List of ETF filings this year in the US(NEW ETF ADDED)

[OgNasty]

SEC delays again the result of 4 Bitcoin ETF for another 60 days. List of the following ETF below:

• Kryptoin Bitcoin ETF
• WisdomTree Bitcoin Trust
• Valkyrie XBTO Bitcoin Futures Fund
• Global X Bitcoin Trust

Maybe this is the reason why Bitcoin is pumping hard. Another room for possible hype before the result of approval on ETF application. Whales well played on this part.

Source: https://finance.yahoo.com/news/sec-stalls-again-four-bitcoin-194923376.html

That’s a bit of a shame but the timing better matches up with the expected peak of Bitcoin this cycle anyway. Before this news I expected we’d see an ETF approval in the next two weeks. Now it’s looking like we’ll be waiting until the end of November instead. In any event, it should be a good Christmas this year.

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[Coin_trader]

SEC delays again the result of 4 Bitcoin ETF for another 60 days. List of the following ETF below:

• Kryptoin Bitcoin ETF
• WisdomTree Bitcoin Trust
• Valkyrie XBTO Bitcoin Futures Fund
• Global X Bitcoin Trust

Maybe this is the reason why Bitcoin is pumping hard. Another room for possible hype before the result of approval on ETF application. Whales well played on this part.

Source: https://finance.yahoo.com/news/sec-stalls-again-four-bitcoin-194923376.html

That’s a bit of a shame but the timing better matches up with the expected peak of Bitcoin this cycle anyway. Before this news I expected we’d see an ETF approval in the next two weeks. Now it’s looking like we’ll be waiting until the end of November instead. In any event, it should be a good Christmas this year.

There's a high probability that they will really approve some this ETF because they can just reject it if they are still not happy about it but they move the approval date and some of the member of SEC giving a positive statement about there stand in cryptocurrency ruling, This delay is a blessings in disguise by SEC and we might see a legit 6 digit price this Christmas. FOMO will start once Bitcoin hits again 60K mark. 

[Lucius]

There's a high probability that they will really approve some this ETF because they can just reject it if they are still not happy about it but they move the approval date and some of the member of SEC giving a positive statement about there stand in cryptocurrency ruling,

I personally doubt that probability is high, because as I wrote recently, the SEC is very tough in its stance on Bitcoin in terms of approving ETF. In general, nothing has changed when it comes to Bitcoin (except the price), which means that the SEC still does not want to give the green light to something that is "largely unregulated" according to them.

This delay is a blessings in disguise by SEC and we might see a legit 6 digit price this Christmas. FOMO will start once Bitcoin hits again 60K mark. 

It is not a matter of any delay resulting from the SEC expressing any doubts about its decision - it is a matter of respecting legal deadlines and procedures. As far as I know, the final decision is made after 240 days, and it is preceded by two more deadlines in which the SEC can (and does not have) make a decision or extend everything to the next deadline.

But even though Gensler seems more comfortable with futures-based bitcoin ETFs than physical ones, they are likely still far off. “I expect a futures-based [bitcoin] ETF approval is more likely to occur in 2022 than in 2021,” Rosenbluth says.
This is likely due, in part, to SEC concerns. Along with worry over fraud and volatility within the cryptocurrency space, the SEC may also be concerned about how demand for a physical bitcoin ETF would impact the overall market.
Futures-based bitcoin ETFs would also come with unique risks, including that they do not necessarily track the price of the underlying security and come with higher costs, Rosenbluth says.

[Coin_trader]

@Lucius, Fair enough. 


OT, SEC approved an ETF for company that holding large amount Bitcoin on there balance sheet, This ETF includes 30 company and some of it are Tesla, Twitter, PayPal and many more. It's funny that the ETF for huge company approves faster than Bitcoin ETF that been pending for a couple of years.

Source: https://decrypt.co/82864/sec-bitcoin-etf-volt-tesla

[Lucius]

@Coin_trader, thanks for the interesting information, things seem to be starting to move in a positive direction, and such SEC decisions give even more hope to those eagerly awaiting the BTC ETF. It is also now more than clear that in the event of a positive decision, this ETF will be based on futures, which is again a step forward - but the question is whether such an ETF will have a significant impact on the crypto market, because everyone is hoping for a physically-backed ETF.

I would not say that there is anything strange or ridiculous in the fact that such an ETF is approved, because it is something completely different from what the SEC has persistently refused for years.

Park said the Bitcoin Revolution Fund will be less volatile than pure crypto plays since a plunge in the price of Bitcoin does not have a major affect on the shares of firms like Tesla or PayPal. Like other ETFs, the Volt fund's fees are modest, consisting of a 0.85% annual management fee.

[SquirrelJulietGarden]

SEC Chair Gensler: A Ban on Crypto Would Be ‘Up to Congress’

Finally it was spoken that SEC is not in charge to ban crypto that is up to the Congress. It is a misleading statement because if the Congress want to ban crypto, there will be turned into real implementation via SEC.

If the crypto market can have the first Bitcoin ETF, it will give the market a very positive sentiment. People who are only observing and hesitating to invest in Bitcoin will make their decisions to be in. A new FOMO wave will occur.

In 2017, the market has first future exchanges: CBOE and CME.
In 2017, will the market has first Bitcoin ETF?

[soliton]

One more  crypto company has jumped into ETF race. This time it is crypo lender  BlockFi  that is  seeking to launch ETF in USA. If the SEC approves this application then "the total value of the bitcoin to which the fund has economic exposure is equal to approximately 100% of the net assets of the fund." I think such an approval  would be a good news for customers of the  US lending industry.

Some details from BlockFi profile:

https://craft.co/blockfi

[Coin_trader]

One more  crypto company has jumped into ETF race. This time it is crypo lender  BlockFi  that is  seeking to launch ETF in USA. If the SEC approves this application then "the total value of the bitcoin to which the fund has economic exposure is equal to approximately 100% of the net assets of the fund." I think such an approval  would be good news for customers of the  US lending industry.

SEC will approve as long as its not a direct Bitcoin ETF since there's no clear regulation for that. A crypto company ETF is more acceptable for them since there's a firm regulation for ETF for company. This crypto company ETF list might increase in the following months when the ongoing Bitcoin ETF will be disapproved.

[DaveF]

I see Volt Equity ETFs have already been approved. I wonder how strongly Bitcoin will react if ETF approval after ETF begins? Perhaps the next wave of bitcoin pumping awaits us, like this year, thanks to the institutions.

I think it's going to be more of a question of how many ETFs will it take till it really gets moving.
As more come to be able to be bought more people will get in, as more people get in even more will be bought.
The 1st few, although important may not move the price in an large way until there is 'critical mass'.
What the number is to active critical mass, I have no idea.

-Dave

[soliton]

Bloomberg reported about  SEC decision to set soon (reportedly next week)  the  approval of ProShares ETF pertaining to bitcoin. Another relevant  filling  to be approved is an  Invesco one. This will be followed by  Valkyrie, VanEck, Galaxy, etc..Following this news BTC price has touched $60 K on some exchanges, particularly on Binance . I'm watching KuCoin right now where some bots are trying to push the price back. Let's see what will  happen...

[OcTradism]

Bloomberg reported about  SEC decision to set soon (reportedly next week)  the  approval of ProShares ETF pertaining to bitcoin. Another relevant  filling  to be approved is an  Invesco one. This will be followed by  Valkyrie, VanEck, Galaxy, etc..Following this news BTC price has touched $60 K on some exchanges, particularly on Binance . I'm watching KuCoin right now where some bots are trying to push the price back. Let's see what will  happen...

The first approval will cause a domino effect. Four years ago, in 2017 we did not have any exchange with Bitcoin Futures but in December 2017, we had two exchanges: CBOE and CME.

Now only CME is still providing Bitcoin Futures but they are pioneers for Bitcoin Futures and today we have many crypto exchanges with Bitcoin Futures.

Next four years, we will see Bitcoin ETF is something normal after the first Bitcoin ETF approval this year, if SEC approves it.

[nibor]

But can't see a Futures based ETF getting many investors - as Futures Roll is so expensive going to track BTC price less 12-15% a year (or worse if holds large proportion of open interest). Very expensive when compared to a physical ETF that can easily have less than 1% costs.

See:
https://bitcointalk.org/index.php?topic=5365787.0
for logic.

[Coin_trader]

BITCOIN ETF NEWS RECAP

• Nasdaq listing hints that the SEC may soon approve ETF application from Valkyrie Read more
• ProShares will launch trading of the first SEC Approved Bitcoin (BTC) Futures ETF on October 18th Read more
• Grayscale Investments close to filing application for spot bitcoin ETF Read more

[soliton]

BITCOIN ETF NEWS RECAP

• ProShares ... SEC Approved Bitcoin (BTC) Futures ETF on October 18th Read more

Not approved, but also not banned, in other words,   ProShares application is in limbo. "Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities .... Any representation to the contrary is a criminal offense." So arguing otherwise, you are now a criminal.  

The media has already called this state of affairs a tacit agreement, although in my opinion  SEC will  keep  them on a short leash - step to the right, step to the left and  the summary execution on the spot.

[Coin_trader]

BITCOIN ETF NEWS RECAP

• ProShares ... SEC Approved Bitcoin (BTC) Futures ETF on October 18th Read more

Not approved, but also not banned, in other words,   ProShares application is in limbo. "Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities .... Any representation to the contrary is a criminal offense." So arguing otherwise, you are now a criminal.  

The media has already called this state of affairs a tacit agreement, although in my opinion  SEC will  keep  them on a short leash - step to the right, step to the left and  the summary execution on the spot.

There ETF was already sold out to the public since October 18. I can't fully verified what you are talking about since your reference is there Form N-1A and it was use for  a new open-end mutual funds for there opening on 18.

https://www.cnbc.com/2021/10/19/first-bitcoin-futures-etf-rises-2percent-in-trading-debut.html



VanEck has also been approved to launch Bitcoin futures ETF to trade next week

The United States Securities and Exchange Commission, or SEC, has likely approved asset manager VanEck’s Bitcoin Strategy exchange-traded fund (ETF), with trading expected to begin on Monday.


Link : https://cointelegraph.com/news/vaneck-bitcoin-strategy-etf-will-likely-launch-next-week-as-crypto-prices-reach-aths

[Coin_trader]

They might be an ETF fee war once Van Eck Strategy approved probably today, They are offering much cheaper fee compared to it's competitor after the negative result on Valkyrie ETF opening last week.
Maybe we might see much cheaper ETF fee in the future, The current fee for all existing Bitcoint Futures ETF is insanely high IMHO.


Reference: https://www.ft.com/content/26893da4-7dcb-47d2-b6a8-6170a64dfbd0

[Lucius]

Competition is always good for every user, because a number of the same services on the market must compete to gain as many customers as possible, and they can only do so if they offer lower prices. I was quite surprised when I read how unfavorable this futures-based ETF actually is - and that may explain why the price of BTC drop after the media successfully sold the news and a new ATH was reached.

I guess people have very negative connotations when it comes to futures trading, obviously they remember the end of 2017 and CME futures.

[Coin_trader]

The opinion began to circulate on the network that this year the SEC will not approve the spot-based bitcoin ET :



It is possible that it is for this reason that Bitcoin reacted today with a fall to $58 000. In general, I have a strong feeling that ETFs were adopted this year solely for BTC price manipulation.

Probably since physically backed is far different from futures ETF, Futures ETF has a lot of downside for passive investor due to time limit involved on contracts. Not all investors don't want a complex trading with expiration of contract and insane fee. I would rather used exchange like Coinbase Pro than purchasing a very expensive futures ETF which really don't give ownership to real Bitcoin.

SEC is still undecided about the fate of physically backed bittcoin due to a lot of fraud and volatility happening on crypto space. It might backfire to them once somethings terrible happened to crypto and lots of investors loss funds on purchasing ETF. I think next year is the closest date for these ETF.


I read this on bybit newsletter, I think this is the reason.

51k contracts with a notional value of more than $3.2 billion are set to expire in the options market this Friday, Oct. 29. With the max pain price near $54k, a surge in volatility is to be expected as the expiry date draws near. As it stands, nearly 45% of calls and 7% of puts are still in the money, and with the current put-call ratio sitting at around 0.66, there is likely to be a bullish trend moving forward.

[Coin_trader]

News came out on Twitter yesterday that the SEC had rejected an application for a leveraged futures ETF from Valkyrie Investments.

SEC Won’t Approve Leveraged Bitcoin Fund

https://www.sec.gov/Archives/edgar/data/0001877493/000183988221015489/valkbtfx-485apos_102621.htm

Well SEC seems not really prepared for this, They just want to approved some of the ETF to have a trial and observe the effect out of it. Bitcoin price moves up and down with a huge spread, I think this volatility cause by the ETF makes the SEC rethink and evaluate first on what will be the effect in the future if they still proceed on widening the acceptance of Bitcoin ETF. Me myself is actually not happy on the result. Whales is playing the market and enjoying the benefits of pump and dump due to speculation and manipulative media just to control retail tradrers decision on holding Bitcoin. Seeing Bitcoin trading below it's ATH for a week makes me scared that something big correction is inevitable since ETF hype was already and we can't expect more this year base on this recent rejection.

[Lucius]

I wonder if there will be more ETF approvals this year? At least derivative ones, because it is clear that we will not see the spot ETF soon.

I think the number of futures-based ETFs is something that will not make a significant difference in the crypto market, so their number may only be important because of competitiveness (lower fees). However, according to what can be read in the US media, a physically-based ETF could become a reality next year, maybe even in the first half of next year.

Now the only question is, will such an ETF really have an effect that will cause the price of BTC to skyrocket, or have our expectations been exaggerated all these years?