SEC delays decision on spot Bitcoin ETFs as Congress members urge approval

[BADecker]

What I see from this is, the owners of the banking system control the SEC. And, they are against the US Congress. Why might they be? Because the US Congress sees Bitcoin and its ETFs as a way to make money that bypasses the banking system. And such might be okay, since the banking system is a corrupt operation that has been milking everybody, including government, for over 100 years.

If ETFs are allowed to come into being, the value of bitcoin could easily shoot past the moon, to the stars, and right out of the galaxy. And that's to say nothing about the ETFs themselves. The losers would be the banking systems of the free world, who have been financially raping everyone for the last hundred years or more.


SEC delays decision on spot Bitcoin ETFs as Congress members urge approval


https://www.dlnews.com/articles/regulation/sec-delays-decision-on-spot-bitcoin-etfs/
The US Securities and Exchange Commission delayed its decision on spot Bitcoin exchange-traded fund (ETF) applications from Cathie Wood's ARK Invest and fund manager GlobalX.

Tuesday's delay took market participants by surprise since the SEC had several weeks left to respond to both applications. A response to Ark's application, with digital asset manager 21Shares, was not due until November 11.
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[edmundduke]

I think this wasnt really a surprise that they delayed it (tho this is not fresh news, it happened a while ago). Eventually the ETF will pass, it has reached the stage of when, not if.

[avikz]

What I see from this is, the owners of the banking system control the SEC.

Were you on doubt? Banking lobby is the most strongest lobby in any government around the world.

This is not really surprising to be honest! SEC has been delaying ETF since a long time now and there's no hope for it to get approved anytime soon.

Actual game is being played in the background where we don't have much visibility yet. Thank God if the spot ETF is approved in 2023.

[Lida93]

Personally I fail to see how the banking system controls the SEC. Yea the banking system isn't proponent of bitcoin but that doesn't mean they control the SEC. There are banks that are already accepting transactions with bitcoin though it's not that rampant at the moment but it seems the bank are gradually giving in to the bitcoin trend cause they understand fully well the potential of bitcoin more than the ordinary individual.
The delay of ETF is totally a SEC decision not banks influence.

[DapanasFruit]

The banking system can actually make money out of the ETFs that will be approved as they can just piggy-back into something that has a big demand from their clients...acting as a broker in the whole transaction. Now, the problem really is the SEC itself especially its current chairman who is known to be anti-crypto and is waging a worthless crusade with the end view of controlling everything on it instead of concentrating on crafting an acceptable legislation for the regulation of the whole industry for good. SEC should be fighting the many scams and frauds happening all over...yet they failed with the implosion of FTX and that means SEC is not actually doing its job and it is now acting as if morally superior to all.

[Poker Player]

What I see from this is, the owners of the banking system control the SEC. And, they are against the US Congress. Why might they be? Because the US Congress sees Bitcoin and its ETFs as a way to make money that bypasses the banking system.

You are not making sense. To make money with an ETF is going to bring tax revenue to the state coffers and in many cases will be offered by bank brokers or linked to them. That already happens with stock ETFs.

If you were to say that Congress is against Bitcoin because it can be used as P2P cash, it would make more sense, although this use is currently in the minority.

[Husires]

I do not think that Bitcoin has reached the stage of being dangerous to American society to the point that Congress is trying to fight it with a set of laws. We have a market capacity of about 300 millibars, and in the best case scenario it will be 3 trillion, which is the government’s spending in one year compared to a debt equal to 32 trillion.

[legendbtc]

I think ETF approval is just a matter of time, the SEC cannot delay it forever without a good reason. What I suspect is that the SEC and some other big guys are also manipulating the market, they will accept it but need the right time to legalize it. Like BlackRock's recent comment, ETFs will be approved within the next 3 to 6 months and it will also coincide with the bitcoin halving. There is no better time than the halving and upcoming bull cycle for ETF approval.

[MusaMohamed]

What I see from this is, the owners of the banking system control the SEC. And, they are against the US Congress. Why might they be? Because the US Congress sees Bitcoin and its ETFs as a way to make money that bypasses the banking system. And such might be okay, since the banking system is a corrupt operation that has been milking everybody, including government, for over 100 years.

A first Bitcoin Spot ETF approval in the USA. is a very massive news for Bitcoin and cryptocurrency market so I bet it will not be approved in 2023 or before 2024 halving in April 2024.

Considering it as a massive news that can lit up a fire for the market, attract more capital into this market, I believe it must happen in a bull run, not in 2023 or in first quarter of 2024 when market will not be heated up enough. What is happening in the US. Congress is unexpected and is just coincidence. Without it, I believe SEC. would also delay their final decisions on those Bitcoin Spot ETFs and we will have to wait for more months to know.

[adaseb]

Weren’t all of these delayed last Friday due to the upcoming potential US shutdown which would cause SEC to also shutdown and those etfs automatically would get approved. Hence why they delayed them all early.

Most likely if they are approved it won’t be until next year. I think blackrock has a good chance of getting approved, don’t know about the rest. There is also the chance that it might get approved early before the deadline, it doesn’t need to get approved on the very last day necessary.