Topic: [2018-08-24]CNBC's Analyst Brian Kelly Says Bitcoin ETF Approval Likely by Feb. (Read 178 times)

Only an idiot wouldn't sell last year's top with the intention of buying more coins back at lower levels, and considering that the Winklevoss twins are no idiots, they definitely have sold some of their coins. They have been here long enough to know how this market works. I don't blame them for trying to make it look like they never sell their coins. They have to sell you a perfect image of unconditional confidence in Bitcoin regardless of its price.

Major advantage for these twins is that they can use Gemini to front run orders just to benefit themselves. Fantastic position they are in with their own exchange to exploit peaks and bottoms.

I don´t think that get rich quick noobs are the main demographic that is
rooting for an ETF approval. An ETF approval would also be a great chance
for some of the early adopters, who are sitting on a ton of coins to get rid of
big parts of their holdings.

I´m thinking about people like the Winklevoss twins, who have allegedly
never sold a single one of their Bitcoins (they have bought a space flight with
BTC, but this isn´t directly selling).

If it happens the market wills surge and all the holders will rejoice as their investment which has fallen a lot by more than 50% will start to rise and will have a sound sleep after Dec last year where the market had touched 18k+ and in anticipation still we are falling short of that level by 1/3rd.

Hope this is true, I am waiting for it to put my 401k into it, I will hold bitcoin for long term.

I tend to agree. If anything, Brian Kelly and company are what traders refer to as a "contra-indicator." IIRC, with several altcoins last year, he ran segments hyping them up right near the top.


I think he's right that it'll be delayed past September, and possibly until February. But I think he's wrong that it'll likely be approved at that time. Something tells me that's a long shot.

You mean that it still would be rejected, right? In that case I do agree. I think that it's very likely that they want to see the legacy key players have a strong position in this industry before even considering an approval.

It's all about the monopoly of the main institutions they care about, and they have all the incentive to protect them where needed. It doesn't really come as a surprise though, because that's how this system is supposed to work.

I'm glad that Bitcoin's price will be allowed to grow 'naturally' instead of artificially because of an ETF. Bitcoin itself isn't even ready for another bull run because we all know how bad the situation was last year.

You guys should really start to ignore CNBC or do the opposite of what they're telling you to do. This year their ""experts" were wrong almost every time. There's even a chart depicting it on tradingview and it's on top of the most viewed charts in BTC/USD section. Go check it out!
One of the funniest moments was CNBC saying to buy the dip and that BTC is going to the moon right when we dropped from 20k and then again at 10k. I also believed that we were going to bounce back from 10k, (and it would if some Korean exchanges didn't get hacked at that time)) but I'm not an expert trader.

It's a little bit of both. I don't necessarily blame the SEC for rejecting the ETF's they've done so far, but at the same time the SEC seems to have made it clear that politically they are not for crypto. I have my doubts that even if the perfect ETF was presented to them that it would be approved.

A lot later than what people, especially on this board, would prefer to see. You aren't wrong in your assessment of the situation but many on this board and in the crypto community wanted an approval this month or next month at the latest.

2019 a lot later you say? It might take like 10 years before we even see an ETF pop up with how the SEC just doesn't want to cooperate with get rich quick noobs only rooting for an approval to sell the top.

People really need to get their motives for being here sorted out, because this just isn't healthy. I don't think we can blame the SEC for anything they reject because I would do the same thing in current circumstances.

Brian Kelly has always been an overly optimistic person with everything the CNBC comes up with, so I would take anything he states with a grain of salt. The only positive thing about him is that he's not anti crypto.

It's a lot later than a lot of people would like but if it gets done it will be great news for everyone who holds any cryptocurrency.

CNBC's Analyst Brian Kelly Says Bitcoin ETF Approval Likely by February 2019

Crypto analyst Brian Kelly has predicted that approval of a Bitcoin (BTC) exchange-traded fund (ETF) will “likeliest” and “earliest” come in February 2019, in an interview on CNBC’s Fast Money August 23.

Kelly’s forecast comes hot upon the heels of the U.S. Securities and Exchange Commission’s (SEC) rejection of nine BTC derivatives-based ETF proposals from three applicants August 22.

An ETF is a type of mutual investment fund that divides ownership of a commodity, derivative,  index, or basket of assets, into shares. The fund tracks the value of the underlying asset(s) and is traded on exchanges, with shareholders entitled to any positive returns.

ETFs are marketable securities that require oversight by government authorities, and the current and prospective regulatory status of crypto-related ETFs remains unresolved and avidly discussed.

Kelly pointed out that while the SEC has recently chosen to delay its decision on a separate and high-profile BTC ETF application from investment firm VanEck and financial services co. SolidX until this September, the regulator in fact has the option to again defer its final decision on the proposal until February at the latest. Kelly suggested the agency would be likely to choose to do so, citing four further grounds.

First, Kelly responded to the concerns voiced by the SEC in all of its BTC-related ETF rejections to date, these being the agency’s qualms over inadequate resistance to “fraudulent and manipulative acts and practices” in an insufficiently sized BTC derivatives market and the largely unregulated underlying spot market. Kelly argued that:

Source: https://cointelegraph.com/news/cnbcs-analyst-brian-kelly-says-bitcoin-etf-approval-likely-by-february-2019