When do you think Bitcoin ETF will be approved?

[mich]

Well I did at first think it was going to happen before the end of this year. Grayscale is first with the final deadline of January 1. But CEO Michael Sonnenshein is asking the sec to approve all the Bitcoin ETFs at the same time.

He does think we will see $30 Trillion come into the Bitcoin marketcap once this does happen. https://beincrypto.com/grayscale-sec-ceo-approve-all-once/

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[Majestic-milf]

Do you think many big whales will start accumulating before ETF approval or after approval ?

I can't say categorically if the big whales will take advantage of this news and start buying but who knows? We all know the price went up upon news of an ETF approval and since the aim of every Bitcoin investor is to make profit, maybe they will use every window available to do so.

[Dump3er]

Well I did at first think it was going to happen before the end of this year. Grayscale is first with the final deadline of January 1. But CEO Michael Sonnenshein is asking the sec to approve all the Bitcoin ETFs at the same time.

He does think we will see $30 Trillion come into the Bitcoin marketcap once this does happen. https://beincrypto.com/grayscale-sec-ceo-approve-all-once/

$30 trillion being shifted towards BTC? Did he mention a time frame for that? This could mean anything if someone throws out a number without saying what time frame they are talking about. Long term I think it will be a lot, but I realize when I say long term that even this time frame is hard to estimate. I guess so far I have been wrong more often than not, but $30 is rather 10 years away than 3 years away would be my guess. $30 trillion is more than double the market cap of gold and while I believe that a lot of institutional investors understand that BTC should be part of their portfolio, we are still talking about a portfolio. It is not like everyone will sell their gold and switch to BTC.

To come up with some numbers here, the global wealth was around $454 trillion in 2022. I don't know what the breakdown is in terms of real estate, cash and cash equivalents, etc. I found some info that real estate is about half of global wealth.

But in order for $30 trillion to go into BTC, that means over 6.5% of global wealth would be put into BTC. I doubt that this is going to happen overnight I believe that BTC will become a very powerful asset class, but it still means that people have to give up on one class in order to shift their wealth into BTC (they can of course produce more wealth overall and use that). For the sake of diversification, most actors will try to strike a balance they deem reasonable.

[Altryist]

 I can't say categorically if the big whales will take advantage of this news and start buying but who knows? We all know the price went up upon news of an ETF approval and since the aim of every Bitcoin investor is to make profit, maybe they will use every window available to do so.

I think those who are waiting for ETF approval have already bought Bitcoin and are simply waiting for the moment when after the announcement there will be a pump, perhaps to sell.

In fact, it is very difficult to predict how everything will be, there are many options for the development of events, and I think that it would be stupid to wait for the approval of the ETF and only then buy, I am sure that the whales understand this very well. All you need to know is that they will once again try to trick you, so be careful.

[sokani]

I think it will be approved within Dec last.
What you guys think?

Reports from multiple sources have it that it's going to be between 8th - 15th January 2024, which is just few weeks from now. However, If I should speculate, I'd say first quarter of next year because the hype is way too much. Just yesterday, SEC entered a meeting with BlackRock and Nasdaq to discuss spot Bitcoin ETF.  Same yesterday, Bitwise and Hashdex released their spot Bitcoin ETF marketing ads, so I think it's happening very soon.

[fillippone]

I am being late on this discussion, but as far as I understand the windows for the SEC to approve is technically open from 5th of January until 10th of January. So, given the calendar I would say it can happen between the 8th and the 10th of January.

[Majestic-milf]

I think those who are waiting for ETF approval have already bought Bitcoin and are simply waiting for the moment when after the announcement there will be a pump, perhaps to sell.

You have a point on this. It will be absurd to wait for an approval before purchasing your Bitcoin, because then you won't be able to maximize enough profits, what with you buying when price was high and all that. For me, Bitcoin is a volatile coin, and although there are factors that can cause it's price to shoot up, it's not really safe to depend on ETF approval alone because that way it would seem as if without an approval, we won't see an upward surge.

[darkangel11]

I am being late on this discussion, but as far as I understand the windows for the SEC to approve is technically open from 5th of January until 10th of January. So, given the calendar I would say it can happen between the 8th and the 10th of January.

You're not. The topic was created a day ago, so it's still fresh
Wasn't Grayscale's deadline on the 1st of January?
I really don't care when they'll agree to it because the trust is not going to open on that day, so whether we get to see it run in February, March or April, it's all fine as long as it gets approved. I'm not even going to use the ETF, but I'd like it to get approved so all the naysayers and critics get a slap on the cheek. I hope you guys aren't too excited thinking when the SEC approves it bitcoin goes up +50% in an instant and you'll make a trade of your life. Buying bitcoin was the trade of your life!

[bhadz]

Let this month pass and move on to January 2024. It seems that there will be approvals that might happen by that month prior to halving. But that's just a guess and it's still SEC that's going to decide whether to approve any of them or none. But with news like this[1], we've got some positive movement there.
[1] SEC takes new meetings with BlackRock, Grayscale as high-level Bitcoin ETF talks continue

It seems that in times like this, those of us who are waiting and expecting the approval they will get in Blackrock and Grayscale should hold our breath. When this happens, most of the community holders will see who will have the light for their crypto holdings, be it bitcoin or cryptocurrency.

So for sure, this main event of January 10 is just coming next year. There will be a massive spike in the price value of Bitcoin and other cryptocurrency assets in the market as well.

It's gonna blow and explode on January. Let's all wait for the next month because it seems that we're having some positive movement by this time. There is no doubt why everyone is just waiting for it. We're getting some good news right now with these and giving us the idea on what shall happen. But even with that, I don't want to buy with this emotion that I am feeling because it's still possible that a surprising no and rejection might come. Just weigh things. 

[Altryist]

You have a point on this. It will be absurd to wait for an approval before purchasing your Bitcoin, because then you won't be able to maximize enough profits, what with you buying when price was high and all that. For me, Bitcoin is a volatile coin, and although there are factors that can cause it's price to shoot up, it's not really safe to depend on ETF approval alone because that way it would seem as if without an approval, we won't see an upward surge.

Over this year, Bitcoin has shown excellent growth, largely due to the news about the approval of the ETF, everything happened only on expectations, I did not see any positive things other than that. Therefore, it is logical for me that such a mood in the market will be supported only by those who already own Bitcoin, those who will benefit from this growth. Do not believe that Back Rock and other players will buy Bitcoin only after the spot ETF is approved.

[virasog]

Do you think many big whales will start accumulating before ETF approval or after approval ?

I can't say categorically if the big whales will take advantage of this news and start buying but who knows? We all know the price went up upon news of an ETF approval and since the aim of every Bitcoin investor is to make profit, maybe they will use every window available to do so.

There is not much time left in the ETF approval and it may happen within a week or two, as the deadline for a decision of the approval or disapproval is in January of 2024.

This will be a big event for Bitcoin and the price will soar high but I do not know how long it will sustain because usually, these crypto events are like "Buy the News and Sell the Events". Let's hope Bitcoin ETF is not such type of event but still I think there will be a lot of volatility both on the buy and sell side, once the ETF is approved.

[wallet4bitcoin]

I think the Feds are enjoying their time leaving the whole crypto space in suspense. Frankly, it is percieved that the crypto space has not gone totally bullish because of the unapproved Bitcoin ETF applications and loads of financial institutions are currently waiting for the judgement before they consolidate on their final decisions on investments.

The Bitcoin ETF is going to possibly be postponed to further keep the space grinded and stop investors from pulling out their resources and putting them into the decentralised space.

[electronicash]

I think the Feds are enjoying their time leaving the whole crypto space in suspense. Frankly, it is percieved that the crypto space has not gone totally bullish because of the unapproved Bitcoin ETF applications and loads of financial institutions are currently waiting for the judgement before they consolidate on their final decisions on investments.

The Bitcoin ETF is going to possibly be postponed to further keep the space grinded and stop investors from pulling out their resources and putting them into the decentralised space.

the institutions are already buying up BTC without having the ETF approval yet. they know BTC doesn't need ETF approval to make its ATH again.

but based on what we have seen this year, i think SEC will not approve ETF yet even on jan 10 because we all are expecting it. they are teasing the investors. they may only approve it when we least expect it. i suspect they will wait til the halving effect is over and may of us haave sold already thinking the bull run is over before they will approve it. must be a bummer when this happens.

[BitcoinsGreat]

Well I did at first think it was going to happen before the end of this year. Grayscale is first with the final deadline of January 1. But CEO Michael Sonnenshein is asking the sec to approve all the Bitcoin ETFs at the same time.

He does think we will see $30 Trillion come into the Bitcoin marketcap once this does happen. https://beincrypto.com/grayscale-sec-ceo-approve-all-once/

Well if all of the Bitcoin ETF are approved at the same time then it will be a massive event for the Bitcoin and cryptocurrencies. However does it mean that the 30 trillion dollar will come into the Bitcoin at instantly ?
I think even if all the ETFs are approved at the same time still the money will flow constantly and not all it once into bitcoin.

[franky1]

Well I did at first think it was going to happen before the end of this year. Grayscale is first with the final deadline of January 1. But CEO Michael Sonnenshein is asking the sec to approve all the Bitcoin ETFs at the same time.

He does think we will see $30 Trillion come into the Bitcoin marketcap once this does happen. https://beincrypto.com/grayscale-sec-ceo-approve-all-once/

Well if all of the Bitcoin ETF are approved at the same time then it will be a massive event for the Bitcoin and cryptocurrencies. However does it mean that the 30 trillion dollar will come into the Bitcoin at instantly ?
I think even if all the ETFs are approved at the same time still the money will flow constantly and not all it once into bitcoin.

what happens is this
when a ETF is active. ETF sponsor with ALOT of coin already locked, will want to sell off their shares to customers so wont want to have agents applying with new baskets of coin. not until the ETF sponsor has sold majority of their shares

ETF sponsors with low custody will allow agents to buy btc and hand in a basket of btc to the custodian and have the share allocations created to then sell shares..

GBTC(grayscale) has over 600,000btc of locked coins meaning they are not in a rush to add more baskets

grayscales CEO ommited that the SEC is probably not going to do a "all approved" announcement
the ommission is clear.. because if the SEC was going to approve grayscale at same time as say blackrock.. then why is grayscale ceo saying it would be a mistake in doing so..

if the talks were about mutual approval of many, the CEO would not even be arguing a case of why first mover advantage would be bad

Grayscale CEO, Michael Sonnenshein, urges SEC to approve all Bitcoin ETFs simultaneously to avoid any first-mover advantage.
Sonnenshein warns that GBTC investors could be disadvantaged if the SEC doesn't allow GBTC to convert to a spot ETF simultaneously with others.

if the signs of "all approval" were told to CEO. he would not need to urge or warn
when he then says "SEC should" by saying "should" soo many times he is revealing the sec is implying approving different ETF at different times
its the age old question.. how many 'shoulds' should be said until it imply's they wont

if customers of a business are shouting the business should do something. it implys the business currently has no plans on doing that thing

[Silver005]

That's a tough question to answer. The Securities and Exchange Commission (SEC) has been deliberating on the issue of a Bitcoin ETF for some time now, and there is no clear timeline for when a decision will be made. Some experts predict that a Bitcoin ETF could be approved within the next year or two, while others believe that it could take much longer. It's also possible that the SEC could decide not to approve a Bitcoin ETF at all. Ultimately, the decision will come down to a number of factors, including the current state of the cryptocurrency market, the overall regulatory environment, and the specific proposals that are put forth by ETF....

 The main argument for approving a Bitcoin ETF is that it would provide investors with a regulated, accessible way to invest in Bitcoin. This could lead to increased adoption and demand for Bitcoin, which could lead to higher prices. Additionally, a Bitcoin ETF could bring increased transparency and liquidity to the market, which could benefit all participants. On the other hand, the SEC has expressed concerns about the potential for market manipulation and fraud in the Bitcoin market. They are also concerned about the lack of regulatory oversight and the potential for volatility in the price of Bitcoin. So, while a Bitcoin ETF could have many benefits, it's

[mirakal]

I think it will be approved within Dec last.
What you guys think?

I don't see any chance for this year's ETF approval most especially that probably SEC officials are into holidays and are busy with their own family's festive activities. But after this year, hopefully by January we will hear from them positive feedbacks about bitcoin ETF, in which I think has higher probability to happen.

Now, if by chance bitcoin ETF will be disapproved, no worries as there will be another ETF that will surely come out soon for approval. Just as easy as that. But I just hope that it will eventually happen next month as it could also help to boost the price of bitcoin if ever.

[eightdots]

I think it will be approved within Dec last.
What you guys think?

I think they will approve it next year, but no one can be sure about the exact date. No matter how long it is kept waiting, it will be approved one day. Bitcoin's rise does not depend on the ETF, but I still think it will have an impact.

As the halving approaches, expectations increase. The ETF may also be approved closer to the Halving. This is just a guess, but something needs to happen for the Bitcoin price to rise.

[EluguHcman]

In the remaining ten days? I don't think so. Besides, I don't give a damn. It is clear to me that they will start to be approved sometime next year, which coupled with halving will push the price up but neither changes my plan, which is slow and gradual accumulation until the price breaks highs.

The key point is >>> keep accumulating and expect the ETF would be approved if not in a closed time but sometimes. The fact is that we are going to be taking unaware because this await approval is no even what the bitcoins experts practitioners could rightfully predict about.
Even without a probability considerations, the ETH approval delays would enhance the accumulators more of interests but specifically on those investors whom hodles til the ETF was approved.
Infact, hodl your Bitcoins like your are securing your assets while the ETF strikes at its time.

[tread93]

Hopefully it'll get approved before this next halving, once that happens then so much money will be flooded into the market. I wonder when it will get approved too, it seems like they just keep kicking the can down the road as long as they can on these things. crypto related financial / gov policy is often reluctant to change because of FUD and association w/ criminal activity / money laundering.