If this $64 billion ETF approved, Bitcoin could surpass above $60,000

[janggernaut]

We do know there are 3 more bitcoin ETF approved on North America, that's why price has surge up

https://news.bitcoin.com/3-bitcoin-etfs-approved-north-america/

Now, there is another bigger ETF filed to SEC,

New York City-based asset manager WisdomTree Investments has filed with the U.S. Securities and Exchange Commission to launch a Bitcoin exchange-traded fund (ETF).

If approved, the shares of the WisdomTree Bitcoin Trust will be changing hands on the CBOE BZX exchange under the BTCW ticker.

https://u.today/64-billion-asset-manager-files-bitcoin-etf-proposal

What do you think?

[Wilhelm]

I’ve been hearing ETF for many many years.... don’t get your hopes up...

[jackg]

According to coinmarketcap btcs volume today was around 6
$60bn so a new etf might make the price move. There are already quite a lot of etfs though, but new ones might be good for decentralisation.

(im not sure if some smaller etfs or ones that don't get much publicity just disappear though - I've seen a few go).

[UnDerDoG81]

60k? You realize we are 2k away from it. I expect 150k this bullrun at least.

[Hippocrypto]

I'm still waiting for that outcome of ETF approval but I'm so happy to see that price is heading towards to $60k. As we expect to surpass on that level, I think we need more months or even years to go further. Possibly it's now happening that another etf is currently striving harder just to make everything to success without any hindrance. Bullrun is performing sustainably and building stronger momentum to achieve another higher targets.

[Yaunfitda]

I’ve been hearing ETF for many many years.... don’t get your hopes up...

Exactly, a still remember the twins ETF in 2017, it was a catalyst to see the price from ~$1k to $2k, then after it was rejected, the price goes down again. And there's a lot in 2018-2019 that people grow tired of hearing bitcoin ETF that we really don't care anymore.

Of course it will be a welcoming news, but don't put high hopes that we may see it being approved in the future.

[Tytanowy Janusz]

Its not $64 billion ETF. Its ETF that was proposed by a WisdomTree - asset manager that manage a $64 billion. ETF is not an investor. ETF is just an option that allow investors to invest. And investors have tones of options nowadays. Starting from crypto exchanges, paypal, robinhood ending on already approved ETFs, CME, Investment funds like greyscale. Its not 2016. No one will be excited from another ETF.

[cryptomaniac_xxx]

Its not $64 billion ETF. Its ETF that was proposed by a WisdomTree - asset manager that manage a $64 billion. ETF is not an investor. ETF is just an option that allow investors to invest. And investors have tones of options nowadays. Starting from crypto exchanges, paypal, robinhood ending on already approved ETFs, CME, Investment funds like greyscale. Its not 2016. No one will be excited from another ETF.

Right, 2016-2017 was the ripe year for a bitcoin ETF if I'm not mistaken, a lot of hype. But it seems that the excitement is no longer there. Bitcoin reaches almost $20k in 2017, went on a bearish trend, and now we in a phase wherein $100k is imminent. So do we really need ETF and this point? Bitcoin has change and evolved a lot since the hype 4 or 5 years ago.

[Dave1]

We are nearing $60k without any ETF, so I guess we can achieved that without any help right?

But if by chance we are going to see a ETF approval, we might see at least 6 digits easy. But in the last 4-5 years since we have heard the first ETF proposal application, not even one was approved. So our chances are slim to none, unless SEC changes its rule to cope with cryptocurrency ETFs.

[sunsilk]

That won't do that much impact anymore if the goal is only $60k once those ETFs approved. But we've been heard of it many times from SolidX VanEck's proposal before but it didn't happen.

We are nearing $60k without any ETF, so I guess we can achieved that without any help right?

Yup, even without it. $60k is at hand and that's very likely to happen unless we see again a barrier that's so tough to be broken and surpass.

[Lucius]

ETFs in Canada or in some other countries are one thing, and when US based ETF happens, it will be a completely different story - because like it or not, the money is there and everyone is waiting for the SEC to give its blessing.

Given how the situation with BTC has been evolving over the last 6-8 months, I wouldn’t be surprised if the ETF (US) is also approved this year - although the SEC has the right to review each application 3 times in a 240-day time frame. However, according to many analysts, it is more realistic to expect an ETF in 2022 or 2023 at the earliest - which again coincides with speculations that the price could explode and exceed even $200 000 at that time.

[Wilhelm]

We are nearing $60k without any ETF, so I guess we can achieved that without any help right?

But if by chance we are going to see a ETF approval, we might see at least 6 digits easy. But in the last 4-5 years since we have heard the first ETF proposal application, not even one was approved. So our chances are slim to none, unless SEC changes its rule to cope with cryptocurrency ETFs.

An ETF would open up Bitcoin to more investors. But without Bitcoin will keep growing...

[BrewMaster]

from back when price was $700 i have been hearing people say the same thing that if THIS ETF is approved bitcoin will surpass $800 then things got heated in 2017 and people repeated it a lot more and to this day US has not even approved a single ETF while price keeps going up without it.

so i guess my question for you is that why do you (after this many years) still think ETF news is even going to have any effects on bitcoin?

[Lucius]

so i guess my question for you is that why do you (after this many years) still think ETF news is even going to have any effects on bitcoin?

I know that the question was not addressed to me, but I just want to say that the news in itself about ETFs have almost no effect, and I think that for most it is already quite clear. The OP still refers to what would happen if the ETF in question were approved - but as I wrote before, it is not a problem that the BTC ETF does not exist - but the problem is that it does not exist where they want it most (US).

Of course, in the past, the SEC certainly didn't even think to approve something like that, but a lot has changed since then - many are interested in BTC today, but they won't invest in it until they get an instrument like an ETF. Not to be misunderstood, I do not think that the BTC ETF is something that must happen and that it is necessary, because some experts agree that it will have negative effects on BTC in the long run - but it is not realistic to expect that it will never happen. Who until a year ago thought that Tesla would put $1.5 billion in BTC?

[DeathAngel]

Bitcoin doesn’t need an ETF but trust me, investors & institutions are going to need bitcoin to save their financial futures. It’s just a matter of time until the US approves a bitcoin ETF.

[stadus]

ETF does not affect the market anymore, either bad news or good news, we are done with that. We are now into something bigger like institutional investors trusting the crypto market, and that is way more assuring to investors about the potential of bitcoin and crypto as a whole than any ETF news related.

[janggernaut]

Well since bitcoin has reached $60,000 (it was even goes to $61,500) and made new ATH, i think i must lock this thread. Thanks for your answer, but personally i still think ETF approved will affect bitcoin price, doesn't matter it's big effect or small effect only.