Top Crypto Execs Confident SEC Will Approve Spot Bitcoin ETFs

[bbc.reporter]

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.

Are you implying that the speculations on approval of ETF before the end of 2023 from Mike Luna and auntie Cathie are completely wrong and should have no chance? I do not care if you and other people from this forum think that they are irrelevant because it can be argued that we small minnows are the irrelevant hehehe.

We should not act with arrogance because we do not own firms and hedgefunds that have millions of dollars to invest like auntie Cathie and uncle Mike.

Also, I am sharing the news because I want to know what everyone's thoughts on the approval based on Mike Luna and Cathie Wood's statements. Are they lying and hyping bitcoin to dump on November or are they speaking sincerely?

@kryptqnick. We cannot be certain on the likelihood of approval, I reckon. Uncle Gary and his nephews in the SEC have been controlling the decision process on the ETF and on what is a security-not a security.

[1714580332]

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[adaseb]

Yeah you got the Bloomberg analysis along with JP Morgan saying it will be approved within a few months. We also got Coinbase saying it will be approved also in a few months. I think also Grayscale said they think it will be approved before 2024.

In my opinion the JP Morgan one is the most vital and since they brought this up it means there is a good chance it’s going to be true. Same with the Bloomberg analysis however I don’t know exactly how accurate those Bloomberg polls are exactly.

[Lucius]

Are you implying that the speculations on approval of ETF before the end of 2023 from Mike Luna and auntie Cathie are completely wrong and should have no chance? I do not care if you and other people from this forum think that they are irrelevant because it can be argued that we small minnows are the irrelevant hehehe.

It does not necessarily mean that they are wrong, but did they say anything new that some others before them had not already said? What I want to say is that you give way too much attention to people who definitely don't deserve it, especially someone who spent months promoting a project that caused huge financial losses in the tens of billions of dollars.

Is there any difference at all between your old friend Tom Lee and these people who today you think know more than us mere mortals?

Also, I am sharing the news because I want to know what everyone's thoughts on the approval based on Mike Luna and Cathie Wood's statements. Are they lying and hyping bitcoin to dump on November or are they speaking sincerely?

They don't have the power to move the market in their favor, they just ride on a wave that was started long ago and wait to see what happens. In fact, no one cares what they think for any reason, because as I already wrote, their business decisions are not exactly something that gives them credibility.

[bbc.reporter]

@Lucius. I also do not care on what they think, however, what I want to speculate on is if they are doing these bullish predictions to create hype on bitcoin then dump on November 21 to create a sell the news occurence or are they doing this because they are also beginning to feel bullish emotions similar to much of us in the forum.

Are you also feeling the bullish emotion?

Also, thank you for reminding me on Tom Lee. I have forgotten about him. I will find some news updates hehe. All of my attention is on my new friend Jim Cramer hehehehee.

[adultcrypto]

Yeah you got the Bloomberg analysis along with JP Morgan saying it will be approved within a few months. We also got Coinbase saying it will be approved also in a few months. I think also Grayscale said they think it will be approved before 2024.

I also feel it is a matter of time before the ETF gets approved. The only aspect I doubt is it happening before 2024... I don't see that feasible because the most probable time should be 2024.

In my opinion the JP Morgan one is the most vital and since they brought this up it means there is a good chance it’s going to be true. Same with the Bloomberg analysis however I don’t know exactly how accurate those Bloomberg polls are exactly.

I share in your thought because JP Morgan will not put it out if it is not a credible information.  Knowing they are of the opinion that the Bitcoin ETF will be approved actually makes me optimistic that we are in for something great in the near future.

[Arenga pinnata]

The reason behind the postponement and postponement of approval by the SEC seems to give a sign that the SEC cannot reject the Spot Bitcoin ETF application that has come to their desk for approval. Because the SEC can't deny it. So they will just postpone it. But in the end it seems like the SEC will agree. So yeah, I agree with the saying that it's not about if but about when. We just have to wait for the final approval deadline. And it seems that when the Bitcoin Spot ETF is approved it will automatically strengthen Bitcoin's position in the world of digital finance and investment. And inevitably people who are initially cynical about Bitcoin will start to accept it too. Bullish seems to be in sight.

[bittraffic]

The reason behind the postponement and postponement of approval by the SEC seems to give a sign that the SEC cannot reject the Spot Bitcoin ETF application that has come to their desk for approval. Because the SEC can't deny it. So they will just postpone it. But in the end it seems like the SEC will agree. So yeah, I agree with the saying that it's not about if but about when. We just have to wait for the final approval deadline. And it seems that when the Bitcoin Spot ETF is approved it will automatically strengthen Bitcoin's position in the world of digital finance and investment. And inevitably people who are initially cynical about Bitcoin will start to accept it too. Bullish seems to be in sight.

I think they were denying it until Grayscale comes in to fightback. It just need a big tech company with deep pockets inorder for SEC to back away. Its like fighting back a bully.

If grayscale just have a good argument yet no money to last like Ripple labs I think they will just prolong the fight but I guess the situation changed because of the economy as well.

If they know something I think they are expecting to see BTC as currency reserve since the other pole (China) is using gold as reserve. I've read this somewhere.

[Gladitorcomeback]

The reason behind the postponement and postponement of approval by the SEC seems to give a sign that the SEC cannot reject the Spot Bitcoin ETF application that has come to their desk for approval. Because the SEC can't deny it. So they will just postpone it. But in the end it seems like the SEC will agree. So yeah, I agree with the saying that it's not about if but about when. We just have to wait for the final approval deadline. And it seems that when the Bitcoin Spot ETF is approved it will automatically strengthen Bitcoin's position in the world of digital finance and investment. And inevitably people who are initially cynical about Bitcoin will start to accept it too. Bullish seems to be in sight.

indeed the Sec doesn't want it but they is now way without accepting it. recently one fake news about ETF approvals create positive increase of price in the market. Now all eyes of people on the ETF approval which potentially occur in the first month of 2024. This approval will attract lot of Investors who think that Bitcoin is not safe investment and preferring trading through ETF tokens.

Yeah you got the Bloomberg analysis along with JP Morgan saying it will be approved within a few months. We also got Coinbase saying it will be approved also in a few months. I think also Grayscale said they think it will be approved before 2024.

I also feel it is a matter of time before the ETF gets approved. The only aspect I doubt is it happening before 2024... I don't see that feasible because the most probable time should be 2024.

According to below data the most of company last deadline for approval is January 2024. Ark and grayscale are the only companies which application could be approved before 2024. This is Bloomberg report which maybe wrong but I think there seems no approval in this year.

[KiaKia]

This ETF approval is getting more serious every day, many people are now focused on this approval, I wonder what will happen if this ETFs never get approved or they release a bad news that ETFs are never going to get approved, there will be another massive sell off isn't it?

Either way Bitcoin will be fine, it doesn't exists because of the ETFs so... But I will like to advice people not to be too dependent on this ETF thing, anything can still happen.

Maybe the fake news about ETF approval was a test to see if it will really impact the market condition, and now they have the answer already, just be prepared.

[Lucius]

@Lucius. I also do not care on what they think, however, what I want to speculate on is if they are doing these bullish predictions to create hype on bitcoin then dump on November 21 to create a sell the news occurence or are they doing this because they are also beginning to feel bullish emotions similar to much of us in the forum.

Let's be honest, they don't care what will happen to Bitcoin, they only care about the balances on their bank accounts and it's obvious that they will do everything to collect as much money as possible, even if it means lying and causing huge financial damage to others around them. November 21 is only one date that can be important, but if the SEC finally approves the spot ETF, it will only be in the final deadline, which is only at the beginning of next year.

After all, do you think that anyone with a bit of common sense would trust a character with a Luna tattoo on his shoulder?

Are you also feeling the bullish emotion?

In general, I can say that I feel that the halving is approaching, although this does not automatically mean that the bull run is starting now. We can speculate whether the current price increase is the result of speculation about the spot ETF, or whether the price is only recovering due to increased accumulation and something we can call the pre-halving effect.

Also, thank you for reminding me on Tom Lee. I have forgotten about him. I will find some news updates hehe. All of my attention is on my new friend Jim Cramer hehehehee.

Maybe you're kidding, but if you don't, stop showering us with the wisdom of that man, because even though there are a lot of confused people in the crypto world, he would definitely be one of those who could take the title of the most confused man

[icalical]

These people have absolutely no idea whats going to happen and they have as much information as we do, they are not going to know anything more than we do and if you trust them and make a decision based on what they say, then you are going to be let down. Just look at the tattoo and you will understand what I mean. Whatever you do, always check the information news, not speculation news, some of the news would be more like "FED has increased the interest rates x point more" and that's information, thats data and you should be considering that important, and some of them will be like "warren buffet said bitcoin is a scam", and thats not information, thats opinion, ignore those.

That is exactly my first thought on previous supposedly information from other High Profile like CEO / Founder of any company. On the contrary if they actually has an insider information I doubt they would bother to share it, they would use it for their own interest. Just like what they do when they share their 'information', they just want to get attention or else they want to increase their own company stock price by saying their ETF is going to be approved by SEC.

[panganib999]

They will despite the holdoffs that they are making. They themselves said that bitcoin is not like other cryptocurrencies out there in that it's not a security. So they can pretty much allow it to be traded in the US market just like any other stock out there. They are kind of delaying this for some reason and I'm thinking it's to make sure it coincides with the halving and the subsequent bull run that it will bring, but incidentally we all got jackshit information about what's going on, and I'm pretty sure these top "crypto execs" you're talking about don't know anything about the situation either, and they're just saying this to make sure no one's losing hope on the bitcoin dream. At the end of the day approved or not bitcoin will flourish. It's not like the US is the only country in the planet after all, and with their loosening grip to the world economy it would only be time until the crypto world stops needing them.

[buwaytress]

Member when top crypto execs (whatever does that mean, anyway, haha) were predicting several hundred thousand dollar Bitcoin rallies in 2018? Or actually,  more recently, when they were a lot more Conservative with 100k predictions a year or two ago?

The ones given the mic now are party crashers. Still believing they can influence.

We are in a good place. Natural halving and network pressures will effect the six-figure prices we crave. No need for the artificial corporate leanings of these ETFs.

[bbc.reporter]

@Lucius. I also do not care on what they think, however, what I want to speculate on is if they are doing these bullish predictions to create hype on bitcoin then dump on November 21 to create a sell the news occurence or are they doing this because they are also beginning to feel bullish emotions similar to much of us in the forum.

Let's be honest, they don't care what will happen to Bitcoin, they only care about the balances on their bank accounts and it's obvious that they will do everything to collect as much money as possible, even if it means lying and causing huge financial damage to others around them. November 21 is only one date that can be important, but if the SEC finally approves the spot ETF, it will only be in the final deadline, which is only at the beginning of next year.

After all, do you think that anyone with a bit of common sense would trust a character with a Luna tattoo on his shoulder?

Thank you for this reply and I agree which is also making me speculate that they might only be hyping bitcoin now to create a pump. We cannot be quite certain if they are trading bitcoin or the futures market, however, if they are, they should certainly dump before the SEC announces their decision on November 21.

Also, agreed that there are other scheduled deadlines, however, I wanted to ask more about November 21 because this is the last date for an approval this year. Mark Luna, aunt Cathie, JPMorgan and Coinbase have also made their declarations that an approval for a bitcoin ETF is a certainty before the end of 2023 and it appears their statements might either be an overestimation or a pump and dump hype.

[Rabata]

When the first ETF approval rumor's, the SEC made it clear to the public that they didn't approve any single ETF application but they said that they will further investigate those application and after completing those application they would published final results in January. But some investors are positively hoping that the approval of ETFs will be approved. Bitcoin's recent bullish movement has been steadily moving in that direction. But I don't think they will approve ETF at that particular time but if those ETF applications get approved then BTC definitely will get the ATH price.

[3kpk3]

More ETF approval rumours. Anyone with a half-decent brain can tell without a doubt that these rumours are baseless are silly since the SEC usually rejects ETFs and only approves a couple of them after detailed analysis.

The current bullish BTC run is inorganic and is great to sell your stash if you bought at a lower price earlier, but it won't last for long in my opinion.

[Lucius]

~snip~
Also, agreed that there are other scheduled deadlines, however, I wanted to ask more about November 21 because this is the last date for an approval this year. Mark Luna, aunt Cathie, JPMorgan and Coinbase have also made their declarations that an approval for a bitcoin ETF is a certainty before the end of 2023 and it appears their statements might either be an overestimation or a pump and dump hype.

My personal feeling combined with the attitude that the SEC has when it comes to spot ETFs tells me that they will use the maximum legal time they have to delay their decision, while at the same time they can come up with a good excuse why they will ultimately reject all requests. The only thing that is different this time is the involvement of a company that is very powerful and allegedly very closely connected to the top of US politics, and we all know that politicians are the ones who make decisions in the end, especially if they are motivated to do so.

In view of the upcoming presidential elections, a logical question arises whether the current politicians should anger some big players and not grant them something and thus take generous donations out of their pockets. It's no secret how the system works, and lobbying is something they've perfected in the US, right?

[bbc.reporter]

@Lucius. It appears that you might be proven correct. Cathie Wood might only be larping about this before end of the year ETF approval. Her investment firm Ark Invest has dumped Coinbase stocks and GBTC shares on the traditional market. I am quite certain she will also dump bitcoin on November 21 or before this date if she gets confirmation of a disapproval on the ETF from uncle Gary.



Cathie Wood's Ark Invest sold 42,613 shares of Coinbase and 100,739 shares of Grayscale Bitcoin Trust on Monday amid an ongoing bitcoin-led crypto rally.

Source https://www.theblock.co/post/259126/ark-invest-coinbase-gbtc-bitcoin-price-rallies

[Webetcoins]

The reason behind the postponement and postponement of approval by the SEC seems to give a sign that the SEC cannot reject the Spot Bitcoin ETF application that has come to their desk for approval. Because the SEC can't deny it. So they will just postpone it. But in the end it seems like the SEC will agree. So yeah, I agree with the saying that it's not about if but about when. We just have to wait for the final approval deadline. And it seems that when the Bitcoin Spot ETF is approved it will automatically strengthen Bitcoin's position in the world of digital finance and investment. And inevitably people who are initially cynical about Bitcoin will start to accept it too.

You got a point there but maybe they could have done something better than it if they really want to give a hope in the public because I think there is still a chance for them to deny or reject the proposal. My only advice to you and to others is don't hope too much. In case it got approved, I don't think the positive effects are going to be applied automatically but maybe it will still take some time for us to see it. It could be true that this ETF is the thing that some are waiting before they finally embrace BTC but maybe there are also some who will look for more developments and legalization. Oh well, that's their decision.

Bullish seems to be in sight.

Many of us are already bullish with BTC even before this news/rumor about ETF came in.

[bbc.reporter]

This article was published on October 24.

If this information is real, it appears that Blackrock is buying bitcoin already. It also appears that the pump on bitcoin might not be a pump and dump. This pump might be caused by Blackrock! I speculate that on October 30-31, we might witness a halloween pump. Blackrock likes to work on Monday and Tuesday, I have heard hehehehe.



Eric Balchunas, the Senior ETF Analyst for Bloomberg, pointed out on X an intriguing change in BlackRock's spot Bitcoin ETF amendment: The world's largest asset manager is planning to seed the fund this month.

The information was discovered by Scott Johnsson, an investor at Van Buren Capital, who also noted that BlackRock has obtained a CUSIP number for the ETF. A CUSIP number serves as a unique identifier for securities, which is essential at the time of issuance and trade settlement.

Source https://thedefiant.io/blackrock-plans-to-seed-its-spot-bitcoin-etf-in-october