Blackrock ETF Discussion

[pure_happiness_inside]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

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[Tytanowy Janusz]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

It disappeared, but only for a few hours. Now it is visible again.

https://www.dtcc.com/products/cs/exchange_traded_funds_plain_new.php

It is possible that this was a form of deliberate manipulation. The main question - who lists ETFs on this list and based on what criteria? You will find the answer to this question and you will have an answer to how important this entry is.

[LSDadventure]

It disappeared, but only for a few hours. Now it is visible again.

https://www.dtcc.com/products/cs/exchange_traded_funds_plain_new.php

It is possible that this was a form of deliberate manipulation. The main question - who lists ETFs on this list and based on what criteria? You will find the answer to this question and you will have an answer to how important this entry is.

They tried to say it was there since August this year, to clear the fud and attack against their service.

But it's hard to believe that the iBTC ticker was there since August and no one knew about it till October.

[goldkingcoiner]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

Oh I think that an ETF is coming but perhaps not as soon as we all hope and speculate. The current pump is 100% speculation hype, I would say. 

But that does not mean that that is a bad thing. It just means that people are investing in Bitcoin ahead of the ETF, although nobody really knows when an ETF is coming but they are excited because it is definitely coming now, after there are no more obstacles which would stop it.

But who knows? We have been in for disappointments in the past as often as we have been in for nice surprises.

Either way, time to hodl

[Yaunfitda]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

Yeah, it is very uncanny for them to removed the ticker when someone notice it on their website. So it could be that they just made a big and honest mistakes on their end, or they wanted to see the pulse of the crypto world and see what will be the reaction. And so obviously, it created a lot of noise and pushes the price to $35k. And the good thing is that even after they have taken it down, the prices keeps on that price range.

As for the ETF coming soon, yeah, the pressure is now on SEC to approved it. There are big guys playing on the market right now, too influential that the SEC can't really do anything about it but to approved it. And most likely it will coincide with the bull run in the next year.

[pooya87]

The chances of an ETF being approved inside US is still minimal whereas there are a bunch of ETFs in a lot of other countries around the world already
In other words people are still making ETF much bigger than it really is and the hype is not even as big as some people speculate and even link it to the recent small rise. It is not the first time there is such hype and when something is "overused" it loses its hyped nature...

[Z-tight]

But who knows? We have been in for disappointments in the past as often as we have been in for nice surprises.

I am not so concerned about BTC spot etf approval in the U.S., i have read from so many members in this forum that an approval is a matter of when and not if, but even if all applications get denied; i wouldn't be disappointed. I talk a lot about not your keys, not your coins, so maybe that is why i am not fully interested in spot etf's.

If institutional investors want to buy through etf's and do not want to store the keys to their coins, so be it, it is a free market and a spot etf approval would give them the opportunity to 'own' BTC. But then again, i wouldn't keep on talking about BTC spot etf's like the network depends on it, and that's what many members have been doing here lately.

[tbct_mt2]

The chances of an ETF being approved inside US is still minimal whereas there are a bunch of ETFs in a lot of other countries around the world already
In other words people are still making ETF much bigger than it really is and the hype is not even as big as some people speculate and even link it to the recent small rise. It is not the first time there is such hype and when something is "overused" it loses its hyped nature...

They are making Bitcoin Spot ETFs and Bitcoin Spot ETFs in the USA. bigger than those services actually are.

Their exaggeration of Bitcoin Spot ETF importance instantly reminds me about some similar exaggeration in the past, with Bitcoin Futures. In 2017, Bitcoin Futures is something like dream and I can not forget how CME and CBOE Bitcoin Futures gave Bitcoin very last booster to its 2017 all time high.

After 6 years, now in 2023, what are importance of Bitcoin Futures?
How many Bitcoin Futures we have today in 2023?
More interesting question, how many Bitcoin Futures in 2022 when Bitcoin was below $16,000 that is lower than 2017 all time high?

[bittraffic]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

Yeah, it is very uncanny for them to removed the ticker when someone notice it on their website. So it could be that they just made a big and honest mistakes on their end, or they wanted to see the pulse of the crypto world and see what will be the reaction. And so obviously, it created a lot of noise and pushes the price to $35k. And the good thing is that even after they have taken it down, the prices keeps on that price range.

As for the ETF coming soon, yeah, the pressure is now on SEC to approved it. There are big guys playing on the market right now, too influential that the SEC can't really do anything about it but to approved it. And most likely it will coincide with the bull run in the next year.

They will approve it but at the time when we don't expect it. Something like there is an element of surprise and the regular people are not able to buy. For now, SEC may actually wait for the BTC ETF news to die down and none of the crypto news sites will publish about it anymore.

Once people\s attention are once again drawn to some war somewhere, the SEC will secretly approve ETF and list it like it was approved months ago.

[Inwestour]

As for the ETF coming soon, yeah, the pressure is now on SEC to approved it. There are big guys playing on the market right now, too influential that the SEC can't really do anything about it but to approved it. And most likely it will coincide with the bull run in the next year.

What is happening now is manipulation, this is something that the cryptocurrency market has always responded well to, positive news makes it rise, and negative news turns it red, so since this is manipulation, I expect a subsequent fall, and ETFs will most likely not be accepted so quickly how we would like it. My guess is that we need to wait a little longer for this to happen, and this could coincide with the start of the bull market in 2024, although if Bitcoin continues to rise now, then perhaps the bull market for Bitcoin has already begun.

[goldkingcoiner]

But who knows? We have been in for disappointments in the past as often as we have been in for nice surprises.

I am not so concerned about BTC spot etf approval in the U.S., i have read from so many members in this forum that an approval is a matter of when and not if, but even if all applications get denied; i wouldn't be disappointed. I talk a lot about not your keys, not your coins, so maybe that is why i am not fully interested in spot etf's.

If institutional investors want to buy through etf's and do not want to store the keys to their coins, so be it, it is a free market and a spot etf approval would give them the opportunity to 'own' BTC. But then again, i wouldn't keep on talking about BTC spot etf's like the network depends on it, and that's what many members have been doing here lately.

Well you should be concerned. As the largest institutional Bitcoin investors are in the US. Furthermore it will promote Bitcoin adoption in a country which has, historically, been pushing against Bitcoin (albeit unsuccessfully ).

And yes, the other members in the forum that told you that the approval of an ETF is only a matter of time are completely right. It is now only a matter of time as there are no more hurdles in the path of a Bitcoin ETF.

The main speculation is WHEN. Thats what this hype and current pump is all about.

[panganib999]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

Oh I think that an ETF is coming but perhaps not as soon as we all hope and speculate. The current pump is 100% speculation hype, I would say. 

But that does not mean that that is a bad thing. It just means that people are investing in Bitcoin ahead of the ETF, although nobody really knows when an ETF is coming but they are excited because it is definitely coming now, after there are no more obstacles which would stop it.

But who knows? We have been in for disappointments in the past as often as we have been in for nice surprises.

Either way, time to hodl

I would agree. They'd milk the fuck out of this cow first before they sell it off the market for scrap meat. They've been biding their time all this time and it's particularly suspicious that Gary Gensler couldn't talk about what's going to happen to bitcoin ETFs after the prior ones. I don't know just might be the skeptical in me but I just can't picture in my head a world where he doesn't know what's going to happen to bitcoin ETFs from here on out. In any case, I don't really count on this ETF or whatever for bitcoin's price increase, it's a little fickle for me and we needed something more sustainable if we want to have something like the 2020s where everything outright pumped out of control.

[R100K-Martin-Lunger]

I believe we’re blowing the impact of ETFs out of proportion. Of course, spot ETFs will help drive Bitcoin’s value higher and might even create a threshold of resistance, which will be good for all of us, but this isn’t the only way Bitcoin will go up.

Bitcoin is a sophisticated currency. It’s the first of its kind in many ways. Its independence and potential for growth are why these institutions want to get a piece of the pie, but that won’t be the start or end of anything.

Those who continue to hold their investment in Bitcoin will continue to benefit as it grows in value. I’m more focused on when Bitcoin will hit $100K than when the US gets its first spot Bitcoin ETF.

[lombok]

ETFs are still being debated among SEC officials, there are pros and cons. Considering that the SEC is still pursuing XRP, I don't think Bitcoin or crypto can be fully accepted by the SEC. We will know that the ETF will be approved when the SEC is really done with XRP and supports the development of XRP and crypto. Currently the issue regarding ETFs may still be just rumors and hype to attract the crypto market, but I am sure Bitcoin ETFs will be accepted but we have to wait for the time.

[TheUltraElite]

People have been linking the current price pump to ETF, but I dont go in that line, because I think a price change is due to multiple reasons and pinpointing one reason to it is an oversimplification. At present, just like what happened a few years back the news of Bitcoin ETF and its entry in the market developed a hype that eventually died out.

Let the SEC make their calls and get a final decision out. When it comes it will come, and we will all see ETFs on the exchanges. Till then it is speculative new piece, with people trying to make money off the hype and not the ETF.

[Texac]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

That's what they say, but no one can confirm that what they say is true, we should not be too naive and easily believe what they say.  I don't believe they listed the blackrock's ETF in August, that sounds wild.  if you check DCCT's website right now, you'll also see that ARK Invest's ETF was also listed a few days ago.  it's absurd that they listed IBTC in August and they haven't listed ARKK until now.  all are acts aimed at manipulating the market. 
But whatever the reason behind it, we don't need to worry too much, I think what we should be more concerned about is that ETFs will almost certainly be approved and we need to really prepare for that.

[WeThePe0ple]

ETFs are still being debated among SEC officials, there are pros and cons. Considering that the SEC is still pursuing XRP, I don't think Bitcoin or crypto can be fully accepted by the SEC. We will know that the ETF will be approved when the SEC is really done with XRP and supports the development of XRP and crypto. Currently the issue regarding ETFs may still be just rumors and hype to attract the crypto market, but I am sure Bitcoin ETFs will be accepted but we have to wait for the time.

Just a question from a non expert.

If an ETF gets approved and it causes a liquidity crisis in regular banks (people massively withdrawing funds to invest in BTC) wouldn't that be an argument for governments to disprove an ETF?

Nixon once forbade the convertibility from dollars into gold, to protect the monetary stability of the USA. I wonder if we can expect similar measures against BTC. I'm from Europe and I just heard that I can't send money to Binance anymore. In fact I wonder how I still have to invest in BTC safely

[adultcrypto]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

It disappeared, but only for a few hours. Now it is visible again.

https://www.dtcc.com/products/cs/exchange_traded_funds_plain_new.php

It is possible that this was a form of deliberate manipulation. The main question - who lists ETFs on this list and based on what criteria? You will find the answer to this question and you will have an answer to how important this entry is.

Like you rightly said, it is all about market manipulation. I have always known that the market will not make any major move without those manipulations because that is how the big guys take their position or liquidate their assets. To them, it is all a game. First it was a wrong tweet from Cointelegraph and now Blackrock ETF listing even when approval, by SEC, have not been granted. Anyone who can connect the dots will know what this is all about.

It has become very difficult knowing what next for the market as the momentum from these events seems to be fading away.

One thing that is certain is that next year will be great for Bitcoin irrespective of what happens now. The present developments in the market might just be the big players taking position and we should follow them in the game so we are not left behind.

[lombok]

ETFs are still being debated among SEC officials, there are pros and cons. Considering that the SEC is still pursuing XRP, I don't think Bitcoin or crypto can be fully accepted by the SEC. We will know that the ETF will be approved when the SEC is really done with XRP and supports the development of XRP and crypto. Currently the issue regarding ETFs may still be just rumors and hype to attract the crypto market, but I am sure Bitcoin ETFs will be accepted but we have to wait for the time.

Just a question from a non expert.

If an ETF gets approved and it causes a liquidity crisis in regular banks (people massively withdrawing funds to invest in BTC) wouldn't that be an argument for governments to disprove an ETF?

Nixon once forbade the convertibility from dollars into gold, to protect the monetary stability of the USA. I wonder if we can expect similar measures against BTC. I'm from Europe and I just heard that I can't send money to Binance anymore. In fact I wonder how I still have to invest in BTC safely

These may be just some of the effects. Liquidity crises in banks can also be influenced by other factors, such as the issue of bankruptcy in a country which causes panic among customers to make large withdrawals and other factors. In essence, the SEC and the world's top economic regulators are looking for a loophole, if they get it then ETFs and bitcoin will be legally accepted.

Gold has long been a currency as well as an investment, but after the fiat currency system was created, gold was replaced and only became an investment asset, as well as Bitcoin, which has only been a safe haven investment until now. There is still fear from the system controllers that fiat currencies will be disturbed by Bitcoin and gold. Therefore, the SEC as the front guard must be careful in determining anything that has the potential to damage the system.

*This is just my personal opinion, and may be wrong and without proper data arguments.

[DapanasFruit]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

Oh I think that an ETF is coming but perhaps not as soon as we all hope and speculate. The current pump is 100% speculation hype, I would say. 

But that does not mean that that is a bad thing. It just means that people are investing in Bitcoin ahead of the ETF, although nobody really knows when an ETF is coming but they are excited because it is definitely coming now, after there are no more obstacles which would stop it.

But who knows? We have been in for disappointments in the past as often as we have been in for nice surprises.

Either way, time to hodl

Yes, it would be a big disappoint for all in the crypto industry if in case the Blackrock ETF application would still be rejected by SEC with Gary Gensler on board. Though honesty am not a big fan of ETF but it is estimated that this can push the price of Bitcoin to heavens...and can possibly make Bitcoin be an everyday household name. Let's hope that eventually SEC will do its part and make it a big reality so we can finally see how it would affect BTC price. The market is excited for this which put BTC on a bullish mode.

[bbc.reporter]

What is Blackrock trying to imply or what might they have on their bitcoin investment roadmap? The skeptical me thinks that they want more control over the cryptospace if they are to invest billions of dollars on this.

It also appears that this article is mistaken. Blackrock has an investment on USDC through being an investor on USDC's issuer Circle. To control the stablecoin market is to control much the inflows and outflows of the cryptospace.



In a recent move by BlackRock Inc., a leading asset manager, the firm has highlighted the potential risks stablecoins pose to the Bitcoin market in its filing for a US spot Bitcoin ETF. This disclosure, part of a public document submitted to regulators, brings forth the complexities and challenges in the evolving cryptocurrency landscape.

BlackRock’s document underscores the indirect exposure to stablecoins, specifically mentioning Tether USD (USDT) and Circle USD (USDC). Despite not investing in these digital assets, the firm acknowledges their significant impact on Bitcoin and other digital asset markets. Interestingly, the document details the nature of stablecoins, emphasizing their intention to maintain a stable market value, a goal that has recently seen challenges.

Source https://coingape.com/blackrock-inc-spotlights-stablecoin-risks-in-us-bitcoin-etf-filing/

[BALIK]

What is Blackrock trying to imply or what might they have on their bitcoin investment roadmap? The skeptical me thinks that they want more control over the cryptospace if they are to invest billions of dollars on this.

For a potential market like cryptocurrency and scarce assets like bitcoin, there is no one who would not want more control. Even legislative agencies such as the SEC or CFTC are competing for the right to manage and control this potential industry. Therefore, you do not need to doubt or be too surprised when large investment funds are ambitious to gain more control of this market. Therefore, while ETFs are welcomed by many people, there are also many people who are not satisfied. Because once ETFs are approved and large investment funds enter the market, we will gradually lose our freedom and be more controlled.

[wxa7115]

For a potential market like cryptocurrency and scarce assets like bitcoin, there is no one who would not want more control. Even legislative agencies such as the SEC or CFTC are competing for the right to manage and control this potential industry. Therefore, you do not need to doubt or be too surprised when large investment funds are ambitious to gain more control of this market. Therefore, while ETFs are welcomed by many people, there are also many people who are not satisfied. Because once ETFs are approved and large investment funds enter the market, we will gradually lose our freedom and be more controlled.

Without a doubt the market is changing and we no longer have the same privacy we had a few years ago, however this is only a point of contention for those that consider bitcoin to be more than just another way to make some money and think of it as a tool to regain their freedoms back.

So for the majority of the traders losing their privacy is not real a motive of concern, and they are willing to give it away as long as they can get the profits they are looking for.

[kingvirtus09]

The step made by Blackrock in the Bitcoin ETF application in DTCCC is undeniable; it really had an impact on the rise of the price value of Bitcoin. And because of this, many investors really hope that this Blackrock ETF will be approved in Sec.

But, even so, there is still no guarantee that it will be approved because, based on the history that we know, most or all applications are rejected. And this time in Blackrock, they will probably do delaying tactics here, for sure, as they are doing here currently.

[Zlantann]

Without a doubt the market is changing and we no longer have the same privacy we had a few years ago, however this is only a point of contention for those that consider bitcoin to be more than just another way to make some money and think of it as a tool to regain their freedoms back.

So for the majority of the traders losing their privacy is not real a motive of concern, and they are willing to give it away as long as they can get the profits they are looking for.

The crypto space is becoming more dynamic and complex. A few years ago nobody thought that multibillion-dollar institutions would be scrambling to have a share in the Bitcoin space. Now many powerful players are seeking to control some segments of the market. The market is a free one so anyone has the right to take advantage of the opportunities that Bitcoin offers. From all indications, the market will get more centralized because these agencies and investors will have the power to control the market especially if the spot Bitcoin ETF is approved.

For now, nobody can stop the approval of these ETF applications except the SEC, which means there is nothing you or I can do to stop this centralization. But we can always protect our freedom and privacy through available means. These investors are putting in more money in the sector which has affected the price of Bitcoin positively, we will take advantage of it to make some profit but I will never hand over my keys to these institutional middlemen.

[bbc.reporter]

What is Blackrock trying to imply or what might they have on their bitcoin investment roadmap? The skeptical me thinks that they want more control over the cryptospace if they are to invest billions of dollars on this.

For a potential market like cryptocurrency and scarce assets like bitcoin, there is no one who would not want more control. Even legislative agencies such as the SEC or CFTC are competing for the right to manage and control this potential industry. Therefore, you do not need to doubt or be too surprised when large investment funds are ambitious to gain more control of this market. Therefore, while ETFs are welcomed by many people, there are also many people who are not satisfied. Because once ETFs are approved and large investment funds enter the market, we will gradually lose our freedom and be more controlled.

I very much disagree and it appears that you are not trying to think more deeply into what type of a company this Blackrock is. This is not only about the ETF, it is also about the control stablecoin inflows and outflows. If only one firm controls much of these inflows and outflows, this firm will be something similar to Immortan Joe of the movie Mad Max: Fury Road, where he controls the water supply hehehehehee.

[GreatArkansas]

(....)
But, even so, there is still no guarantee that it will be approved because, based on the history that we know, most or all applications are rejected. And this time in Blackrock, they will probably do delaying tactics here, for sure, as they are doing here currently.

Yep, I agree, with or without ETF, we must continue. I believe that Bitcoin seems to have become used to ETF rejections in the U.S. Over time it has become normal.
So for me, it's fine. But if it is approved, much better because ETF will make Bitcoin more popular and possibly gain more volume.

[bbc.reporter]

Does everyone remember the intern who mistakenly posted that Blackrock's ETF was already approved by the SEC and caused a pump? Heheheh I just remembered after witnessing bitcoin on $40k.

In any case, the odds for Blackrock's approval might go higher after the news that it has met with the SEC. And it appears that they have also made some changes in some of the iterations in their application to please uncle Gary.



BlackRock has submitted revisions to its spot Bitcoin ETF application to the SEC in an attempt to allay the regulator’s concerns over market manipulation and broker-dealer registrations, according to meeting minutes between the asset manager and the SEC’s Division of Trading and Markets dated Nov. 28, 2023.

BlackRock’s proposed solution modifies the current in-kind redemption model that would have the offshore market maker entity prepay cash to the registered broker-dealer entity prior to the delivery of ETF shares during the redemption process. This “prepaid model” aims to isolate the broker-dealer on its balance sheet from risks associated with transferring Bitcoin to the market maker.

Additionally, BlackRock argues that retaining an in-kind structure, even with alterations, provides benefits over shifting to a cash redemption method, including lower transaction costs, simpler operations, and resistance against manipulation schemes. The asset manager believes addressing the balance sheet and broker-dealer registration dependencies directly through adjusted timing and custody transfers allows the Bitcoin ETF application to clear regulatory procedures while optimizing shareholder incentives.

Source https://cryptoslate.com/blackrock-adjusts-proposed-spot-bitcoin-etf-structure-to-allay-sec-concerns/


The market certainly is showing that the approval for the ETF is almost a certainty. However, if approved, will the market continue to pump higher or will it react similar to sell the news and dump?

[thecodebear]

The market certainly is showing that the approval for the ETF is almost a certainty. However, if approved, will the market continue to pump higher or will it react similar to sell the news and dump?

Just want to point out the obvious: the market has no say in an ETF getting approved. That is up to the SEC. The market is HOPING for an approval, not showing anything about the likelihood of approval. Nothing about what the market is doing makes an ETF approval an almost certainty, or anything else. The market reacts, it does not make the rules. It is certainly very possible the SEC continues to reject everything and everyone just hoping and assuming an ETF would get approved soon would be wrong.

It terms of the market reaction is an ETF does indeed get approval at some point next year...I expect the immediate reaction would be a large spike upwards, perhaps multiple thousands of dollars, followed by the inrush of people trying to crash the price or simply just taking profit on the spike. So I think it'd go up a bunch and then go down a bunch, but ultimately when the dust cleared over a few days the price would settle a good amount higher than where it started. Then of course when an ETF actually starts operating the ETF will likely be buying up several billion dollars of Bitcoin in a matter of weeks so that will cause another strong surge.

[TheUltraElite]

It terms of the market reaction is an ETF does indeed get approval at some point next year...I expect the immediate reaction would be a large spike upwards, perhaps multiple thousands of dollars, followed by the inrush of people trying to crash the price or simply just taking profit on the spike.

The market is hoping for good news and that is the reason of the sudden spikes in price.

It is currently the traders wet dream to see ETF approval because then only the next all time high will be reached. I say, keep the sell orders ready for the same - it might be possible by the next year. The market would assume new support levels if it does go through though and it will be higher than 35k USD for sure.

So in the best interest, wait it out and keep both buy and sell orders placed. Who knows suddenly one night it might get approved.

[Z-tight]

The market certainly is showing that the approval for the ETF is almost a certainty. However, if approved, will the market continue to pump higher or will it react similar to sell the news and dump?

How is the market showing that, maybe you mean that so many people think an approval is on its way, because from what i have been reading lately, so many bitcoiners think that an approval is a matter of when and not if. If a spot etf is approved in the U.S., it would be the first ever to be approved in the U.S. market, so we cannot predict how the market will react based on past events, because there is none, but people can't help but believe that there will be a pump in the price of BTC.

When we talk about centralized exchanges, so many of us talk about not your keys, not your keys, but why is the case with etf's different? I don't see too many people bringing up that phrase when we mention spot etf's.

[bbc.reporter]

@thecodebear, @Z-tight. You are correct! It is not the market that decides if the ETF gets approved or not, it is the SEC. I only said that the market speculation is showing that there are more people who are optimistic on the approval. Also, the question I was asking is if the speculators are correct and the ETF is approved, will this be a sell the news type of occurence or will bitcoin continue to pump?

[adaseb]

I don’t think it’s the retail traders that are causing all this bull moves. Look at coinbase today, someone market bought like 500 BTC and it touched $45000 only on that exchange. It seems there is a huge demand in short time and almost no supply, at least right now.

Look at Bitmex open interest, last week at $38K someone opened a $200M long. This is obviously some fund and not a retail trader. We also had that weekend pump last time. I assumed it would fade but it was a real move. There is also Tether and every week about $1B is added to the crypto markets.

[franky1]

I don’t think it’s the retail traders that are causing all this bull moves. Look at coinbase today, someone market bought like 500 BTC and it touched $45000 only on that exchange. It seems there is a huge demand in short time and almost no supply, at least right now.

Look at Bitmex open interest, last week at $38K someone opened a $200M long. This is obviously some fund and not a retail trader. We also had that weekend pump last time. I assumed it would fade but it was a real move. There is also Tether and every week about $1B is added to the crypto markets.

over the last week. many futures whale were shorting to try to keep the price under $39k.. their contracts completed and won. so they didnt need to play with an extra bundle of coin on spot market to keep it down. so the natural market then bought.. now there are some selling at $45k and wanting to buy in cheaper.

one thing i did notice was last years december had many futures contracts for 1 month, 14 day, 7day lengths. where as this year there are many that are just 7day, 2day, 1 day lengths

[bbc.reporter]

I don’t think it’s the retail traders that are causing all this bull moves. Look at coinbase today, someone market bought like 500 BTC and it touched $45000 only on that exchange. It seems there is a huge demand in short time and almost no supply, at least right now.

Look at Bitmex open interest, last week at $38K someone opened a $200M long. This is obviously some fund and not a retail trader. We also had that weekend pump last time. I assumed it would fade but it was a real move. There is also Tether and every week about $1B is added to the crypto markets.

Is that spot buying or futures buying? If it is futures buying then we might be in this time of the pump where the market might have become overleveraged. These traders might need to close their trades if the pump does not continue or they might get liquidated if the market dumps and causes a cascade of liquidations.

[barto123]

It is very interesting that Blackrock ETF, which was on DTCC's site since August, suddenly caused so much speculation yesterday and then was taken off the site. What do you guys think? Is an ETF coming soon? How come no one took notice of DTCC's site until yesterday?

https://www.coinfeeds.io/daily-trending-news/clarifying-blackrock-bitcoin-etf-speculation

I think people should stop focusing on ETF's - The main problem here: the money is being used as a tool of enslavement. The money is broken by design.

Do you really want to give more legitimacy to these massive corporations who pull the strings of government worldwide? it's clearly one big club. There's a global war on cash leading to CBDC's. Clearly an agenda to move world into a digital prison.

Bitcoin was born with anarchists, libertarians, cyberpunks, people who want freedom. These days it's associated with number go up, hodl - making money.  It's great that it's grown to the size it has, but it's become too mainstream and focused on getting rich instead of freedom, which was satoshi's initial intent.

It's still a great tool for store of value, however it's lost it's freedom aspect. All this talk of ETF's, regulations etc makes me cringe. Hence why I'm on board with Monero community, because they don't care what exchange gets delisted. They don't care about institutional money. The whole point is to avoid it. The real value IMO is remaining out of the mainstream criminal organizations.

[DeathAngel]

BlackRock, Bitwise File Updated Applications for Spot Bitcoin ETF

BlackRock’s amended filing included clarifications on topics such as the Trust’s structure and potential regulatory impacts on it.

https://www.coindesk.com/business/2023/12/05/blackrock-bitwise-file-updated-application-for-spot-bitcoin-etf/amp/