BlackRock applies again

[SirJake]

The BlackRock Spot ETF has been approved for review from SEC this time. The application was officially taken by the SEC. Last time the application was rejected because some information was missing. So this time BlackRock addressed those shortcomings and reapplied. The SEC officially confirmed it.  now they have to review it. The SEC will check the application and make a decision to either confirm or reject it. This process may take some time. and Iam a bit concerned that the SEC might review the application until the next halving event (as I know there are no specific deadlines for SEC reviews)

https://cointelegraph.com/news/sec-accepts-black-rock-bitcoin-etf-application-signaling-regulatory-review

if the SEC took this drama near the Bitcoin halving event and if they genuinely want to attack the crypto industry rejecting the BlackRock application would be a significant negative impact on the market. If that happens the American government and SEC can liquidate the Bitcoin halving effect on the market. it is depending on the ETF application. I only have this concern due to the past activities of the American government and institutions. It might be a plan by America to attack the crypto industry but it is only a doubt in my mind. I cannot guarantee it 100%.

However many people are positive about the ETF approval. If the ETF is approved just before the halving event it could be the main reason for the next bull run. But this could also can be another drama and we cannot predict how it will end.

In any case we can collect Bitcoin for longterm benefits. If there are drops we can use dollarcost averaging. I say this because I saw news where Standard Chartered Bank predicts that Bitcoin will hit $50000 by the end of this year and $120000 next year due to the next halving event which will reduce the Bitcoin future mining supply by half.

https://www.reuters.com/technology/standard-chartered-bumps-up-bitcoin-forecast-120000-2023-07-10/

We cant be 100% sure but we can keep this prediction in mind because it comes from a global bank. The Bitcoin halving will have a fundamental effect on the market.
There is only have posibilites keep that on your mind.
If there is no intentional attack on the Bitcoin market 2024 will be one of golden year to bitcoin and all crypto markets.

[pawanjain]

The BlackRock Spot ETF has been approved this time. The application was officially taken by the SEC. Last time the application was rejected because some information was missing. So this time BlackRock addressed those shortcomings and reapplied. The SEC officially confirmed it.  now they have to review it. The SEC will check the application and make a decision to either confirm or reject it. This process may take some time. and Iam a bit concerned that the SEC might review the application until the next halving event (as I know there are no specific deadlines for SEC reviews)

https://cointelegraph.com/news/sec-accepts-black-rock-bitcoin-etf-application-signaling-regulatory-review

if the SEC took this drama near the Bitcoin halving event and if they genuinely want to attack the crypto industry rejecting the BlackRock application would be a significant negative impact on the market. If that happens the American government and SEC can liquidate the Bitcoin halving effect on the market. it is depending on the ETF application. I only have this concern due to the past activities of the American government and institutions. It might be a plan by America to attack the crypto industry but it is only a doubt in my mind. I cannot guarantee it 100%.

However many people are positive about the ETF approval. If the ETF is approved just before the halving event it could be the main reason for the next bull run. But this could also can be another drama and we cannot predict how it will end.

In any case we can collect Bitcoin for longterm benefits. If there are drops we can use dollarcost averaging. I say this because I saw news where Standard Chartered Bank predicts that Bitcoin will hit $50000 by the end of this year and $120000 next year due to the next halving event which will reduce the Bitcoin supply by half.

https://www.reuters.com/technology/standard-chartered-bumps-up-bitcoin-forecast-120000-2023-07-10/

We cant be 100% sure but we can keep this prediction in mind because it comes from a global bank. The Bitcoin halving will have a fundamental effect on the market.
There is only have posibilites keep that on your mind.
If there is no intentional attack on the Bitcoin market 2024 will be one of golden year to bitcoin and all crypto markets.

I think you should have completed your first sentence with "approved for review from SEC" because it's kinda misleading.
The chances of the application being rejected are less because BlackRock is a huge company to reject.
While the bitcoin ETF application is under review it's a good time to buy more BTC and keep a stop loss target in mind.

[Blitzboy]

See, waiting to hear back from the SEC on the BlackRock Spot ETF is like sitting through a suspenseful movie. I understand how anxious you must be. It's frustrating to have to play "will they, won't they" with the SEC over Bitcoin's future and large sums of money.

Don't get ahead of ourselves, though. When paranoia sets in, it's easy to envision conspiracies when there are none. In this regard, keep in mind that rules and laws can cut both ways. While they prevent fraud, they may hamper creative thinking. Like an unpalatable medicine, it may ultimately prove beneficial to our health.

The timing may very well cause problems. True, but consider the flip side. The approval of the ETF might provide the impetus we need. As if you hit a home run with no time left in the game. The halving impact is simply Bitcoin operating normally. It continues unabated like a metronome notwithstanding the SEC's or anybody else's efforts to stop it.

We must continue to have faith in Bitcoin, bro. A currency with revolutionary potential. Let's not lose sight of the end goal, whatever that may be, and just roll with the punches.

[Kemarit]

For now yeah, thus is going to be a waiting game for Blackrock, everyone is on the edge of their sit and wanted to see a approval. Nevertheless the journey will still continue despite what is going on the background.

And for good measures, we shouldn't be bother by it, we are still months for the block halving. So while waiting for the approval or rejection, we might as well continue what we are best at doing at, accumulating from behind. And if by chance it is approved, then we can taste institutional money flowing at our backyard. If no approval, then it couldn't stop the eventual bull run in 2024-2025. We are going to still hit all time high, no matter what.

[Faisal2202]

The BlackRock Spot ETF has been approved for review from SEC this time. The application was officially taken by the SEC. Last time the application was rejected because some information was missing. So this time BlackRock addressed those shortcomings and reapplied. The SEC officially confirmed it.  now they have to review it. The SEC will check the application and make a decision to either confirm or reject it. This process may take some time. and Iam a bit concerned that the SEC might review the application until the next halving event (as I know there are no specific deadlines for SEC reviews)

Your first statement got me excited when i read the post (just after you posted it) I quickly checked the market and it was normal then again i read the title and then read the full post and i was like, You should be working for NEWS outlets because they do the same. They always try to create excited NEWs to attract the attention of people so that they could get attention or traffic to their website.

Well, i have the list of all the companies which have applied for ETFs and their dates of results and today isn't the date of result. So, i think you should work on you title and the first statement. Additionally, i totally agree with you that, once the ETFs got approved, the market will be in great up-trend and we might see market to cross $40k or maybe more.

[BenCodie]

In any case we can collect Bitcoin for longterm benefits. If there are drops we can use dollarcost averaging. I say this because I saw news where Standard Chartered Bank predicts that Bitcoin will hit $50000 by the end of this year and $120000 next year due to the next halving event which will reduce the Bitcoin supply by half.

The future supply creation (mining rewards) are halved, not the whole supply.

The BlackRock Spot ETF has been approved for review from SEC this time. The application was officially taken by the SEC. Last time the application was rejected because some information was missing. So this time BlackRock addressed those shortcomings and reapplied. The SEC officially confirmed it.  now they have to review it. The SEC will check the application and make a decision to either confirm or reject it. This process may take some time. and Iam a bit concerned that the SEC might review the application until the next halving event (as I know there are no specific deadlines for SEC reviews)

I think you're on the money that it will take time. Not because that the review will take time, but rather because the SEC and the corporations involved will need to build the infrastructure that will not only support the ETF trading, but also so that regulations are followed in an autonomous way. I do hope the process takes some time, so that we get another buying opportunity.

We cant be 100% sure but we can keep this prediction in mind because it comes from a global bank. The Bitcoin halving will have a fundamental effect on the market.
There is only have posibilites keep that on your mind.
If there is no intentional attack on the Bitcoin market 2024 will be one of golden year to bitcoin and all crypto markets.

It is really hard to not get caught in the worry trap that something along the lines of an attack or manipulation will hurt us Bitcoin investors who are confident in the halving. I share that an unforeseen attack is the downside risk toward a confident BTC investment over the next 1-2 years.

[thecodebear]

Yeah this is not news. They've simply accepted the application so that they can formally reject it like every other ETF application. No different than every time the past few years.

[SyndicateLabs]

I think this matter still won't see the results many people expect from the SEC soon, but they won't refuse to prolong the review time and create enough traction but I I also believe this will happen.

And day by day more and more people will be in favor of bitcoin, what has been witnessed recently seems to be giving a rather positive atmosphere in the market, as we are forgetting about some of the previous minor FUDs and towards a longer view.

[kryptqnick]

Regarding the price, it seems realistic for Bitcoin to hit the targets noted by the op, but of course there can be no confidence about any forecasts.
As for the SEC, I don't think they want to hurt the industry, but they don't want to regulate Bitcoin either because it's not a security and isn't like securities. But Blackrock is a very solid company, so rejecting them straightaway can have a lot of backlash. So they make new demands, accept it for review, and now they can buy a lot of time under the pretence of thoroughly investigating the matter. I don't believe an approval is likely in the end.

[DapanasFruit]

I am excited that Blackrock had just filed the ETF anew after SEC decided that the previous one lacked some things that can be critical for its eventual approval or rejection. Now, with the kind of uncooperative and antagonistic stance of the current SEC, people are really wondering whether it would be fair enough in its evaluation. Or could it just be a big trap for the whole industry - timing the rejection just before the schedule halving in 2024? With the way things are, we can only speculate as nothing is really guaranteed.

[GreatArkansas]

Regarding the price, it seems realistic for Bitcoin to hit the targets noted by the op, but of course there can be no confidence about any forecasts.
As for the SEC, I don't think they want to hurt the industry, but they don't want to regulate Bitcoin either because it's not a security and isn't like securities. But Blackrock is a very solid company, so rejecting them straightaway can have a lot of backlash. So they make new demands, accept it for review, and now they can buy a lot of time under the pretence of thoroughly investigating the matter. I don't believe an approval is likely in the end.

Exactly, a lot of people expecting the price of Bitcoin will become higher versus the price of now even though there are no ETF things.
From this I can also see that is why we are bullish because of the Bitcoin block halving. It's one of the bullish events every block halving because we proved it based on previous block halvings.

[adaseb]

When the news hit, there was no reaction from the market. When the negative news hit that they have errors in their application, there was a large dump. Shows you how irrelevant these types of news reports are now. I also think that ARK ETF will be the first one to be either rejected or approved or delayed. Sometime in august is the deadline for that ARK ETF.

I think they had the BTC application already on review but they modified it, to make it a trust instead of an ETF when Blackrock first applied and they will be first in line. What will be interesting is if they reject ARK, will they reject Blackrock also and all the other etfs? Because I don't think they can reject ARK ETF but approve Blackrock unless there was something wrong with their application.Either way, markets will be very shaky until the end of summer. Liquidity is horrible right now.

[yhiaali3]

I do not see it appropriate to link between the rejection or acceptance of the BlackRock application and Halving Bitcoin, because in my opinion Bitcoin has overcome this effect as we have seen how the price recovered after the recent drop at a record speed.

Halving has a significant positive effect on the Bitcoin price regardless of whether the BlackRock application is rejected or accepted, but the positive effect is probably much greater if it is approved.

As for a plan by America to attack the cryptocurrency industry, this already exists, but it failed every time and will fail this time as well. Bitcoin has become more powerful and reliable.

[bittraffic]

I do not see it appropriate to link between the rejection or acceptance of the BlackRock application and Halving Bitcoin, because in my opinion Bitcoin has overcome this effect as we have seen how the price recovered after the recent drop at a record speed.

Halving has a significant positive effect on the Bitcoin price regardless of whether the BlackRock application is rejected or accepted, but the positive effect is probably much greater if it is approved.

As for a plan by America to attack the cryptocurrency industry, this already exists, but it failed every time and will fail this time as well. Bitcoin has become more powerful and reliable.

Although halving is yet a year away, this ETF is probably the awaited part where the price of BTC will go up to $35k. If ETF approves this year + the halving a very good combination for the super bull run that will shoot to more than $120K.

US attack on cryptocurrency is probably just a gimmick like podcasters saying it. The were speculating it already because BRICS countries are backing their new currency with gold and the US will be on crypto. Blackrock is Wallstreet = US.

[sesterceshop]

The moon is locked and secure, even if there is drama. It might get delayed, but eventually, BTC success is inevitable.

[Poker Player]

I'm not excited about ETF solicitation either. Whatever happens, whether they approve it or not, I don't really care at this point, although I think it's going to be inevitable in the long run that there will be ETFs on Bitcoin and other cryptocurrencies like there are on the S&P 500 or stock picks.

Although halving is yet a year away, this ETF is probably the awaited part where the price of BTC will go up to $35k. If ETF approves this year + the halving a very good combination for the super bull run that will shoot to more than $120K.

First of all, we should point out that there is not a year left, but about 9 months.

Then, about reaching $35K can happen in a week without any special positive news needed for it. This is normal for Bitcoin volatility. With very positive news it could reach that level in a day or two.

[Flep182]

I'm not excited about ETF solicitation either. Whatever happens, whether they approve it or not, I don't really care at this point, although I think it's going to be inevitable in the long run that there will be ETFs on Bitcoin and other cryptocurrencies like there are on the S&P 500 or stock picks.

Although halving is yet a year away, this ETF is probably the awaited part where the price of BTC will go up to $35k. If ETF approves this year + the halving a very good combination for the super bull run that will shoot to more than $120K.

First of all, we should point out that there is not a year left, but about 9 months.

Then, about reaching $35K can happen in a week without any special positive news needed for it. This is normal for Bitcoin volatility. With very positive news it could reach that level in a day or two.

Downside of this ETF is dat with usual volatility, getting a large market party stepping in and out could actually give more movement in the market, as it opens the access to new money that's not about to HODL.

[DooMAD]

My assumption is merely that the SEC don't want to be seen blatantly dismissing applications out of hand, because that would raise questions and official inquiries.  They're doing just enough to give the impression that they're seriously considering the filing before they arbitrarily dismiss it out of hand.

As others have already alluded to in other threads, while Gensler is in charge, it's likely that none of this stuff is getting through.  

We'll see what the next middle-aged white guy who happens to be a financial traditionalist thinks, when Gensler steps down/gets replaced (because you know it's guaranteed to be another middle-aged white guy who happens to be a financial traditionalist, they're not in short supply).

[Heisenberg_Hunter]

The road towards the next bull lies partially in the hands of SEC and their approval towards the various ETF filings. Additionally, the recent win in the Ripple case has pushed Bitcoin even further towards the light of positive factors which holds strong up until this moment but, there is a huge possibility for SEC appealing the decision very soon. If this happens, it could possibly create a minor dent in the price for short term and the forthcoming Aug 13 decision on ARK's filing might be a popcorn chewing event for price action as well.

All in all, the price of Bitcoin taking an uptrend or downtrend in the near future strongly lies in the hands of SEC's approvals towards various decisions and until then, we don't have any strong news which can push the price on either ways. Short trading at this moment, when the price action lies in the hands of SEC is a risky move which can have either a strong positive or negative effect on our investments.

[SirJake]

Then, about reaching $35K can happen in a week without any special positive news needed for it. This is normal for Bitcoin volatility. With very positive news it could reach that level in a day or two.

Last week there was news of XRP lawsuit victory. It was a huge news for crypto industry. Why do you think BTC cannot break the 31,000 level resistance despite such significant positive news?

I think it showing us market selling pressure.