once this news is fully accomplished, there may be another bull to come. They already applied for a spot ETF 2 years ago but was denied by SEC (Securities and Exchange Commission). Now they can do that again and I am pretty sure there will be no more wall that will block them.
A wave up will be coming, I don't think this big companies will be the end of it, there are more to come. 

SEC won't be able to deny Bitcon Spot ETF applications forever. Their policy will have to be changed by new policies from the USA. government, Congress and new regulations. So SEC. as one of the USA governmental agencies will have to obey regulatory demands from the White House and other higher governmental authorities.

In future, we will have lively Bitcoin Spot ETFs as they will surely be approve in future. Just matter of time, when we will have a first Bitcoin Spot ETF to use.

[rdbase]

Here is an updated table of the current spot bitcoin ETF's waiting for approval:


Ark investments is copying BlackRock's approval process to see if there is any bias towards their application.
Here is a picture to sum it all up:

https://twitter.com/EricBalchunas/status/1674072393399017474

[rdbase]

Wow! Just now there is some news of SEC dumping on bitcoin and it drives the price down by 7% in a matter of an hour.
Just unbelievable how a couple of words from this syndicate which is against bitcoin and it's future can cause so much voatility in the cryptocurrency markets in a short amount of time.

Here is some better side news to view upon an ETF approval in the next month:
"Why approving a Bitcoin ETF might unleash $18B in sell-pressure. Grayscale Bitcoin Trust conversion to an ETF will unlock a potential sale of up to $18 billion in Bitcoin."
source: https://cointelegraph.com/news/bitcoin-etf-approval-billion-dollar-sell-pressure

[thecodebear]

Wow! Just now there is some news of SEC dumping on bitcoin and it drives the price down by 7% in a matter of an hour.
Just unbelievable how a couple of words from this syndicate which is against bitcoin and it's future can cause so much voatility in the cryptocurrency markets in a short amount of time.

Here is some better side news to view upon an ETF approval in the next month:
"Why approving a Bitcoin ETF might unleash $18B in sell-pressure. Grayscale Bitcoin Trust conversion to an ETF will unlock a potential sale of up to $18 billion in Bitcoin."
source: https://cointelegraph.com/news/bitcoin-etf-approval-billion-dollar-sell-pressure

Not surprising at all. It was very confusing why people got so excited about the Blackrock ETF when there was zero chance the SEC was going to approve it. Gensler is in charge of the SEC and he hates the industry and is doing everything in his power to remove it from the US. Accepting a spot ETF would be the opposite of his goals. Unless Congress acts to remove Gensler or redistribute power in the SEC away from the head there won't be any chance of a Bitcoin spot ETF until Gensler is gone in 3-4 years.

Also the price drop isn't surprising either. The price rallied like $5000 on the naive belief that Blackrock had some sort of a chance at getting its ETF approved. Not surprising at all to see a $1000+ drop when reality hits.

Also I wouldn't worry about that $18B sell pressure idea. That's just FUD. Yes once ETFs get approved sometime in the late 2020s, and Grayscale can convert theirs to an ETF, that means people in Grayscale will be able to both buy and sell their shares on the open market (rather than only being able to sell on a secondary market the way the Trust is setup now), but that doesn't mean everyone is going to be selling haha. Anyone who wants out of Grayscale can already sell their shares on the secondary market, Grayscale itself just doesn't sell the actual bitcoin, so its not like all these people are stuck in Grayscale and want out and then when it gets converted to an ETF they will finally all sell. This is a total non-issue. If anything, people who still are in Grayscale at that time, but don't like how the Trust has had a negative NAV for years, may just sell their Grayscale ETF (at that point) to move their money to a different Bitcoin ETF. I don't see any reason there would be any actual sell pressure from this event. Meanwhile, ETF approval would likely mean billions of dollars flooding into bitcoin very quickly. So, again, a non-issue.

[rdbase]

Wow! Just now there is some news of SEC dumping on bitcoin and it drives the price down by 7% in a matter of an hour.
Just unbelievable how a couple of words from this syndicate which is against bitcoin and it's future can cause so much voatility in the cryptocurrency markets in a short amount of time.

Here is some better side news to view upon an ETF approval in the next month:
"Why approving a Bitcoin ETF might unleash $18B in sell-pressure. Grayscale Bitcoin Trust conversion to an ETF will unlock a potential sale of up to $18 billion in Bitcoin."
source: https://cointelegraph.com/news/bitcoin-etf-approval-billion-dollar-sell-pressure

Not surprising at all. It was very confusing why people got so excited about the Blackrock ETF when there was zero chance the SEC was going to approve it. Gensler is in charge of the SEC and he hates the industry and is doing everything in his power to remove it from the US. Accepting a spot ETF would be the opposite of his goals. Unless Congress acts to remove Gensler or redistribute power in the SEC away from the head there won't be any chance of a Bitcoin spot ETF until Gensler is gone in 3-4 years.

Also the price drop isn't surprising either. The price rallied like $5000 on the naive belief that Blackrock had some sort of a chance at getting its ETF approved. Not surprising at all to see a $1000+ drop when reality hits.

Also I wouldn't worry about that $18B sell pressure idea. That's just FUD. Yes once ETFs get approved sometime in the late 2020s, and Grayscale can convert theirs to an ETF, that means people in Grayscale will be able to both buy and sell their shares on the open market (rather than only being able to sell on a secondary market the way the Trust is setup now), but that doesn't mean everyone is going to be selling haha. Anyone who wants out of Grayscale can already sell their shares on the secondary market, Grayscale itself just doesn't sell the actual bitcoin, so its not like all these people are stuck in Grayscale and want out and then when it gets converted to an ETF they will finally all sell. This is a total non-issue. If anything, people who still are in Grayscale at that time, but don't like how the Trust has had a negative NAV for years, may just sell their Grayscale ETF (at that point) to move their money to a different Bitcoin ETF. I don't see any reason there would be any actual sell pressure from this event. Meanwhile, ETF approval would likely mean billions of dollars flooding into bitcoin very quickly. So, again, a non-issue.

About a month ago the U.S congress was trying to pass a motion to have Gensler fired from the SEC started by Ohio State senator Warren Davidson:
https://twitter.com/WarrenDavidson/status/1668340800940556291?s=20
https://twitter.com/WarrenDavidson/status/1668305460368121857
"The time to restore sanity to @SECGov is NOW. #FireGaryGensler"
https://twitter.com/GOPMajorityWhip/status/1668320560869146634

Being the 4th of July would be a perfect day if this were to become a reality.

[Reid]

About a month ago the U.S congress was trying to pass a motion to have Gensler fired from the SEC started by Ohio State senator Warren Davidson:
https://twitter.com/WarrenDavidson/status/1668340800940556291?s=20
https://twitter.com/WarrenDavidson/status/1668305460368121857
"The time to restore sanity to @SECGov is NOW. #FireGaryGensler"
https://twitter.com/GOPMajorityWhip/status/1668320560869146634

Being the 4th of July would be a perfect day if this were to become a reality.

I like this idea.

Davidson's and Emmer's bill would remove Gensler from his position leading the SEC and restructure the commission to redistribute power from the chair to other commissioners, add a sixth commissioner to the body, and create an executive director position to oversee day-to-day operations.

And true, a perfect move for the perfect day.

Gensler appeared exasperated by the question, beginning to answer, "Sir," before being told to respond "yes or no."

"It was not something I was aware of," Gensler answered.

It all came from the link shared in Fox News.
https://www.foxnews.com/politics/house-republicans-introduce-bill-remove-sec-chair-gary-gensler
His answer is fishy. All they ask is a Yes or No but it seems he cannot answer a "No" too but that is where he is going. Maybe they should try adding a "Maybe."
Perhaps this will change the way SEC had been making a mess out of cryptocurrency attacks. The last time was 10+ of cryptocurrencies being charged for something and that includes Binance one of the leading exchanges in the industry.

Back to Bitcon ETF. With the change in SEC leadership, it might also speed up all the incoming applications without the abuser on power.

[rdbase]

August 13th was the scheduled date for the spot bitcoin ETF but many are doubting it will happen and is just the common tactic of the regulatory body to keep delaying it's approval just like they have been for the last few years.

21Shares by ArkInvest are the next in line to come and ask why also to make the statement:
"If the SEC approves a spot #Bitcoin ETF, it will approve more than one at once." - Cathie Wood ceo Ark Invest


Of course doing this would cause a god green candle effect through out the cryptocurrency market.
Will longlast relief in having institutional money set to flood into bitcoin.

[rdbase]

The date of the decision came and went. The only thing which was decided on was that ArkInvest approval for a bitcoin spot ETF was denied.
Not a big surprise with that decision as they were one of the last on the growing list of applicants looking for the SEC to finally make a final statement on it.

Some good news. More like a little light at the end of this long tunnel over the past couple of years:
"Former SEC official John Reed Stark has recently spoken on the current developments and believes that the SEC won’t approve a spot Bitcoin ETF anytime soon. However, he believes that the tides could change post the US Presidential Election 2024."
source: https://coingape.com/sec-official-republican-president-2024-approve-spot-bitcoin-etf

[Reid]

John Reed Stark. He has a long tweet just recently.

https://twitter.com/JohnReedStark/status/1690707913789112320?s=20

And Cointelegraph made an article about it.
https://cointelegraph.com/news/this-scenario-could-see-sec-gary-gensler-resign

John Reed Stark believes SEC chair Gary Gensler could throw in the towel, depending on a possible scenario to play out in 2024.

In an Aug. 13 tweet, the former SEC Office of Internet Enforcement chief predicted that a Republican President could drastically shift the crypto-regulatory tide, including the potential appointment of crypto-friendly Commissioner Hester Peirce to replace Gary Gensler as the agency's chairman.

Let's see how this will turn out.

Republican candidate Ron de Santis said he plans to “protect” Bitcoin and vowed to ban central bank digital currencies (CBDCs) if elected President.

I like this but I do wish this ain't just words from them to get more votes. With the cryptocurrency industry booming they might use it as their weapon to market themselves.

Despite a number of industry heavyweights from the world of traditional finance, such as BlackRock and Fidelity lodging applications for a spot Bitcoin ETF product, Stark believes the SEC will eventually reject all of the outstanding filings.

This connects to the recent news about The Jacobi Bitcoin ETF.

As previously reported by Cointelegraph, the offering was touted as the first spot or physical-backed Bitcoin fund which would allow investors to gain exposure to a financial product that is physically backed by BTC.

https://cointelegraph.com/news/europe-first-bitcoin-etf-hits-euronext-amsterdam-exchange

[rdbase]

Heard about the first spot bitcoin ETF getting approved in the EU just a few hours ago too.
EU’s First Spot Bitcoin ETF Goes Live On EuroNext Amsterdam Exchange
https://cryptonews.com/news/eus-first-spot-bitcoin-etf-goes-live-euronext-amsterdam-exchange.htm

Jacobi Asset management is a London based exchange.
Yet the news didn't budge the bitcoin price one bit after this news broke during the cryptocurrency trading day.

[rdbase]

Some good news today which sent cryptocurrency markets into a frenzy.
https://decrypt.co/154119/grayscale-wins-appeal-against-sec-to-convert-bitcoin-trust-to-etf
Not sure why as it is not an approval yet.

"The SEC and Grayscale have 45 days to appeal Tuesday’s court decision. If that happens, the case could either be sent to the U.S. Supreme Court or be subject to an en banc panel review, where all of the court’s judges would weigh in during a rehearing."

But a win is a win while bitcoin's price was at $25,900 before this news was released then after $27,900 and keeping steady for the time being.

[rdbase]

As soon we get some kind of increase to the bitcoin price and looking like a slight bullrun, something else comes up in the news to take all those gains made in less than a day.
Back down to where we started $25,900.

There is some ETF news for the beginning of a new month starting tomorrow which looks rather bullish so who knows what this will bring to the markets:

https://twitter.com/tier10k/status/1696392472832717259

[Reid]

^Then, Republican Presidential candidate Vivek Ramaswamy also has something to say about that.

https://decrypt.co/154372/vivek-ramaswamy-grayscale-bitcoin-crypto-innovation

“This decision is strong and clears a path to keep Bitcoin and blockchain innovation in the U.S. instead of overseas,”

Everything is going on our side lately when it comes to the judiciary. But SEC seems to be rock solid at being the checkpoint of everything. It's cool that they want the people to have a safe investment but it's getting out of hand that even those with good purposes are being cornered.
I think this will be the start of a spark in the crypto industry and might as well be the start of another bullish run.

Even if this is just a strategy for Vivek's candidacy it's still good news and I think many will approve of him.

[rdbase]

True @Reid The SEC are the ultimate gatekeepers when it comes to the approval of this bitcoin spot ETF.
All and everyone who has put in their application has been put on hold because of them and they have been annoyed by yet another delay of the waiting process.
So it looks like the next date to look out for is mid-October on the long list of dates outlined in the graph below:

https://twitter.com/CryptosBatman/status/1697570495863177631

[Reid]

I don't know why SEC still keeps on stopping it while here is the truth that might happen if ever, they just wave their white flag and accept the Bitcoin spot ETF.
https://www.cnbc.com/2023/08/29/first-bitcoin-etf-could-be-coming-soon-as-court-rules-in-favor-of-grayscale-over-sec.html
Here is one.

Castle Island Venture’s Nic Carter agrees, adding that while the SEC can go back and try to deny the application on different grounds, the best next step is for the agency “to accept the decision as a way to ‘save face’ and allow the spot ETF in a way that shows they disagree with the decision but respect the court’s ruling.”

And this.

CoinRoutes CEO, Dave Weisberger, tells CNBC it could even net SEC Chairman Gary Gensler a political win — a spot bitcoin ETF would grant the regulator some oversight of the bitcoin spot market even though the token is not considered a security.

Most supporters of Bitcoin will probably change their mind about SEC if ever they just let it go. It's been taking so long, and they are just making more angry mobs that would lead them to be hated for a long time.
Let's face it, Bitcoin Futures was easily approved because the SEC knew it won't gain any popularity and that's what happened even as of today. Spot Bitcoin ETF will be a different story. This is why they are giving Grayscale a hard time to be approved for a spot ETF.
But I like what Dave Weisberg, CEO of CoinRoutes said on this interview.
https://www.youtube.com/watch?v=Yd0KyBrHV4I
"SEC could lay low against Grayscale, approve BlackRock and Fidelity Spot ETF, and then challenge Grayscale to do the same thing." Because there's no way SEC would win now everywhere they go, even at Supreme Court. They are just prolonging the inevitable.

[rdbase]

Some interesting points made @Reid

Had seen something about this on X/Twitter near the end of last month which describes just that:

source: https://twitter.com/BitcoinMagazine/status/1696961368308478408

We can predict what will happen with a comparison to when the precious metals gold first received their ETF to see what is instore for bitcoin when it first receives theirs with this chart:

https://twitter.com/misterrcrypto/status/1697297950056263944

[Reid]

^And that is how a Spot ETF can affect an asset. Amazing. Thanks for sharing @rdbase about that Gold market history.

We know what's next.
Appeal or not, SEC will not just make it easy for Grayscale, but it might approve Fidelity and Blackrock. But Grayscale will be approved no matter what, the only question is "When?". There go your super delays that SEC would do just to show they have the firm control of everything.

SEC won't have anything anymore to deny the application. All they can do is prolong this battle but soon they will still give it up with maybe some strict rules attached into it.

But when they do approve it, that's when we will see another bull run as other fund companies will start doing it too and I bet Bitcoin can do better than what Gold did after the entry of Spot ETF in the market. This will also be the time we might not see big dumps that could happen. Finally.

[rdbase]

Big news inregards to the spot etf news since the SEC getting burned by the courts for delaying it again and again:
https://dailyhodl.com/2023/09/12/150000000000-coming-to-bitcoin-market-once-blackrock-btc-etf-gets-approved-predicts-bloomberg-analyst

This might be the news for cryptocurrencies for it to be pumping..
along with Gary Gensler being drilled infront of court right now.

[khiholangkang]

Big news inregards to the spot etf news since the SEC getting burned by the courts for delaying it again and again:
https://dailyhodl.com/2023/09/12/150000000000-coming-to-bitcoin-market-once-blackrock-btc-etf-gets-approved-predicts-bloomberg-analyst

This might be the news for cryptocurrencies for it to be pumping..
along with Gary Gensler being drilled infront of court right now.

The prediction is that after the ETF is approved, it will allow the flow of funds into the market of $150 billion, and of course we think the same about this, it will increase significantly for the crypto market, especially bitcoin and this sentiment will result in a long bullish trend until the end of the 2025 cycle.

Previously I doubted some people on speculation boards who said that it was likely that bitcoin would reach a price level above $150k in 2025, but today I realize that the domino effect of accepting a bitcoin ETF will raise the awareness of people in the financial world who have been skeptical about it. bitcoins.
thanks for the information bro.

Gary Gansler won't last long, if he doesn't quickly pass the decision to approve ETFs and stick with his thinking, he won't last long at the SEC, I can assure you of this.

[rdbase]

I like your valuable insight on this pivotal point in bitcoin's lifespan @khiholangkang

Here is another very big piece of news corresponding with the other article I posted recently with another huge player wanting to enter the market with their own application for a spot ETF for the SEC to deny along with Grayscale:


https://blockworks.co/news/franklin-templeton-bitcoin-etf

[khiholangkang]

I like your valuable insight on this pivotal point in bitcoin's lifespan @khiholangkang

Here is another very big piece of news corresponding with the other article I posted recently with another huge player wanting to enter the market with their own application for a spot ETF for the SEC to deny along with Grayscale:


https://blockworks.co/news/franklin-templeton-bitcoin-etf

Thank you in advance.

What show in this article in my opinion is from the effect of submitting ETF Bitcoin by Blackrock and others, so they also do not want to be left behind, although this Franklin Tampleton has no long experience like blacrock or fidelity but it seems they also see with the potential of ETF Bitcoin This can benefit their platform.

I really can't wait that they can trade ETF Bitcoin, Gery Gansler really must be fired in the SEC position.
But do you think that there are other people/groups who forced GanSler's gery to forbid the Bitcoin ETF agreed to be traded?

[Reid]

https://twitter.com/ki_young_ju/status/1715171098302566615?t=yXfAz2XMuuthumt2n4cRcw&s=19


Oh, I am sure it will.
The recent mistake by Cointelegraph is already a proof of that. We have seen how investors will react once the Bitcoin Spot ETF is approved. Now the big question, what if its real?
It will continously increase the demand of Bitcoin by a fold that might be shocking in our eyes.
The only difference on this upcoming pump will be "it's real". Not something bought by one billionaire and just sell it all out because he likes too. This will be a movement because of demand and not just about hype anymore.
The actual problem that might exist is the supply once the demand climbs up.

[rdbase]

I am not so sure about that found fact now @Reid as we have seen the bitcoin price surge by $7000 over the past 72 hours since there was some news about the biggest hedge fund investment company has mentions of the spot ETF filings coming this month:
https://cryptoslate.com/blackrock-could-seed-spot-bitcoin-etf-by-end-of-october-filing-suggests
https://coingape.com/blackrock-seed-spot-bitcoin-etf-october

What else could explain it raising from $26,665 all the way to where it is now at $33,757 as of writing this?
https://cryptopotato.com/blackrock-ceo-larry-fink-shares-thoughts-on-a-bitcoin-btc-bull-run

There is also an iShares ticker symbol somebody noticed and posted it on X earlier today.
So this is looking quite promising that it will actually become a reality really soon.

[SquirrelJulietGarden]

I am not so sure about that found fact now @Reid as we have seen the bitcoin price surge by $7000 over the past 72 hours since there was some news about the biggest hedge fund investment company has mentions of the spot ETF filings coming this month:

I witnessed many hype waves in Bitcoin market and this is not my first time. As a Bitcoin holder, who is DCAing Bitcoin and waiting for a big bull run after next halving, I feel cool to see the rise recent days.

I am very cautious that this wave will continue to lift Bitcoin price up more as well as successfully maintain its price above $30,000 or $35,000 till the end of 2023. It's not a big question for DCA fans and hodlers but it is a challenging question for traders. If they are unsure, take profit is not too bad. Wait for other waves to join is not bad at all.

If they think Bitcoin will skyrocket and gamble with leverage, I believe they will face with Long squeeze in last two months of 2023.

https://twitter.com/ki_young_ju/status/1715171098302566615?t=yXfAz2XMuuthumt2n4cRcw&s=19


Oh, I am sure it will.

I am sure about it too. Hype effects would be very big with Bitcoin Spot ETF and even without Bitcoin Spot ETFs, I expect Bitcoin will double its price after a 2024 halving.

Bitcoin Spot ETF approvals will help Bitcoin to more easily double its price from 2021 all time high.

[rdbase]

The recent mistake by Cointelegraph is already a proof of that. We have seen how investors will react once the Bitcoin Spot ETF is approved. Now the big question, what if its real?
It will continously increase the demand of Bitcoin by a fold that might be shocking in our eyes.
The only difference on this upcoming pump will be "it's real". Not something bought by one billionaire and just sell it all out because he likes too. This will be a movement because of demand and not just about hype anymore.
The actual problem that might exist is the supply once the demand climbs up.

That is probably what spurred this deadhorse on forward with bitcoin Spot ETF approval actually!

https://twitter.com/TheFlowHorse/status/1716551098951950481

They did blame their disasterous blunder on an intern afterall!
"Hey where is our meme guy!?
We need a recut of the “Have we started a fire” Bane scene with
@Cointelegraph intern going down in the plane."
https://twitter.com/TheFlowHorse/status/1716552051226710024

[Reid]

That is probably what spurred this deadhorse on forward with bitcoin Spot ETF approval actually!

It will feel better for that dude who was fired if he have Bitcoin in his stash. The mistake will probably be worth it. What he will make in this pump is better than his salary in Cointelegraph. 

I am sure about it too. Hype effects would be very big with Bitcoin Spot ETF and even without Bitcoin Spot ETFs, I expect Bitcoin will double its price after a 2024 halving.

Bitcoin Spot ETF approvals will help Bitcoin to more easily double its price from 2021 all time high.

Hype is like a pandemic, it can easily be contagious, and I bet after the investors bought some Bitcoin they just won't stop anymore.
At least this mistake made a good effect on the value of Bitcoin. Not that I agree with what they have done because it can also be a virus that will be mimicked by other cryptocurrency news services just to boost other cryptocurrencies that they like. It's wrong and somehow right especially if you are one of the Bitcoin investors too.

Now, I am waiting for the whales to dump because Bitcoin ETF is still not approved it will just be the same shit all over again. They won't be scared just yet to manipulate the market. Sorry if I am an early pleasure spoiler.

[SquirrelJulietGarden]

Hype is like a pandemic, it can easily be contagious, and I bet after the investors bought some Bitcoin they just won't stop anymore.
At least this mistake made a good effect on the value of Bitcoin. Not that I agree with what they have done because it can also be a virus that will be mimicked by other cryptocurrency news services just to boost other cryptocurrencies that they like. It's wrong and somehow right especially if you are one of the Bitcoin investors too.

People never stop reacts emotionally on the market that can not have market waves if people can control their emotion better and if everyone can control their emotion and actions perfectly, market will be very boring.

Because they can not control emotion, the psychology of market cycles still work very well for market markers and whales in any market.

Now, I am waiting for the whales to dump because Bitcoin ETF is still not approved it will just be the same shit all over again. They won't be scared just yet to manipulate the market. Sorry if I am an early pleasure spoiler.

I expect Bitcoin will have significant correction within one week or two weeks because ending week or starting week of each month is very sensitive with big movements.

[Luzin]

I follow several Telegram channels that provide news that ETFs may not be approved next year. Even through social media I read the list of Bitcoin ETF applications missing from the submission queue list. I don't know if this is true, nor have I found the official news. Maybe friends here understand more about this matter. I also discussed this issue in the local forum, maybe this is FUD.

Source:
1. https://twitter.com/MMCrypto/status/1716842011142341112?t=SFhik0KbDn1qVi53KIqenQ&s=19
2. https://twitter.com/MMCrypto/status/1716842431017316746?t=TlWyFouZkUdOc7OqIzqZjw&s=19

[rdbase]

I follow several Telegram channels that provide news that ETFs may not be approved next year. Even through social media I read the list of Bitcoin ETF applications missing from the submission queue list. I don't know if this is true, nor have I found the official news. Maybe friends here understand more about this matter. I also discussed this issue in the local forum, maybe this is FUD.

Source:
1. https://twitter.com/MMCrypto/status/1716842011142341112?t=SFhik0KbDn1qVi53KIqenQ&s=19
2. https://twitter.com/MMCrypto/status/1716842431017316746?t=TlWyFouZkUdOc7OqIzqZjw&s=19

MMCrypto is the worst source for any information.
They had it removed from your linked tweets on October 24th the BlackRock ETF, but have since added it back.
https://blockworks.co/news/blackrock-ibtc-dtcc-etf

They had it listed back in August but nobody noticed until the beginning of October. We all know why they had removed BlackRocks application: due to the commotion it has caused the price to spike. And they don't want that to happen so soon.

CryptoRUs reported on this in his last livestream about 9 hours ago:
https://www.youtube.com/watch?v=54Jk71NHAXE

I would rather listen to what George from CryptoRUs has to say rather than the guy on MMCrypto which looks to on something or has had way to much coffee right before his own livestreams. He has a wildin' look in his eyes everytime I see those video thumbnails on youtube.

You can't go by what these people who are relying solely on big institutional investors money to come in and save the day for bitcoin to surge back to $68,000. Just look at Cathy Wood, CEO of Ark Invest for example.
She is saying "bitcoin to $1,000,000!" just a week ago but now she sold when it hit $35,000 yesterday.
Bitcoin Spot ETF Ark Invest application- Paul Barron
https://www.youtube.com/watch?v=u8RBEOLa4p4

[rdbase]

Last month saw bitcoin's price surge enough for the media to tote it as Uptober.
This was the cause of speculation of the bitcoin spot ETF receiving it's approval later on this year.
https://www.coindesk.com/markets/2023/10/31/bitcoin-saw-27-october-surge-as-traders-panic-bought-amid-bitcoin-etf-enthusiasm-is-40000-next

Van Eck has a more convincing timeline of it happening early next year as the SEC just recently approved a ETH futures ETF:
https://blockworks.co/news/bitcoin-halving-etf-investors

[rdbase]

Today the SEC meeting is scheduled and bitcoin's price surged past $35.5k on the speculation they might announce an approval to one of the applications:
https://www.investing.com/news/cryptocurrency-news/crypto-markets-eye-sec-meeting-as-btcspot-etf-awaits-approval-93CH-3215101

[Woodie]

As much as SEC has the interest of potential and current investors as a primary duty, if they are not approving the ETF on grounds of investors not understand what these crypto assets are all about, hasn't ample time passed ever since this was brought before them and investors are educated enough by now   Are they protecting their interests with the rumoured centralised coin about to hit the markets hence trying by all means BTC ETF fail

Today the SEC meeting is scheduled and bitcoin's price surged past $35.5k on the speculation they might announce an approval to one of the applications:
https://www.investing.com/news/cryptocurrency-news/crypto-markets-eye-sec-meeting-as-btcspot-etf-awaits-approval-93CH-3215101

Hope something good comes from this

[KiaKia]

--snip--
I think it gives them a sense of power of basically destroying xrp and any collaborations they once had with their backers.
https://www.irishtimes.com/business/technology/revolut-warns-that-cryptocurrency-xrp-could-become-worthless-1.4449821

People confusing Bitcoin with scams like XRP may well be the reason that SEC is taking so long on regulatory clarity. For example, if one talks about cryptocurrencies, then BTC is really the only one with PoW and zero central leadership such that it can be identified as a new entity.

The Cacth-22 in front of SEC may well be about what to do with bullshit like XRP where some "Foundation" gave itself 60 Billion pre-mined coins and has been selling them to retail buyers since then with active support from centralized exchanges. I think they really want to set the record straight when it comes to "Satoshi's inventions" and these copies that were simply scams supported by slick marketing and bagholders who find these of value.

They have to tread that fine line between corporate coins and actual cryptocurrencies.

This is exactly why it is taking so long to secure approval in the US due to SEC seeing what is happening with XRP in the courts.
Deeming them a security and with coins like Shiba-inu rising it's market cap by 170% in a week while having no use case other then for the lawls.
https://investorplace.com/2021/10/shiba-inu-price-predictions-are-white-hot-as-shib-sniffs-out-new-highs

Then Goodluck with their ETFs, as if Bitcoin can't survive without the approval, I strongly believe that Bitcoin will still make a new all time high if they failed to approve the ETFs, what is wrong with Shiba inu? Many meme coins turn into scam after Doge coin success in 2021, what are the SEC doing about those? But the meme coins that stand still is what they are using as an excuse?

They can't tell people or force them where to put their money, people understand the risk, and yet these meme coins have the biggest market cap in the bull market, I always thought that Doge coin won't survive, it was named the shitcoin of crypto years ago, and now it's a worth coin to invest into.

Let them take their time with the approval, I don't see how many people the SEC have saved from scam already, there are thousands of coins coming out this days and majority if them are scams, but how many have they hunt down?

[rdbase]

Let them take their time for a bitcoin spot etf approval in the US. Because rejection of it in the largest market is still a possibility,
Other countries have already had their bitcoin spot etf approved for several years now according to this article.

https://www.ccn.com/news/sec-rejcets-spot-etf-countries-alternatives

[Reid]

SEC’s first window to approve all 12 spot Bitcoin ETFs to begin today

There’s an eight day window between Nov. 9 and Nov. 17 where all 12 spot Bitcoin ETF filings could be approved by the SEC, according to Bloomberg ETF analysts James Seyffart and Eric Balchunas.

From Nov. 17, the comment period for 3 filings, including Global X Bitcoin Trust, Hashdex Bitcoin ETF and Franklin Bitcoin ETF would recommence, meaning that they wouldn’t be approved or denied until after Nov. 23 at the earliest.

Here are the deadlines.

According to the article they are expecting an approval before January 10 which means one of those three will be approved because of the deadline. Or will it be Grayscale first because all their deadlines are over, and they only need the approval.

[rdbase]

Some rather big news breaking on the ETF approval post Zhao's arrest and Binance being monitored by the US government of money laundering for those outlandish allegations during the department of justice press conference:

BlackRock met with SEC officials to discuss spot Bitcoin ETF
"Representatives from the U.S. Securities and Exchange Commission also met with Grayscale on Nov. 20 in the asset manager’s bid for listing a Bitcoin ETF."
source: https://cointelegraph.com/news/blackrock-sec-spot-bitcoin-etf-discussion

BlackRock and the SEC: What Was Discussed in Bitcoin ETF Meeting?
source: https://www.ccn.com/news/blackrock-sec-meeting

BlackRock seems to having all the cards fall in their favor prior to the SEC decision on the approval of a bitcoin spot ETF.
A little all too convenient how it is all playing out like this was planned out to go this way all along.

https://twitter.com/misterrcrypto/status/1727245783161061855

https://twitter.com/misterrcrypto/status/1727027216809378167

Did BlackRock really take out CZ and Binance so to pave the way to BTC gold?

https://twitter.com/AltcoinDailyio/status/1727028621368557916

[Reid]

Bitcoin to $1M post-ETF approval? BTC price predictions diverge wildly

Bitcoin BTC ($37,321) may not reclaim $40,000, despite increasing excitement over a spot exchange-traded fund (ETF).
In recent analyses, crypto market participants have started to reconsider just how bullish the ETF narrative really is for BTC price action.

I am just glad that Bitcoin price action is now relying to the Bitcoin ETF. That's the idea. It is now gaining popularity thanks to the left and right news about the ETF approval coming.
Yes, it is true that the value of it might go low because of CZ pleading guilty which could affect the whole cryptocurrency market. But this is just going to be another bump to the market of Bitcoin, and we have experienced larger problems than that. (FTX, Mt.Gox, etc.)
Off topic about Mt.Gox: Mt. Gox creditors offered fresh hope with new ‘commencement of repayment’ email

“Expected any rumour on a Binance vs US resolution to be more bullish than price reflects (reasons: positive for ETF, less uncertainty for investors if there is a resolution), on top of the generally bullish headlines last weeks (minus Kraken, though much of it is more of the same earlier crackdown language recycled),” he continued.

The fear of missing out is there. I don't think Bitcoin will go back to $30k anymore just because of one man stepping down as the CEO of the big exchange. Investors are expecting something in Bitcoin not in Binance.

Just counting how many times the "ETF" was used on that article gives me the assurance that we won't be expecting a big dump anytime soon especially after ETF approval.

[rdbase]

Bloomberg ETF analyst James Seyffart has placed betting odds of the bitcoin spot ETF being approval by Jan 10 next year:
https://cointelegraph.com/news/spot-bitcoin-etf-january-approvals-possible-analysts

Here is the article if you are subscribed to the site:
https://www.bloomberg.com/news/articles/2023-11-29/grayscale-trust-becomes-live-betting-line-for-spot-bitcoin-etf

[Reid]

^
January! Yes, I have high expectations that will be the time.

Here are the deadlines.

So, using this graph, we have 10 ETF's that have deadlines ending in mid-January. But I doubt all of them will be passed by SEC. They are not that foolish to just let it all go wild in one swoop.

After reading this one article, this is what makes me worry.
Futures will be the best crypto game in town even after a Bitcoin spot ETF
https://cointelegraph.com/news/futures-best-crypto-game-even-after-bitcoin-spot-etf

There is no doubt that a spot ETF will bring large flows of institutional money into the sector. However, it will not change the basic fundamentals of Bitcoin liquidity. As we know, the supply of Bitcoin is capped at 21 million. That means the futures market is the only place where real trade action can happen.

Demands will be high due to institutional money coming in, but it has to be balanced by liquidity or else we will not see a currency but more a pure asset.
When value keeps growing it will hurt those who are doing transactions every day because of the large fees, just like today.
Well, I don't want to speculate further than that yet because we have not really experienced yet how the Bitcoin ETF will affect the market. This will be a new ground for us after it is approved.

[rdbase]

https://twitter.com/Crypto_McKenna/status/1733122545853845848

So the funny thing about the companies naming the ticker symbols pending their approvals is Fidelity's ticker for their spot BTC ETF will be $FBTC

[rdbase]

Some interesting articles about the incoming bitcoin spot ETF yesterday amist the 7% pullback of the BTC price within the past 36 hours:

Bitcoin ETF roadblock come January. BlackRock says if not declared a commodity but rather a security
https://coinpedia.org/news/analyzing-the-roadblocks-why-an-etf-approval-by-january-10th-seems-unlikely

Blackrock's Spot Bitcoin ETF Filing Update Addresses Potential Classification of BTC as a Security by SEC – Regulation Bitcoin News
https://news.bitcoin.com/blackrocks-spot-bitcoin-etf-filing-update-addresses-potential-classification-of-btc-as-a-security-by-sec

[Reid]

BlackRock, Nasdaq, SEC Met Regarding Bitcoin ETF

Representatives from BlackRock (BLK), Nasdaq, and the Securities and Exchange Commission (SEC) met for the second time in a month to discuss rule changes that are necessary to list the bitcoin (BTC) exchange-traded fund (ETF), according to a published memo.

https://www.coindesk.com/markets/2023/12/20/blackrock-nasdaq-sec-met-regarding-bitcoin-etf/

As CoinDesk previously reported, the inclusion of a surveillance-sharing agreement aims to mitigate market manipulation risks associated with crypto trading – something that the SEC is very concerned about.
The groups also met in November to discuss the same topic, according to a published memo. At this November meeting, BlackRock provided a presentation that detailed two models, in-kind and in-cash redemption, for supporting their proposed ETF.

It seems SEC is trying all they can to make this longer and so they want more detailed information about the applied ETF. Something an elementary student would also understand.
Thankfully, BlackRock is patient enough to answer all of it and provide all the information needed so that SEC won't have any doubts anymore. Manipulation risk. BlackRock is a known investment firm so I don't think that could happen. And regarding manipulation there so many projects out there who does this kind of trick, maybe SEC should also focus on them.

[rdbase]

They are speculating by end of this week hence the pump but that is doubtful since congress attached to the SEC are on their holidays by then.
So will probably be at the scheduled January 10th deadline. Atleast one of those.

Prior to this major event happening to bitcoin's fate in the institutional sector there are several articles which have emerged concerning BlackRock and their filing of a Bitcoin spot ETF:

https://en.bitcoinsistemi.com/analysts-evaluated-the-effects-of-possible-bitcoin-etf-approval-on-bitcoin-exchanges
https://www.bsc.news/post/how-bitcoin-etf-approval-can-impact-the-crypto-market
https://cointelegraph.com/news/spot-bitcoin-etf-bloodbath-cex
https://bitcoinist.com/bitcoin-etf-denial-could-cause-major-crypto-rugpull

[Reid]

They are speculating by end of this week hence the pump but that is doubtful since congress attached to the SEC are on their holidays by then.
So will probably be at the scheduled January 10th deadline. Atleast one of those.

January it is.

Prior to this major event happening to bitcoin's fate in the institutional sector there are several articles which have emerged concerning BlackRock and their filing of a Bitcoin spot ETF:

https://en.bitcoinsistemi.com/analysts-evaluated-the-effects-of-possible-bitcoin-etf-approval-on-bitcoin-exchanges
https://www.bsc.news/post/how-bitcoin-etf-approval-can-impact-the-crypto-market
https://cointelegraph.com/news/spot-bitcoin-etf-bloodbath-cex
https://bitcoinist.com/bitcoin-etf-denial-could-cause-major-crypto-rugpull

Because of the high expectations that Bitcoin ETF should be approved at the first month of next year, many are optimistic that it should happen. No doubts.
So I guess this is the reason why articles with results on the "what if it didn't pass?" are coming out.
But, it's Bitcoin we are talking about here. Many investors will still FOMO, and I highly doubt that they would sell their Bitcoin just because of one approval failing.
There are more dates that it could happen and I bet it will next year. I still believe that Bitcoin investors are the most patient people because they have been on ups and down of the market so a rugpull will not happen. But maybe it will in Altcoins.

Here another article about that which was recently posted.
Spot Bitcoin ETFs could ‘completely destroy’ Bitcoin: Arthur Hayes
https://cointelegraph.com/news/spot-bitcoin-etf-could-completely-destroy-bitcoin-arthur-hayes

Wall Street giants will only serve to “vacuum up” Bitcoin and store them in a “metaphorical vault," if too successful, the number of Bitcoin transactions would dry up, says the BitMEX co-founder.

Let's be ready because articles like this might come out more often until the day the Bitcoin ETF approval comes.

Spot Bitcoin (BTC) exchange-traded funds (ETFs) could “completely destroy” Bitcoin if they are too successful, warns the former CEO of BitMEX.

“The end result is miners turn off their machines as they can no longer pay for the energy required to run them," said Hayes. "Without the miners, the network dies, and Bitcoin vanishes."

I highly doubt this could happen. Transaction fees will be their saving method to continue their work.
I hope we have a miner to help us understand these things. I lack the knowledge when it comes to mining.

[Crypt0Gore]

Bitcoin will still do it's thing either ways, and maybe ETF approval isn't good anyways for Bitcoin who knows? But these ETFs are not the only ones that's ready to be approved, some are already approved but out of the US, which is why I believe that the US is playing a big part in crypto space than other countries.

The deadline is already here and if it eventually get approved be on alert for some huge pump and big retracement, the halving isn't even here yet and I feel after halving should be the best time to get the ETFs approval but it's all good.

[Reid]

Bitcoin will still do it's thing either ways, and maybe ETF approval isn't good anyways for Bitcoin who knows? But these ETFs are not the only ones that's ready to be approved, some are already approved but out of the US, which is why I believe that the US is playing a big part in crypto space than other countries.

The deadline is already here and if it eventually get approved be on alert for some huge pump and big retracement, the halving isn't even here yet and I feel after halving should be the best time to get the ETFs approval but it's all good.

Before the halving? Hmmm, yeah that seems right. I think a pump is inevitable even if the approval on January will not happen yet.
I don't believe on whatever news they are scattering all over X or other social media network. It will be approved and SEC will have no choice but to do it. They didn't won against Grayscale which is a big punch to the face and it just says how great a chance for Bitcoin ETF to be passed.

Speaking of Grayscale, here is another news about them.
Grayscale refiles Bitcoin ETF application as Barry Silbert departs
https://cointelegraph.com/news/grayscale-bitcoin-etf-application-barry-silbert-departure

Grayscale has “finally surrendered” to cash creations in its amended filing to convert GBTC into a spot Bitcoin ETF.

Some crypto market commentators speculate that Silbert’s departure could significantly increase the odds that Grayscale will successfully convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF, currently awaiting a decision from the Securities and Exchange Commission.

One of the tweets said that his resignation is a Christmas gift to them.  

Lumida Wealth CEO Ramah Luwalia speculates that Silbert’s resignation was likely of his own accord to improve the odds of the ETF approval — due in large part to the SEC’s ongoing investigation into Silbert and DCG.

That may be right. We will see on the upcoming updates about this.

[rdbase]

Since this will the catalyst for the next huge pump occurring before the halving next year coming in the first quarter, BlackRock is outlining what Coinbase's role will be it's masterplan to make bitcoin the global way of transacting with the financial sector:

source: https://cryptoslate.com/blackrock-alters-role-of-coinbase-among-6-changes-to-etf-filing-to-cover-regulatory-concerns

[Reid]

^ Quoting from your link.

The change in Coinbase’s role from Prime Broker to Prime Execution Agent suggests a potential shift in the perceived responsibilities that Coinbase will have concerning BlackRock’s ETF. As a Prime Execution Agent, Coinbase’s perceived primary role is to process buy or sell orders on behalf of the ETF rather than providing the broader range of services typically associated with a Prime Broker. However, much of the language in this section remains consistent with the last filing. Updating terminology to align with SEC guidance rather than introducing material differences is a trend seen across other filings, such as the language regarding a “direct exposure” to Bitcoin.

I like this, it's simpler.

Here is another news about the Bitcoin ETF.
Bitcoin ETF Approval Tipped to Be 'Sell The News' Event: CryptoQuant
https://www.coindesk.com/markets/2023/12/28/bitcoin-etf-approval-tipped-to-be-sell-the-news-event-cryptoquant/

Bitcoin could fall to as low as $32,000 next month if an ETF is approved.

Nah, I don't think so.

In what is being described as a potential "sell the news" event, CryptoQuant said in a note to CoinDesk that trader's unrealized profits are currently lingering at a level that historically precedes a correction.

But, the thing that they don't see is the increase in demand. If ever there's a correction I don't think it will go as far as $32k. We have been there. With an added hype and the ETF, $32k might be history. Then, they are forgetting about the halving.

"Short term Bitcoin holders are experiencing high unrealized profit margins of 30%, which historically has preceded price corrections (red circles)," CryptoQuant wrote in the note. "Moreover, short term holders are still spending Bitcoin at a profit, while rallies usually come after short-term losses are realized."

They also forgot about the holders who are FOMO. They won't sell, many will do. Then the added new investors will have the same phenomena, the terrifying belief that if they sell now, they might miss the boat.
I am optimistic that Bitcoin's bottom will stick with $35k up! Better. $40k

[rohang]

Bitcoin Magazine on X: "NEW: FOX Business confirmed "the date for final amendments to all" spot #Bitcoin ETFs is December 29th. "SEC has told issuers that applications that are fully finished and filed by Friday will be considered in the first

https://twitter.com/BitcoinMagazine/status/1739338033294401738

[rdbase]

So the gates have been closed for the first wave to get in having the deadline pass December 29th.
Now the waiting game begins as many are anticipating an approval in the first few days of the new year starting January 4th.
So can we see bitcoin's price rise to new heights since it's all time high of $69,700~ or if it is not approved in the first week of 2024, see it take a massive drop to $32,000 as many are predicting?

[rdbase]

Today there was a rather big drop in the bitcoin price in a short amount of time before most of the Western world had to chance to see it happen on the markets.
The cause: Matrixport calling out a rejection by the SEC

Here is the article all the crypto influencers went by when announcing the news on their podcasts:
https://www.theblock.co/post/270125/sec-will-reject-all-bitcoin-spot-etfs-in-january-says-matrixport-analyst

More of an explanation of what actually happened within the SEC and the meetings they had with some of the companies wanting their spot ETF approvals completed:

https://www.coindesk.com/policy/2024/01/03/bitcoin-spot-etf-proposals-to-be-rejected-by-sec-matrixport/

[rdbase]

A statement from one of the founders of Matrixport who happened to be a well known person in bitcoin @JihanWu:
"Matrixport's analysts operate independently, expressing their opinions without any influence or interference from management. They are employed for their superior analytical skills compared to mine and other management team. I have only briefly glanced at the title of the report, as have many of you.

Markus, a talented analyst, authored "Crypto Titans" last year, detailing the price history of cryptocurrencies. His book vividly recounts events, sometimes more clearly than my own memories, even in instances where I incurred financial losses.

At the outset of 2023, Matrixport was among the few who accurately predicted Bitcoin's low point and maintained an extremely bullish stance.

As intended, this recent report was prepared for Matrixport's clients. However, its wide spread by the media was not planned by Matrixport and is beyond our control.

As far as I know, Matrixport has been consistently advising our clients to be mindful of risks and leverage, especially given the market's volatility spurred by expectations surrounding Exchange-Traded Funds (ETFs). This volatility is evident in the perpetual market's high funding fees and the recent decline in crypto-related stocks in the stock market over the past two trading days before today.

Looking at Bitcoin's history and its future prospects, the current volatility and the potential approval uncertainty of a Bitcoin ETF in January 2024 are ultimately of no importance. In the long term, Bitcoin will always prevail. In my opinion, the approval of a Spot ETF by SEC, which will attract fresh investment into Bitcoin, is inevitable. Bitcoin is poised to solidify its position as a store of value and a risk-hedging asset akin to be better than gold."
source: https://twitter.com/JihanWu/status/1742577001633026365

For those who don't know who this person is. He is the one with Roger Ver condoned Bitcoin SV & Bitcoin Cash:
https://www.financemagnates.com/cryptocurrency/news/whale-attack-jihan-wu-of-bitmain-may-unload-his-satoshi-vision-coins

So all in all, this speculation on not having a spot ETF approval in the month of January was just that, speculation without having their analysts doing any fact checking on the situation causing the red on the bitcoin markets when the news was released earlier yesterday.

[rohang]

A statement from one of the founders of Matrixport who happened to be a well known person in bitcoin @JihanWu:
"Matrixport's analysts operate independently, expressing their opinions without any influence or interference from management. They are employed for their superior analytical skills compared to mine and other management team. I have only briefly glanced at the title of the report, as have many of you.

Here is the link for full article-

https://dailycoin.com/crypto-crash-beyond-our-control-says-matrixports-wu/

They are insisting it was not an attempt to manipulate the market, i find it hard to believe they didnt expect this to happen.
However as the article says the (perhaps exaggerated) reaction to a single analyst report is not good for crypto markets and investors alike.

[rdbase]

That is the one I was referring too @rohang

You might also remember him as the one with the now famous line from a tweet awhile ago too:
https://www.reddit.com/r/Bitcoin/comments/60xi1i/jihan_wu_cofounder_of_bitmain_studied_economics
the tweet had since been deleted from which it was posted in 2017
https://twitter.com/jihanwu/status/731902686379933697

[rdbase]

What is this It will be approved, it won't be, it will be tomorrow.. BS?!
They will or they won't before next week is done January 10th was the settle date to have it done with.

This is how it is looking right now. Wake up!

https://twitter.com/CryptoYapper/status/1743215764163731659

[LSDadventure]

That is the one I was referring too @rohang

You might also remember him as the one with the now famous line from a tweet awhile ago too:
https://www.reddit.com/r/Bitcoin/comments/60xi1i/jihan_wu_cofounder_of_bitmain_studied_economics
the tweet had since been deleted from which it was posted in 2017
https://twitter.com/jihanwu/status/731902686379933697

Jihan Wu is a man behind Bitman and he supported a scam team with Roger Verr, Craig Wright who want to be recognized by community and government as Satoshi Nakamoto.

I don't trust this man.

Also Wu wiped out his engagement in any report from his company Matrixport by saying that the company has many departments and many staffs who are responsible for collecting information, writing reports. He is not responsible for it and not engaged in approvals of those reports before publishing.

[tread93]

There were three more ETFs waiting for approval from the senate.
This time one of them have to go through since bitcoin has raised in price by 10 fold since the last time they were looking at them.
And the economic situation has changed so drastically with the collapsing of the debt ceiling.

Honestly they seriously can't delay their decision much longer can they? I'm sure IF an ETF gets approved it will have both good and bad implications. I am mostly leaning more towards them being good and positive effects overall. One can only hope! There has certainly been a lot that has happened in the world to your point since they last looked at this.

[rdbase]

That is the one I was referring too @rohang

You might also remember him as the one with the now famous line from a tweet awhile ago too:
https://www.reddit.com/r/Bitcoin/comments/60xi1i/jihan_wu_cofounder_of_bitmain_studied_economics
the tweet had since been deleted from which it was posted in 2017
https://twitter.com/jihanwu/status/731902686379933697

Jihan Wu is a man behind Bitman and he supported a scam team with Roger Verr, Craig Wright who want to be recognized by community and government as Satoshi Nakamoto.

I don't trust this man.

Also Wu wiped out his engagement in any report from his company Matrixport by saying that the company has many departments and many staffs who are responsible for collecting information, writing reports. He is not responsible for it and not engaged in approvals of those reports before publishing.

He does make himself look like a puppetmaster of sorts. From all his under the table dealings of the past and with bitmain the mining company on top of all their history in the space.
I don't even think his partner Mr. Ver fully trusted him either. And Mr. Wright, well, let's just keep this thread on topic shall we?

Yes @tread93 most certainly to the fullest extent would be agreeing with you on this statement you had pointed out! And the cryptocurrency environment has most certainly changed since this very thread had been created as I might point out aswell.

Here is the latest news about the fee structure they intend to imply once the approval process has been concluded. Some say as soon as tomorrow which was the next deadline many are hoping to close this journey towards institutional adoption of bitcoin:

Source from Reuters: https://www.reuters.com/technology/companies-disclose-expected-fees-spot-bitcoin-etfs-ahead-sec-decision-2024-01-08

[rdbase]

They found the hacker:

https://twitter.com/CryptoTHFC/status/1744853343275552987

This so called crypto influencer has been at SEC headquarters since Monday and last time I heard was camping out infront of their building in protest as you all can see from his sign, until someone from the SEC comes to meet with him or the BTC spot ETF is approved.
At this rate he will be there til next week.

[rohang]

Bitcoin Magazine on X: "JUST IN: VanEck releases new spot #Bitcoin ETF commercial. "Bitcoin may help guard against the government devaluing your money." 👀



https://twitter.com/BitcoinMagazine/status/1745473575912415622

[Reid]

Finally!!!

https://x.com/Cainewei/status/1745188610712678651?s=20
Bitcoin ETF supporters can finally slow down now. This is the start, the spark, and I think there will be more coming this year.
I always think it will happen, I am very optimistic too but I was surprised it was approved this early. I thought the SEC would still try to lengthen the process and make all Bitcoin ETF supporters drool while waiting for the approval. I guess they could not take all the hype that is going on social media.
It had been the talk for months ever since that fake news about the approval came out last year.

Here's a good read from CNBC for those who likes to understand how it will affect the market and what it will mean for investors.
https://www.cnbc.com/2024/01/11/heres-what-a-bitcoin-etf-actually-means-for-investors.html

The actual approval Wednesday marked a massive step for the cryptocurrency, as it will give investors increased ways to gain exposure to the token — not just from holding it directly, but via existing financial instruments that trade on a regulated stock exchange.

A nice day to celebrate the good news.

[rdbase]

After all the dust has settled here are those fund managers from the companies which had their applications approved by the SEC to begin trading their BTC Spot ETFs on the market late last week:
Firstly lets get this out of the way - Bitcoin When Go To Moon anthem: https://www.youtube.com/watch?v=8rGuH0vBLLs


Galaxy Digital's Michael Novogratz on bitcoin ETFs: An amazing product for consumers & institutions
https://www.youtube.com/watch?v=CoFM8TUZ6J0

Grayscale CEO Michael Sonnenshein on bitcoin ETF approval: The culmination of 10 years of work
https://www.youtube.com/watch?v=GOOzszrxC3A

BlackRock CEO Larry Fink: Bitcoin ETF approvals are 'stepping stones' towards tokenization
https://www.youtube.com/watch?v=se1bcqMYg8g

ARK Invest CEO Cathie Wood: Our base case for bitcoin is $600,000, bull case $1.5 million by 2030
https://www.youtube.com/watch?v=K5NB8MHe3Nw

Also the biggest Bitcoin and Crypto-related exchange in the United States has his response to what this new spot ETF means to cryptocurrency in the future:

Coinbase CEO Brian Armstrong on SEC ETF decision: We'll see new pools of capital come into bitcoin
https://www.youtube.com/watch?v=Ml5DSW5xoL0

And lastly we have the head of the SEC Gary Gensler post approval and what he has to say about his struggles on getting this  finally done
SEC Chair Gensler on bitcoin ETF approval: The underlying asset is highly speculative and volatile
https://www.youtube.com/watch?v=kXZyoVatAX4

All the above are sourced from CNBC Television's youtube channel.

[rdbase]

You just knew BTC would rise when Cramer says it is going to zero and it is for suckers post spot ETF approval.

https://twitter.com/RobinSeyr/status/1750995995020697729

Even an Inverse Cramer X account noticed the bounce from $39k to $43k since he mentioned it on his show:
https://twitter.com/CramerTracker/status/1752051173807264120

[Reid]

You just knew BTC would rise when Cramer says it is going to zero and it is for suckers post spot ETF approval.

https://twitter.com/RobinSeyr/status/1750995995020697729

Even an Inverse Cramer X account noticed the bounce from $39k to $43k since he mentioned it on his show:
https://twitter.com/CramerTracker/status/1752051173807264120

That dude is always angry.
From $39k to $44k. I think it did well. Now, I want to see more of this Bitcoin ETF's being approved and I bet it will increase more.

I bumped into this while looking for more news.
Spot Bitcoin ETFs Record Nine Consecutive Days of Inflow, Fidelity Leads
https://www.coinspeaker.com/spot-bitcoin-etfs-nine-days-inflow-fidelity/

BlackRock and Fidelity continues to see inflows for their spot Bitcoin ETFs eating the market share from Grayscale as GBTC continues to bleed amid high management fees.

On February 7, the spot Bitcoin ETF products recorded their ninth straight day of net positive inflows. As per data from Farside Investors, yesterday’s inflow was the highest for the month of February so far, at a hefty $145 million. Interestingly, this also coincides with Bitcoin’s 4% price rally to $44,500.

This is indeed good news and the competition is healthy.
Blackrock and Fidelity are now on the lead when it comes to inflows, Grayscale in trouble although the outflows are slowing down.

[rdbase]

The biggest rally in the price of bitcoin happened since 2022 and it seems it was attributed to just that: Inflows from the BTC spot ETF many in the financial sector are pointing to the recent spark from $42,500 to $47,500 in the past 48 hours.

https://dailyhodl.com/2024/02/08/bernstein-analysts-say-bitcoin-will-explode-to-new-all-time-highs-on-etf-fueled-rallies-report

[rdbase]

Very interesting post done by the ECB (European Central Bank) today.

https://twitter.com/ecb/status/1760580254920212640

With over 2 million views since it was posted earlier today.
You would be sure there were some responses from the bitcoin community on this statement.

Such as this one:

https://twitter.com/Beetcoin/status/1760644237102666060

[rdbase]

With bitcoin reaching $59,000 which was an increase of 11% in just the past 48 hours many believe it has been due to the amount in the bitcoin spot ETFs in each of the company holdings:



https://twitter.com/therationalroot/status/1762415812441207184

[rdbase]

Vanguard's CEO announced he would be stepping down at the end of the year.
Many have speculated the decision was based on the company not joining the other major investment corporations in the bitcoin spot ETF with this missed opportunity for their customers.

https://www.altcoinbuzz.io/cryptocurrency-news/vanguard-ceo-steps-down-after-bitcoin-etf-row

[rdbase]

It has been a rather interesting past few months when the spot ETF was approved for bitcoin.
We had seen it reach all time highs of over $73,337 on some exchanges then plumet down to $63,600 from what we just seen it do yesterday.

This is a good article to see what the bitcoin halving will do with these inflows and outflows and how it will affect the price in the coming month when it actually does occur:
https://bitcoinmagazine.com/markets/impending-halving-creates-chaos-and-opportunity-in-bitcoin-market

[rdbase]

Another article which discusses in the year all those bitcoin spot etf were released would cause bitcoin not to be as bullish in the past years the halving had occurred:
https://www.coindesk.com/markets/2024/04/05/did-strong-bitcoin-etf-demand-kill-halvings-potential-bullish-rally

All the sell-offs caused by the grayscale bitcoin spot etf outflows did drag it back down under the key market price the last several weeks.

[Reid]

Another article which discusses in the year all those bitcoin spot etf were released would cause bitcoin not to be as bullish in the past years the halving had occurred:
https://www.coindesk.com/markets/2024/04/05/did-strong-bitcoin-etf-demand-kill-halvings-potential-bullish-rally

All the sell-offs caused by the grayscale bitcoin spot etf outflows did drag it back down under the key market price the last several weeks.

I don't know. I am not expecting a lot of impact in this years halving because that is likely to happen just like most of the halving before. But give it months or a year and we will probably see a sudden pump to the Bitcoin market as they feel how the halving will affect everything. It needs to be marinated.

It's true that the ETF's entry made a big boosts to the value of Bitcoin but still, we cannot tell what will happen in the future or what the halving's effect will be. This is just a speculation and the hype will probably calm down soon.
Long-term I believe ETF is great for Bitcoin but so is the halving. It would not be in this position if the past halving didn't happen.