[2019-03-31] Bitcoin [BTC] ETF: SEC stalls proposal yet again; decision pushed..

Lucius

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Quote from: LeGaulois on April 01, 2019, 12:36:51 PM

Because it costs nothing to try, at worst a rejection but as you can renew it...it also shows their determination to see it accepted.
Anyway, if the market becomes too large, the SEC will have no choice but to approve it, because, in the end, it is better to have some control over this market than none.
" ...they believe a bull-run is imminent..." We knew it before they did.

I can not say with certainty whether the application is complete free of charge, but it is quite apparent that there is a great deal of determination of certain subjects to succeed in their plan. SEC will delay until assessment that the time has come, and as 1Referee say it will take probably years that this happens. What's important in this whole story is that the majority finally realized that bitcoin ETF currently is hardly have any chance, and it no longer plays a major role for the price of bitcoin.

We know that price will go up at one point, this is true - but when it comes as a formal stand of SEC officials then it does have some significance. People still believe in institutions, no matter what they say, good or bad.

Kakmakr

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They are stalling because they do not know how to handle this. They know that Bitcoin markets are being manipulated and they cannot control the global Bitcoin price. The only solution for this, might be to create a secondary market that are 100% regulated by them and to use that Bitcoin price as a benchmark to determine the price. Roll Eyes

They will not give control to global markets where there are no control over the manipulation of the Bitcoin price. Tongue

Kemarit

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As expected, SEC cannot make up their mind. LOL. Why don't they just say we don't like it and it will be denied period. No need for them to just push the date again and then eventually they will rejected it. That's why I urge people not to really take this as a catalyst for a eventual bull-run. They've been playing with us for years and I'm sure everyone really knows that we won't see any approval, whoever is the entity behind the filing of any future Bitcoin ETF proposals.

1BTC EQUALS 1CAR

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Extended? Delayed? hahahaa Cheesy

Give me some other words that perfectly describes ETF proposals than those that I have mentioned. I don't know if the SEC is doing an unlimited April Fool's joke on those who proposes the ETF and especially us that supports the cryptocurrency technology.

joniboini

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I believe the ETF narrative will be one of the major story in 2019, but there's a high probability majority of stakeholders in this crypto world would expect it to be denied. The hype for ETF will die, and then if it ever comes, price will skyrocket rapidly because nobody expects it to happens.

SEC has been bombarded here and there by lots of parties, I pity them somehow.

stomachgrowls

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Quote from: 1Referee on April 01, 2019, 05:14:45 PM

Bitcoin's market has to go through years of maturation in every field to make the SEC seriously consider an ETF approval, and I can't blame them. The very fact that exchanges are massively inflating their volumes doesn't help at all. It just fuels the SEC's 'Bitcoin is being manipulated' narrative.

These are the things inside of their minds thats why we have seen on how they do play out these ETF approval according to their likings and we cant do anything about it but to wait up for their decision.

I do already expect on this kind of behavior where they do always delay or extend out dates which already indicates that considering Bitcoin for approval is just that hard and would still need some time.

1Referee

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Quote from: LeGaulois on April 01, 2019, 12:36:51 PM

Anyway, if the market becomes too large, the SEC will have no choice but to approve it, because, in the end, it is better to have some control over this market than none.

The SEC always has a choice, where ultimately, they can continue to say no to Bitcoin.

People here don't seem to understand that they have a ~$4 trillion ETF market to protect. The SEC doesn't lose one single second of sleep over Bitcoin not being granted an ETF, and why would they? It definitely seems that people in the crypto space badly want this ETF, while the SEC rather not wastes its time looking at Bitcoin at all.

Bitcoin's market has to go through years of maturation in every field to make the SEC seriously consider an ETF approval, and I can't blame them. The very fact that exchanges are massively inflating their volumes doesn't help at all. It just fuels the SEC's 'Bitcoin is being manipulated' narrative.

LeGaulois

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Quote from: Lucius on April 01, 2019, 04:54:50 AM

No matter how hard they tried (VanEck/CBOE ETF), or any other company, they are very well aware of the SEC attitude toward bitcoin. Some then wonder why they try, when they know that they will eventually be denied? Because they (SEC) do not approve SUCH things overnight, and all applicants will simply try it, until they finally achieve success.

Prediction of various experts say that the first bitcoin ETF will have to wait for several years which is not bad, whether we admit it or not, it's too early for such ETH. Regardless of the new expected delay, it's interesting to read what SEC think about some future events :

Quote

On one hand, SEC officials do not place trust in the cryptocurrency markets, on the other, they believe a bull-run is imminent. Valarie Szczepanik, the SEC’s digital asset advisor stated that the “crypto-spring” was imminent, but maintained the need for regulatory oversight.

Because it costs nothing to try, at worst a rejection but as you can renew it...it also shows their determination to see it accepted.
Anyway, if the market becomes too large, the SEC will have no choice but to approve it, because, in the end, it is better to have some control over this market than none.
" ...they believe a bull-run is imminent..." We knew it before they did.

Lucius

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No matter how hard they tried (VanEck/CBOE ETF), or any other company, they are very well aware of the SEC attitude toward bitcoin. Some then wonder why they try, when they know that they will eventually be denied? Because they (SEC) do not approve SUCH things overnight, and all applicants will simply try it, until they finally achieve success.

Prediction of various experts say that the first bitcoin ETF will have to wait for several years which is not bad, whether we admit it or not, it's too early for such ETH. Regardless of the new expected delay, it's interesting to read what SEC think about some future events :

Quote

On one hand, SEC officials do not place trust in the cryptocurrency markets, on the other, they believe a bull-run is imminent. Valarie Szczepanik, the SEC’s digital asset advisor stated that the “crypto-spring” was imminent, but maintained the need for regulatory oversight.

figmentofmyass

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Quote from: BitHodler on March 31, 2019, 03:52:33 PM

It's time for the SEC to cut through this dog shit. It's already known to them that the ETF proposals in their current form don't stand a chance to be approved, especially not while the proposals are also coin backed.

you think a futures-backed fund is more likely to be approved? they rejected several of those last year too.

Quote from: BitHodler on March 31, 2019, 03:52:33 PM

I think the only reason they keep delaying their decisions instead of rejecting them directly, is to avoid making themselves look anti Bitcoin in the public with how easily triggered people in the crypto world are.

why would they care about triggering bitcoiners? Cheesy

Quote from: elda34b on April 01, 2019, 03:37:09 AM

Meanwhile, exchanges tokens price are skyrocketing because people speculate that somehow it will increase 100x like Binance did. Hype is too great to deny.

in the right environment (a bull market) they just might. it's too early for that though. the hype won't sustain and these rallies will get sold into. 100x and better opportunities are few and far between right now.

elda34b

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Quote from: buwaytress on April 01, 2019, 01:50:06 AM

Investment's too good a word for that. I think they're treating it as a quick money flip. And damn these IEOs. Couldn't escape not knowing them from the emails that managed to get past my spam. And of course Bittrex shilling theirs. People will fall for that, sadly.

Bittrex suck. Their first IEO failed miserably, and now they're trying to do the next one, and it is not that great either. Meanwhile, exchanges tokens price are skyrocketing because people speculate that somehow it will increase 100x like Binance did. Hype is too great to deny.

buwaytress

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Anyone surprised by this news has to be naive. Government itself's been down for a while and needs to catch up with other more important things. A BTC ETF's surely got to be far down their agenda. If they had time for it, they'd just shoot it down permanently and nail a few justifications to that coffin.

Quote from: BitHodler on March 31, 2019, 03:52:33 PM

Quote from: ?? on ??

Additionally, ETF will "hurt" Bitcoin on long term since it will make people think bitcoin as investment rather than cryptocurrency.

Crypto exchanges have already made sure of that. Their next scam that drives people nuts are IEOs, and we're at the very beginning of another massive wave of hype and fomo.

Investment's too good a word for that. I think they're treating it as a quick money flip. And damn these IEOs. Couldn't escape not knowing them from the emails that managed to get past my spam. And of course Bittrex shilling theirs. People will fall for that, sadly.

passwordnow

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They will promise that there will be a certain deadline and when we are near to that date, they will announce for an extension. They really don't have plans to approve any of the Bitcoin ETF proposals. People are getting tired of this kind of drama from them, they just have to tell that they won't approve it, to cut people's expectation about that.

BitHodler

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It's time for the SEC to cut through this dog shit. It's already known to them that the ETF proposals in their current form don't stand a chance to be approved, especially not while the proposals are also coin backed.

I think the only reason they keep delaying their decisions instead of rejecting them directly, is to avoid making themselves look anti Bitcoin in the public with how easily triggered people in the crypto world are.

Quote from: ?? on ??

Additionally, ETF will "hurt" Bitcoin on long term since it will make people think bitcoin as investment rather than cryptocurrency.

Crypto exchanges have already made sure of that. Their next scam that drives people nuts are IEOs, and we're at the very beginning of another massive wave of hype and fomo.

bL4nkcode

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Bitcoin BTC ETF: SEC stalls proposal yet again; decision pushed to May 2019

In what could trigger a bearish decline for the cryptocurrency market, the United States Securities and Exchange Commission [SEC] has yet again stalled a publicly traded Bitcoin BTC product. The top regulator released a public notice to the effect on March 29.

“The SEC has extended its deadlines to approve or deny the Bitwise and VanEck bitcoin ETF proposals to May 16 and May 21, 2019. The SEC can, and almost certainly will, delay both ETF proposals two more times.
The SEC’s *final* deadlines will be October 13 and October 18, 2019.”

https://ambcrypto.com/bitcoin-btc-etf-sec-stalls-proposal-yet-again-decision-pushed-to-may-2019/

Now, I wonder if there are still people here expect this ETF will be approved. I see no reason the decline or approval will gain more popularity or demand to bitcoin.

Topic: [2019-03-31] Bitcoin [BTC] ETF: SEC stalls proposal yet again; decision pushed.. (Read 193 times)