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Woodie
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November 02, 2023, 02:09:27 PM |
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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  Hope something good comes from this |
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KiaKia
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November 02, 2023, 02:42:06 PM |
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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-highsThen 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? |
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rdbase (OP)
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November 08, 2023, 11:21:41 AM |
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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 |
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Reid
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November 14, 2023, 01:33:13 PM |
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SEC’s first window to approve all 12 spot Bitcoin ETFs to begin todayThere’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.
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Reid
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November 24, 2023, 12:58:59 AM |
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Bitcoin to $1M post-ETF approval? BTC price predictions diverge wildlyBitcoin 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.
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rdbase (OP)
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November 29, 2023, 10:26:35 PM |
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Reid
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December 09, 2023, 12:50:13 AM |
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^ 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 ETFhttps://cointelegraph.com/news/futures-best-crypto-game-even-after-bitcoin-spot-etfThere 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. |
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December 09, 2023, 11:37:32 AM |
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 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 |
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Reid
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December 20, 2023, 09:20:14 AM |
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BlackRock, Nasdaq, SEC Met Regarding Bitcoin ETFRepresentatives 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.
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Reid
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December 25, 2023, 03:53:01 AM |
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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. 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 Hayeshttps://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.  |
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Crypt0Gore
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December 25, 2023, 02:37:49 PM |
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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.
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Reid
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December 27, 2023, 05:11:19 PM |
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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 departshttps://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. |
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Reid
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December 29, 2023, 02:53:19 PM |
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^ 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: CryptoQuanthttps://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 |
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rohang
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December 29, 2023, 03:10:18 PM |
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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 |
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rdbase (OP)
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December 31, 2023, 11:25:46 AM |
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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?
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