Top Crypto Execs Confident SEC Will Approve Spot Bitcoin ETFs

[AmoreJaz]

I strongly believe that SEC will eventually approve bitcoin ETF. It may not happen today or tomorrow but surely in the future. The way SEC and FBI is moving against the actual Bitcoin and other cryptos, they will have to make some alternatives available in the market before banning the actual assets. ETFs are usually not settled physically so they will eliminate the crypto risk from the economy and also provide an option for the investors to enjoy the price changes of Bitcoin.

well, we have seen with or without BTC ETFs, this market is continuously growing. so whatever SEC is planning here, this market will continue to thrive. they may influence the adoption but it won't stop the crypto or btc market to proliferate. and they have seen that even banning this market by big economies like China, this market didn't top from growing. so yeah, they will eventually approve those btc ETFs.

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[1714582539]

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[bbc.reporter]

It never dies because there are pending applications on it. My question was on the ETF storyline, if it is very much alive or dying. There was a small pump which has recently occured and I wanted to know if it might be the beginning of a much bigger pump based on if the ETF storyline is alive or dead. Also, it is another chance to laugh at the clown with the Luna tattoo ehehehee.

I didn't misunderstand I was referring exactly to the ETF storyline, hence why I referred to 2017 which was the start of the storyline. It should have died many times but media and people seem to think it's still worthy of ressurection lol

I promise you, just as with every ETF application or storyline, there will be no big pump after approval

I agree that hyping the storyline is not a certainty in pumping the price. However, I very much disagree on the speculation that there will be no pump after approval. Do you remember CZ's billion dollar twap on March 12? There will be several of these billion dollar twaps once the SEC approves all of the applications of Blackrock, Fidelity, Vanguard, Ark Invest and the others. The pump on bitcoin will melt faces.

[Darker45]

They should be confident. After all, it's their applications that are on the line. They cannot just be pessimist in front of the camera or the public. These people are always bullish. They are always positive. That's what they have to do. They always give exaggerated predictions. They're invested in it heavily. Besides, they're probably trying to influence the public as much as possible. They're probably trying to condition their minds. They are the ones who will benefit more than anybody when their attempt to cause a FOMO succeeds.

[slaman29]

~snip~
I promise you, just as with every ETF application or storyline, there will be no big pump after approval

I wouldn't bet that something like that won't happen, because companies that want spot BTC ETF are not amateurs who go into something without doing everything possible to succeed. I am primarily thinking of BlackRock and Fidelity, but also of many other smaller companies that are waiting for their opportunity in this business. In the event that the SEC approves such an ETF, the media will certainly do their job, and those companies will certainly allocate some funds to promote this way of investing in Bitcoin even more.

Talks about BTC ETF are one thing, and even approval for futures ETF - and spot ETF is something completely different, because in the event that investor interest is high, it means that demand will probably exceed supply.

Fair enough I guess. Spot ETF is definitely something else on its own, and for me, if I'm wrong I would be very happy with my mistake if this approval leads to the demand ETFs are supposed to bring

I agree that hyping the storyline is not a certainty in pumping the price. However, I very much disagree on the speculation that there will be no pump after approval. Do you remember CZ's billion dollar twap on March 12? There will be several of these billion dollar twaps once the SEC approves all of the applications of Blackrock, Fidelity, Vanguard, Ark Invest and the others. The pump on bitcoin will melt faces.

I actually don't remember at all but that's my blindness towards social media these days.

Hope you're right, waiting for my face to melt

[Lucius]

I strongly believe that SEC will eventually approve bitcoin ETF. It may not happen today or tomorrow but surely in the future. The way SEC and FBI is moving against the actual Bitcoin and other cryptos, they will have to make some alternatives available in the market before banning the actual assets.

As far as I know, the SEC has nothing against Bitcoin, or at least not to the extent that it attacks the shitcoins industry, and I don't know where you get that the FBI is going against Bitcoin?

ETFs are usually not settled physically so they will eliminate the crypto risk from the economy and also provide an option for the investors to enjoy the price changes of Bitcoin.

You seem to be a bit lost in this story, because here we are talking about spot BTC ETF, which means that funds will have to buy BTC in order to issue shares in the fund - and futures BTC ETFs are already approved in the US anyway.

Fair enough I guess. Spot ETF is definitely something else on its own, and for me, if I'm wrong I would be very happy with my mistake if this approval leads to the demand ETFs are supposed to bring

However, this is only an assumption, we will see the real results only if such an ETF is approved. What is definitely certain is that there is a big difference between futures and spot BTC ETF and that it is wrong to think that absolutely nothing will happen if such an ETF becomes available on the world's richest market.

[thecodebear]

Gensler's term as chair of SEC doesn't end until June 2026. So no chance for an ETF approval for at least 3 years. As we all well know, Gensler has been very anti-Bitcoin and anti-Crypto. There's no way he lets an ETF through. The talk of Blackrock's ETF getting approved is no different than talk of every other ETF over the past like 6 years getting approved. It's all hopium. Though unlike earlier attempts from years ago, we have a fervently anti-Bitcoin SEC head now so even the hopium is just pure fantasy at least for the next three years.

A couple top crypto execs saying something doesn't make it true. Top crypto execs have plenty of times in the past made completely absurd speculations. People should forget about this ETF stuff for now, we are years away from an ETF. I think it'll happen this decade, but it'll be 2027 or later.

[bbc.reporter]

Gensler's term as chair of SEC doesn't end until June 2026. So no chance for an ETF approval for at least 3 years. As we all well know, Gensler has been very anti-Bitcoin and anti-Crypto. There's no way he lets an ETF through. The talk of Blackrock's ETF getting approved is no different than talk of every other ETF over the past like 6 years getting approved. It's all hopium. Though unlike earlier attempts from years ago, we have a fervently anti-Bitcoin SEC head now so even the hopium is just pure fantasy at least for the next three years.

A couple top crypto execs saying something doesn't make it true. Top crypto execs have plenty of times in the past made completely absurd speculations. People should forget about this ETF stuff for now, we are years away from an ETF. I think it'll happen this decade, but it'll be 2027 or later.

However, you might have forgotten that uncle Gary also mentioned that everything in the cryptospace is a security except bitcoin hehehe.

Also, hopium? You might be underestimating Blackrock. I would never bet against them on not getting their application approved before Gensler's steps down as SEC chairman on 2026.



SEC Chair Gary Gensler reiterated that Bitcoin is not a security but a commodity under the Commodity Futures Trading Commission (CFTC) purview. He also stated that “everything else other than bitcoin is a security,” which has significant implications for regulating cryptocurrencies and digital assets in the United States.

Source https://cryptoslate.com/sec-chair-gensler-confirms-everything-other-than-bitcoin-is-a-security-implications-and-analysis/

[bbc.reporter]

Those skeptical people might be correct in their skepticism on the news about these top executives' confidence on the approval of the ETF. I shared the news on August 9, however, after 6 days bitcoin bitcoin was being dumped.

There is presently another former top executive that declared his confidence that an approval will be within 3 to 6 months according to the social media accounts of Coingraph and Coinsumption. Should be expect another dump? Are these positive ETF news being shared because the whales want exit liquidity?



OPINION: The U.S. Securities and Exchange Commission (SEC) will register the first spot Bitcoin ETF within three to six months. This opinion was expressed by former managing director of BlackRock, Stephen Schoenfeld.

Source https://twitter.com/coingraphnews/status/1711028298954715353



BREAKING:

Former BlackRock Managing Director, Stephen Schoenfeld, believes the SEC will register the initial spot Bitcoin ETF within the next three to six months.

Source https://twitter.com/coinsumption/status/1711058345933553941

[Fundamentals Of]

If this is a chess game, Gensler's SEC has only one piece left and that's the king. The Bitcoin Spot ETF applicants and the Bitcoin supporters are still left with a handful of pieces. In other words, Gensler's SEC can only delay what's about to definitely happen. But we know that the end will be a check mate for the SEC.

SEC has repeatedly been postponing the decision, but that's almost the only thing that they can do. The final deadline will eventually come whether they like or not and they will have to decide. If the decision is an approval, then that has always to be the end. But if the decision is rejection, the next round of applications will bring everything back to square one. The goal of having a Bitcoin spot ETF won't die. This will go on and on until the SEC is left with no reason to once again issue a rejection.

[DapanasFruit]

The whole cryptocurrency industry is awaiting for the eventual approval of ETFs whose applications are now pending in the cabinet of Gary Gensler's SEC. Now, which application can finally get the nod of SEC is something that is good to watch and how this can be impacting Bitcoin and the rest of the industry. I am quite confident that SEC will have no more choice but to approve one application in 2024 and making sure that strict enforcement of regulations is in place. I am just wondering how many of us here will be investing in an ETF for Bitcoin rather than directly own a Bitcoin...

[FinneysTrueVision]

Those skeptical people might be correct in their skepticism on the news about these top executives' confidence on the approval of the ETF. I shared the news on August 9, however, after 6 days bitcoin bitcoin was being dumped.

There is presently another former top executive that declared his confidence that an approval will be within 3 to 6 months according to the social media accounts of Cointelegraph and Coinsumption. Should be expect another dump? Are these positive ETF news being shared because the whales want exit liquidity?



OPINION: The U.S. Securities and Exchange Commission (SEC) will register the first spot Bitcoin ETF within three to six months. This opinion was expressed by former managing director of BlackRock, Stephen Schoenfeld.

Source https://twitter.com/coingraphnews/status/1711028298954715353



BREAKING:

Former BlackRock Managing Director, Stephen Schoenfeld, believes the SEC will register the initial spot Bitcoin ETF within the next three to six months.

Source https://twitter.com/coinsumption/status/1711058345933553941

That's the twitter account for Coingraph, not Cointelegraph. I'm not sure how trustworthy that site is but having a name so confusingly similar as a well known crypto news website seems kind of sketchy.

It's only natural for executives to be optimistic. That's been the general sentiment for a while. There isn't any rational reason to keep denying applications. Whales will always look to take advantage whenever there is a hyped up event happening. Whenever there is disappointing news of course they will dump but they are not necessarily the ones who created the hype for their own selfish reasons.

[bbc.reporter]

@FinneysTrueVision. Thank you and agreed. I was also looking for the source in their websites and on google. I cannot find them, however. This might be paid for tweets from whales who might be trying to hype everyone before they start dumping on out faces again?

[Kemarit]

@FinneysTrueVision. Thank you and agreed. I was also looking for the source in their websites and on google. I cannot find them, however. This might be paid for tweets from whales who might be trying to hype everyone before they start dumping on out faces again?

Yeah, it's possible that we might see some whales or entities that wanted to push for SEC to approve the Spot Bitcoin ETF. So I wouldn't be surprised if there is such an army at the same time there could also be at the other side of the spectrum creating FUD around.

It might be inevitable though that approval is coming, just a matter of time for Gensler to give it a green light. And I think that there is huge pressure on SEC right now as obviously, the biggest name in the financial industry are putting everything they can to be in this space. If this happens then we can say that crypto is here to stay and no one can stop it.

[bbc.reporter]

News update. Mike Novogratz with the Luna tattoo has again declared with confidence that one of the bitcoin spot ETF applications will be approved before the end of 2023.

We have witnessed how these crypto CEOs like CZ, Justin Sun and Sam Bankrupt-Fraud are very much similar to clowns, hustlers and scammers. I reckon with the Luna tattoo on his arm, Mike Novogratz might be included in the clown category hehe. However, what does everyone speculate on his prediction? Does everyone agree or disagree?



A spot bitcoin exchange traded fund is coming as soon as 2023, according to Galaxy Digital CEO Mike Novogratz.

The billionaire crypto bull pointed to multiple requests by firms to launch a spot bitcoin ETF over the past year. Those will undoubtedly be approved by the Securities and Exchange Commission, and that could come as soon as before the end of 2023, Novogratz said in an interview with CNBC on Wednesday.

"It's going to get approved … We think it happens this year in 2023," Novogratz said. "All the indications of dealing seem to be heading in the right direction."

Source https://markets.businessinsider.com/news/currencies/spot-bitcoin-etf-outlook-crypto-mike-novogratz-sec-approval-blackrock-2023-10

[adaseb]

Gary was on tv today talking about the etf approval process. Judging by how he was talking I am leaning that eventually they will be approved. Normally he is very negative at crypto anything but the way he talked during this interview made it seem that they need to approve it eventually.

The question is when. It might not be in 2023 because we basically got 2 months left and excluding holiday and another government shutdown there isn’t much time. But most likely sometime in first half of 2024.

[headingnorth]

NY Attorney General filed a lawsuit today against Digital Currency Group the provider of Grayscale Bitcoin Trust.
How much will this impact the chances to convert the Trust to spot ETF? I'm surprised bitcoin price is still pumping right now despite this news.

[dansus021]

In fact, there is dozen of a new report that the SEC is going to approve the Bitcoin ETF including "BlackRock CEO Larry Fink Calls Bitcoin Pump A “Flight to Quality”" - https://cryptopotato.com/blackrock-ceo-larry-fink-calls-bitcoin-pump-a-flight-to-quality/

or the recent news "JPMorgan expects spot bitcoin ETF approvals to come 'within months'"
The Securities and Exchange Commission will likely approve multiple spot bitcoin exchange-traded fund applications soon, given it did not appeal a recent ruling in the case brought against it by Grayscale Investments, according to JPMorgan.

"The timing of spot bitcoin ETF approvals remains unclear but should happen within months and most likely before Jan. 10, 2024, the final deadline of Ark Invest and 21Shares applications," JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report on Wednesday. "This is the earliest among the various final deadlines faced by SEC across spot bitcoin ETF applications."

Last week, the SEC let its appeal deadline lapse in the Grayscale case, where the asset manager had won in court the previous month.

There is now "increased optimism for multiple spot bitcoin ETF approvals," the JPMorgan analysts said. Last month, the analysts noted that the SEC would likely be forced to approve spot bitcoin ETFs as a result of the court ruling. - https://cryptonews.net/news/bitcoin/27712619/

[bbc.reporter]

Gary was on tv today talking about the etf approval process. Judging by how he was talking I am leaning that eventually they will be approved. Normally he is very negative at crypto anything but the way he talked during this interview made it seem that they need to approve it eventually.

The question is when. It might not be in 2023 because we basically got 2 months left and excluding holiday and another government shutdown there isn’t much time. But most likely sometime in first half of 2024.

Are we beginning to witness more optimism on an approval? When I share news about ETF approval before, the replies from the forum influencers were more negative than positive. Presently it is no reply or some positive replies.

In any case, now that everyone is optimistic, I am beginning to be more skeptical hehehe. The news on more crackdowns from the American government because they claim that Hamas is using bitcoin might influence uncle Gary to reject the next scheduled application on Novermber 17.

However, the pump on bitcoin might not stop because this pump presently might not be about the ETF. This might be something similar to what George Soros and his group are doing before. Powerful people create fear on the market when they are buying and create hype when they are selling.

[Lucius]

Are we beginning to witness more optimism on an approval? When I share news about ETF approval before, the replies from the forum influencers were more negative than positive. Presently it is no reply or some positive replies.

Maybe because you give space on this forum to people who have already proven that they are completely irrelevant in every sense, and you call them some kind of top experts. Who cares what Mike Luna or some Cathie think when they turn everything they touch to ash.

In any case, now that everyone is optimistic, I am beginning to be more skeptical hehehe. The news on more crackdowns from the American government because they claim that Hamas is using bitcoin might influence uncle Gary to reject the next scheduled application on Novermber 17.

I heard that in 99% of cases this organization is financed with the US dollar, will something be done about it or will we continue to hear that Bitcoin is only used by terrorists and criminals?

However, the pump on bitcoin might not stop because this pump presently might not be about the ETF. This might be something similar to what George Soros and his group are doing before. Powerful people create fear on the market when they are buying and create hype when they are selling.

It all started with a fake news about the BTC ETF, and it seems that the average internet user has not yet realized that the news is fake - or maybe they have started to understand what the spot ETF could mean for the price of BTC. I think that some trends speak for themselves.

[kryptqnick]

Since the topic is once again relevant and active, I'd just add new info as well. A 6-day-old article by Bloomberg mentions that their analysts consider the chance of Bitcoin ETF approval by the SEC before January, 10, to be 90%. It's a very high level of confidence, and while I've been sceptical about the SEC ever approving a Bitcoin ETF, I must admit that I surely know less about the topic than Bloomberg analysts do, so I must account for the high likelihood of an approval. Perhaps opinions of some people who were sceptical are changing as well for similar reasons.