Bitcoin F*cking ETF

[FASTPROFITTRADER]

All applications for BTC ETFs were rejected. do you think they are waiting for a moment on the chart to approve it?then we'll fly into space?

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Probably. Or probably not. What is just noticable about bitcoin spot ETF is that it would be approved by United States SEC in a time that will favour bitcoin price to move higher and higher it will go.

Bitcoin spot ETF is another reason that more people will have access, not directly but through bitcoin spot exchange traded fund.

[panganib999]

All applications for BTC ETFs were rejected. do you think they are waiting for a moment on the chart to approve it?then we'll fly into space?

I don't think everyone's that keen on the ETF too lol. People in here have been made aware of this news since the earliest parts of this year and everyone's just tired of hearing about it. On the other hand for sure it's going to pump bitcoin's value and that may well signal a bull run before the halving even commences but at the same time I don't think it's THAT sustainable per se. So people in here are just not that stoked anymore about the Bitcoin ETF. On the other hand, they're probably biding time until bitcoin's in a more desirable price point before they re-appeal this again and have SEC approve it. Whatever happens I don't think it's going to really help the common folk or whatnot.

[DapanasFruit]

I believe that we don't need that ETF approval much to push up the market value of Bitcoin as I always prefer that movements should be coming from retail investors and not from big financial firms that can be here just for profits. However, there is no question that an ETF can surely open up more avenues for the whole cryptocurrency industry as this can be a big vote of confidence and can signify that BTC has come of age. In summary, I have a 50-50 optimism for ETF though of course I would not mind much if Blackrock can use its influence for its approval if not this year then eventually.

[adaseb]

They were rejected because they were applications for the ETF and not a Bitcoin trust. Basically it’s the same thing but one has a greater chance of getting approved. And since it’s blackrock, pretty much all their etfs are approved by the SEC. So this one actually has a decent chance.

Same way how CME applied for Bitcoin futures and was approved. Same situation here and when the Bitcoin etf was approved for the derivatives on CME.

However what happened right after? A huge sell off.

[Text]

It may be possible or not possible.

It's possible. The price of Bitcoin has been relatively stable in recent months, and the SEC may be waiting for a clear trend to emerge before approving an ETF.
It could send the price of Bitcoin soaring. This is because an ETF would make it easier for institutional investors to invest in Bitcoin, which would increase demand and drive up the price. An ETF would provide a more liquid market for Bitcoin, which would make it easier for investors to buy and sell the cryptocurrency.


Or It's not possible. The SEC has been hesitant to approve any cryptocurrency ETFs, and it's possible that they will continue to reject applications until there is more regulation and oversight of the cryptocurrency market.

Only time will tell if the SEC will approve a Bitcoin ETF. But if they do, it could be a major catalyst for the cryptocurrency market.

[Sim_card]

If ETF is approved by SEC,this will help to pump bitcoin price since it will be easy to buy and sell bitcoin which will also help in massive adoption of bitcoin. On the other hand if the SEC refuses to approve it,I don't see anything that will change from the current movement of bitcoin price and bitcoin price will still pump when the time comes for a pump. The halving is next year and ATH next two years. The price of bitcoin will still reach the speculated price either with the acceptance of ETF or not. Bitcoin has come to stay and no matter what happens it will be follow the bitcoin circle. So let's worry less of the approval of ETF by SEC because demand and supply is what affects the price.

[mendace]

ETFs would surely make Bitcoin grow to another level but as I have already said in other threads I think that if they are released someone will get burned by a game first upwards and then sink btc while the whales will eat everything.

[Husires]

All applications for BTC ETFs were rejected. do you think they are waiting for a moment on the chart to approve it?then we'll fly into space?

Does Bitcoin need ETFs to be accepted globally or among people, rich or poor? Absolutely not, you can buy bitcoin in several ways, and it varies by country, and the rich can buy bitcoin through the OTC market. It is true that ETFs will facilitate the adoption of bitcoin, but without them, bitcoin is still working and adoption is still increasing.

Some Bitcoin ETFs are accepted in Canada and all ETFs that rejected in the United States.

[ImThour]

Who cares actually? I don't personally like the concept of ETF and I want them to directly buy in a similar fashion how Michael Saylor is doing with his company. Why do they need a Bitcoin ETF? just buy the way it's made to be bought and use it. These companies just want to earn from multiple small ventures by providing them with this ETF shit thing. I am happy it didn't passed. it's not like it's going to bring Bitcoin to $100k. If the demand was that high, you will see that in the price action.

[Poker Player]

Who cares actually? I don't personally like the concept of ETF and I want them to directly buy in a similar fashion how Michael Saylor is doing with his company. Why do they need a Bitcoin ETF? just buy the way it's made to be bought and use it. These companies just want to earn from multiple small ventures by providing them with this ETF shit thing. I am happy it didn't passed. it's not like it's going to bring Bitcoin to $100k. If the demand was that high, you will see that in the price action.

That's what I thought. In this forum we should care less. The only thing is that the approval of the Bitcoin ETF is supposed to throw a bullish sign into the market and bring in more institutional money. But that's the theory, that just as it can drive the price up it can drive it down. Imagine x famous company buying many millions of dollars in Bitcoin ETF and then after a year selling it. It would also affect the market negatively, just like when Tesla sold.

So, I don't worry, I keep accumulating real Bitcoin, not ETFs or shit, and that's it.

[un_rank]

Does Bitcoin need ETFs approved to grow in price? Definitely not. Bitcoin has in the space of 1 years drown faster than any other financial speculation and all that without any ETFs. Adoption has also not slowed down in any way due to lack of institutional investors.

The more traction we give to the discussion the more influence we give the SEC over the price of Bitcoin based on their decision to accept or reject an ETF bid.

- Jay -

[Z-tight]

If ETF is approved by SEC,this will help to pump bitcoin price since it will be easy to buy and sell bitcoin which will also help in massive adoption of bitcoin.

It has always been easy to buy BTC, if you don't care about your privacy, you can buy it in a centralized exchange, but if you do care, then there are enough decentralized exchanges to buy BTC, as for storing it, open source self custody wallets like Electrum, Sparrow and BlueWallet is great to use. I think even institutional investors should learn the right way to buy and store BTC, because not their keys, is not their coins.

do you think they are waiting for a moment on the chart to approve it?then we'll fly into space?

No, i don't think so, the process of an etf approval should not have anything to do with the chart or price movements.

[Dr.Bitcoin_Strange]

Does Bitcoin need ETFs approved to grow in price? Definitely not. Bitcoin has in the space of 1 years drown faster than any other financial speculation and all that without any ETFs. Adoption has also not slowed down in any way due to lack of institutional investors.

The more traction we give to the discussion the more influence we give the SEC over the price of Bitcoin based on their decision to accept or reject an ETF bid.

- Jay -

I agree with you, and I really don't know the majority of people that are in support of this ETF, but it really doesn't make much sense to me. Bitcoin is doing just fine without the ETF, and it's still going to do better even without the said ETF.

[Beparanf]

Does Bitcoin need ETFs approved to grow in price? Definitely not. Bitcoin has in the space of 1 years drown faster than any other financial speculation and all that without any ETFs. Adoption has also not slowed down in any way due to lack of institutional investors.

The more traction we give to the discussion the more influence we give the SEC over the price of Bitcoin based on their decision to accept or reject an ETF bid.

- Jay -

I agree with you, and I really don't know the majority of people that are in support of this ETF, but it really doesn't make much sense to me. Bitcoin is doing just fine without the ETF, and it's still going to do better even without the said ETF.

Agreed, I remember last year Bitcoin Futures ETF was approved and this one type of ETF that everyone is looking forward to be approve since this ETF hype arise on crypto space yet it doesn't change anything nor give huge impact on the price.

People is just using this news as things to look forward for better hype of the market even though it won't give a significant impact to the Bitcoin.

[Aanuoluwatofunmi]

All applications for BTC ETFs were rejected.

There's no conclusion on this yet, but several informations were giving indications for possible approval, we cannot predict the SEC, the bitcoin network does not rely either on this, if they like they should get approved or not, bitcoin remains what it has always been, the market will always pump and we will soon experience bullrun, I don't see much to take as concerning this spot bitcoin ETF approval by SEC, should in case it was eventually approved, what is the guarantee on bitcoin adoption by the governments?.

[BADecker]

Maybe my Bitcoins will be worth something after all. Anybody have any ideas of how to use the coin with an ETF to make big bucks? Should I buy the ETF when it comes out? Or will I be just as good simply hanging onto the Bitcoins? Thanks in advance.


SEC Likely to Approve Several Spot ETFs, Sparking Next Bitcoin Rally: Matrixport


https://finance.yahoo.com/news/sec-likely-approve-several-spot-124055427.html
The ETF providers would spend "considerable marketing expenses to draw in retail and institutional capital," Markus Thielen, head of research, wrote.

Matrixport noted that at its peak, the Grayscale Bitcoin Trust (GBTC) managed $43.5 billion in assets and generated annual management fees of $870 million.

The SEC will respond to Grayscale's GBTC lawsuit filing and ARK 21Shares bitcoin ETF refiling, next week. The regulator is expected to respond to seven other bitcoin ETF filings during the first week of September.

"A physical bitcoin ETF will likely carry a management fee of 0.7-1% which could still bring in $200m per annum for those ETF providers with marketing expenses front-loaded," the report said.

The note said that any SEC spot ETF approval could have a "material positive impact" on bitcoin's price, and investors should have enough "upside exposure" on any day that the regulator is scheduled to respond to the ETF applications.

If the SEC needs more time to assess the practicality of the surveillance-sharing agreements, then the bitcoin price may correct initially in mid-September, and this is the "dip to buy," the report added.

CoinDesk's parent company, Digital Currency Group, owns Grayscale.
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[blockman]

All applications for BTC ETFs were rejected. do you think they are waiting for a moment on the chart to approve it?then we'll fly into space?

Only time knows. Whether they're rejected or not, the market will still soar high. That's the common thing that we have but with these ETFs if they're approved, they're surely going to push the market into a crazier price. But then, it's a driving force that will contribute to the price of bitcoin to get it back to the bull run. Otherwise, they've helped the market to get at least a bit head of it but then if all of them were rejected, there's no need to be dependent on it. We've got halving which is the major force that will make the market push to the bull run and that's not dependent to these ETF approvals being done by the SEC. For now, we don't know if there will be more rejections or some more approvals and IIRC there have been approved in the past but it wasn't just covered by the media at all.

[Kemarit]

All applications for BTC ETFs were rejected. do you think they are waiting for a moment on the chart to approve it?then we'll fly into space?

We really don't know the answer for that. Perhaps if there is a change as far as those who are sitting in the SEC, and the replacement will be somewhat pro-Crypto then maybe we can see an approval.

So for now, we can't do anything about it. But the good news is that the market is going to survived, just like in the previous years without BTC ETF although I would agree that there could be influx of money in the market if this is approved, nevertheless we are all good for now.

[OgNasty]

The only explanation that truly makes any sense to me when looking at the situation from a regulator’s perspective is that they are aware of the mtgox bankruptcy mess and in order to reduce volatility both to the upside and downside, they are trying to time the mtgox distribution and ETF approvals in order for them to cancel each others’ effects to some degree.