franky1
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October 17, 2021, 02:14:17 AM |
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its not approved. the nasdaq just confirming they received an application. and WHEN aprroved they will list it.
i can personally create a whole new financial tool requiring like 5 years of SEC debate and to-and-through. yet i can get a nasdaq listing offer in weeks. it means nothing by itself
meaning there will be no listing on the 18th(monday first business day after the letter)
its just a letter saying they WANT to hurry up the approval process, NOT a letter saying the approval process has been accellorated NOT a letter saying the approval is confirmed
calm down guys.
.. once a ETF is actually approved. the excitement will not be in that first company. but on a fact that there is a template that other companies can copy to get their own companies approved by following the leaders policies. then you will see hundreds of ETF get default approved in fast succession
but that time is not now. the company named in the letter has not been approved by the SEC. and no information has been shown to say when/if they will be successful.
these letters are not confirming the ETF is approved. instead its like a notice of intention or a notice that the business is more then just vapourware. businesses use these letter not to start running the business but just to show off to investors that something is coming. basically its a way to sway investors to start handing them money before the business even begins
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Redbackone
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October 17, 2021, 02:28:31 AM |
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We will slowly see more and more ETFs in the Crypto space. Most will start trading companies investing in BTC and mining BTC (i.e. avoid direct exposure to get around regulation issues). This is happening in Australia with Betashares launching their CRYPT ETF ( https://www.betashares.com.au/news/betashares-crypto-innovators-etf-cryp-coming-soon-to-the-asx/). Once there is direct exposure to BTC we will see a significant price jump as industry funds can begin to get involved. ETF companies are seeing the interest and money to be made. Every ETF survey I've been sent over the past 12 months has asked about my interesting in investing in a range of new "trends" e.g. Ethical investing, etc. Crypto Currency has always been listed. Personally I prefer to hold directly as there's no fees (bar purchase) but I can see why there is a need for ETFs in the crypto space. Remember - we're still early in the adoption phase!
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Huppercase
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October 17, 2021, 05:44:06 AM |
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After so many years of trying, it was finally approved. This is indeed a good news and of adoption everyone is waiting for but nobody is actually actually talking about the base side of ETF. We all know real btc trade 24 hours a day and 7 days a week continuesly but ETF trade only Monday to Friday, this will continue to open gap during the weekends and even eliminate volatility completely.
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bbc.reporter
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October 17, 2021, 05:57:17 AM |
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Breaking. ETF green light is already priced in.
Not to be a wet blanket but OP proves that the market is already reacting or has already executed all the actions as if the ETF is active and go. So when it eventually does (we're all in agreement right?) trade, most of that good feeling and sentiment would have been set in. Not that this won't be the trigger to many more new ATHs!
It has not been approved by the SEC as other have mentioned. This is only Nasdaq’s public announcement that they are ready to list. These are the real dates for the approval or rejection. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2Fy4B6Gxx%2FD0-ECD655-27-E8-48-B7-8933-8-B859-E259140.jpg&t=665&c=eSpHY_26ZCtlxQ) Wait for Sunday if it pumps, if it does not pump and appears to he waiting for news, I speculate there will be sell on news dump. Also, from Gary Gensler’s latest statements on bitcoin and the cryptospace, would anyone say that there will be an approval for an ETF?
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buwaytress
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October 17, 2021, 09:09:16 AM |
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Breaking. ETF green light is already priced in.
It has not been approved by the SEC as other have mentioned. This is only Nasdaq’s public announcement that they are ready to list. These are the real dates for the approval or rejection. And that's the "problem" for me. It's not actually greenlighted, but I believe everyone and their trading mom is pricing it in, the eventual go ahead shouldn't really do much. Unless the SEC itself makes a big deal out of it or provide commentary on why they approved it and actually said something nice about Bitcoin (but that's just my non-technical reasoning). Not so many hours left to a possible decision.
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cryptomaniac_xxx
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October 17, 2021, 09:10:28 AM |
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+1. I also saw this, so probably this is one of the reason of recent pumps on Bitcoin, about ETF. But this thing OP posted, it seems may some people misunderstand it. As I understand about this is, only NASDAQ approved it for now.
Yea, lots of people have definitely been mislead with these kinds of headlines on social media, and it definitely helped the upward price pressure. But to be fair, apparently the chances of the futures ETF being approved is really high. Right, many jump on the bandwagon again, pushing it to almost to $63k. But the market has settled this weekend, it's down to $60k++, so probably the news about it getting approved is already price in. Nevertheless, there's a lot in line this October, whether rejected or not, I think the price will remain above $60k for some time. Until there is another good news to bolster the market again.
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bbc.reporter
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October 18, 2021, 04:38:37 AM |
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Breaking. ETF green light is already priced in.
It has not been approved by the SEC as other have mentioned. This is only Nasdaq’s public announcement that they are ready to list. These are the real dates for the approval or rejection. And that's the "problem" for me. It's not actually greenlighted, but I believe everyone and their trading mom is pricing it in, the eventual go ahead shouldn't really do much. Unless the SEC itself makes a big deal out of it or provide commentary on why they approved it and actually said something nice about Bitcoin (but that's just my non-technical reasoning). Not so many hours left to a possible decision. Agreed, as antagonistic it may sound. I hope I am wrong on this, however, this might be the market doing a move similar to buy the rumor, sell the news. Also, I asked this but no one answers, will Gary Gensler approve an ETF for bitcoin if we base the decision on his latest comments on the cryptospace?
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Kakmakr
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October 18, 2021, 05:38:16 AM |
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People should not be too optimistic about anything being approved by the SEC, because we know what happened with the previous applicants in the past. https://www.cnbc.com/2018/07/26/winklevoss-twins-bitcoin-etf-rejected-by-sec.htmlThere are always a big hype before these announcements and the market react positively and then the SEC come in and spoil the party. In any way, if it gets approved... the market will spike for a short while and it will drop back to $50 000+ and stabilize there.
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davis196
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October 18, 2021, 05:58:30 AM |
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After so many years of trying, it was finally approved. This is indeed a good news and of adoption everyone is waiting for but nobody is actually actually talking about the base side of ETF. We all know real btc trade 24 hours a day and 7 days a week continuesly but ETF trade only Monday to Friday, this will continue to open gap during the weekends and even eliminate volatility completely.
OP,do you even read the posts above yours or do you want to just boost your post count? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) The ETF wasn't approved and even if it gets approved,the ETF cannot eliminate volatility completely. Bitcoin will remain volatile forever,perhaps mass adoption could lower the price volatility,but no ETF or other financial derivatives will help for lowering price volatility.It's actually quite the opposite.Such financial instruments exist because of the price volatility of an asset. I assume that 90% of the Bitcoiners still don't understand what an ETF actually means that how it is used by the investors. Anyway,an ETF being approved won't be the bullish news that will pump the Bitcoin price to 100K USD.
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Mpamaegbu
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October 18, 2021, 06:18:18 AM |
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Look at the positive impact of this news despite of china's attempt to continue to release their FUD dogs. It's just right about time that this bull run might seems to make its own way to $70k before the end of the year. I think we needed more adoption before we get to see that $70k before the correction hits.
The impact hasn't even been felt yet. I believe it's this news that will expectedly drive price to the projected $100,000 new ATH this current bull season. Fundamentals drive technical analysis and I've that feeling this could be it. Again, about China; more people aren't taking them serious anymore on whatever ban they come up this day. China is going to be the big loser in this Bitcoin story. She's shooting herself in the foot. Anyway, I don't know if SEC saw something in Bitcoin but with or without them Bitcoin can stand alone with enough support of us people of course. It's just a bonus that they finally approved this after a long time of waiting.
I guess they saw through this that without the ETF Bitcoin will soar to great height and that's why they're now throwing their weight behind Bitcoin.
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NeuroticFish
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October 18, 2021, 06:55:51 AM |
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Yea, lots of people have definitely been mislead with these kinds of headlines on social media, and it definitely helped the upward price pressure. But to be fair, apparently the chances of the futures ETF being approved is really high.
Yes and no. Many were probably misled, also "buy the rumor" probably works greatly, but overall I was surprised by this topic. If this (Bitcoin ETF approved) would have been for real, the media and twitter would have had many many more news on this. Since I am just drinking my coffee, I didn't even try to read what the paper tells, instead I've scrolled down to see what a few Legendary members tell about it. And your other post, which I've merited, tells simply and clearly the story. My only regret is that the forum doesn't rearrange the replies and makes that one the first to save people from reading/scrolling too much ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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stadus
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October 18, 2021, 07:31:06 AM |
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Back in the days when the market was still bearish, we were easily affected with the "ETF news", and mostly it's negative news and that's the reason why the market is down, but this time when we are not expecting it anymore but it's approved already, so it's understandable that the market will pump and it must probably the reason why bitcoin has a bounce-back close to its ATH.
In terms of effect, it will have a long-term positive effect while the hype is normal today.
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leea-1334
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October 18, 2021, 07:53:17 AM |
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Yes to above comment,,, I wish somehow we can also upvote the reply that is the most relevant so we can see the most useful response and OP can even pin the update or something but anyway this forces us all to read the whole thing ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) It seems approval or not,,, people are confident something is finally going right for Bitcoin ETFs. But yes, the worry also is if it does not get approved then will it spell bad news for price?
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Slow death
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October 18, 2021, 07:35:25 PM |
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since the day they talked about a possible bitcoin ETF approval the price has risen in a very scary way, so scary that it's hard to predict what would happen if any bitcoin ETF were not approved, and people from what I can see are very confident that approval is something guaranteed, but they forget that they are dealing with the SEC that has already postponed and rejected bitcoin ETF several times
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bL4nkcode
Copper Member
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Limited in number. Limitless in potential.
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October 18, 2021, 07:49:41 PM |
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Is this still effective? I mean, yes, lots of people here expect ETF way back years ago, yet it didn't happened until people doesn't care anymore of every news regarding ETF. And there are lots of reasons why bitcoin still increasing despite of those ETF getting disapproved. Private companies and even government recognized/accepting bitcoin, proving that it's more important than what ETF could do. But I guess this still bring hype, and that's not bad at all.
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cr1776
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October 18, 2021, 09:24:22 PM |
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This is a futures ETF, so while it is a positive, it isn't a true ETF holding bitcoin. Barring something crazy, it should start trading tomorrow, but a futures based ETF is more expensive and less positive than a true one. This has been going on for 8 years - since 2013 - so it took them long enough to even get to this point.
So much for a free country. In the US today, it is more regulated and taxed than many authoritarian's wildest dreams.
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worldofcoins
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October 18, 2021, 09:30:27 PM |
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If you cast Bitcoin and Bitcoin ETFs aside then the future is going into the digital age. It's pushed in a certain direction but who knows if there's going to be a plan for oneworld government, Banks already owns most of the power.
There was a documentary I posted somewhere but it was removed for being off topic so let me see if i can find it.
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*meoww*
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btcwish1 (OP)
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October 18, 2021, 10:24:08 PM |
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yazher
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October 19, 2021, 12:01:45 AM |
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since the day they talked about a possible bitcoin ETF approval the price has risen in a very scary way, so scary that it's hard to predict what would happen if any bitcoin ETF were not approved, and people from what I can see are very confident that approval is something guaranteed, but they forget that they are dealing with the SEC that has already postponed and rejected bitcoin ETF several times
What would have happened if it's not approved? I mean will they withdraw those bitcoins they already invested or we will see another price decline again? When they see this approved for the first time, then it would make sense for the price of bitcoins to reached another ATH. If they see some positive impact with this news, they won't hesitate to push the price up to the newest record this year.
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