Topic: [2019-1-25] When Bitcoin ETF? Not Any Time Soon, But Maybe by 2020 - page 2. (Read 357 times)
January 25, 2019, 04:51:18 PM
We don't need an ETF. I said it before and I'll say it again. People are trying to make us think that ETF would start a rally but we had a rally to 20000 dollars without it and even better we had it in time when the first ETF was rejected and they reapplied and got rejected again. During that second rejection Bitcoin was worth twice more than it is now so let's stop pretending like the ETF has any impact on price.
January 25, 2019, 03:15:39 PM
I don't blame the SEC for not approving an ETF, this market just isn't ready for it yet, so let's wait and see what Bakkt and the Nasdaq entering this space will do. I'm certain that the odds of an approval are much higher with these players on board.
That's assuming the CFTC approves both Bakkt and Nasdaq's futures platforms, which I am not that confident about. I also don't like how Bakkt sells itself and teases with launch dates they can't back up without approval.I'm glad that the speculation around this ETF has come to an end, because it was clear after the first delay that it wouldn't pass, which makes it even more pathetic how Bitwise thinks it will succeed with its ETF where Vaneck lacked....
January 25, 2019, 10:08:41 AM
In order for the US to approve an ETF, there needs to be more local market making and demand, because what can you do when all the crazy and shady stuff happens on exchanges they have no control over legally? I don't blame the SEC for not approving an ETF, this market just isn't ready for it yet, so let's wait and see what Bakkt and the Nasdaq entering this space will do. I'm certain that the odds of an approval are much higher with these players on board.
In the end, the market not responding either means the price has been adjusted (Jan Van Eck mentioned that they pulled 4000 Bitcoin investors which is quite interesting) last year to reflect this, or it simply doesn't care anymore. Let's be honest, they don't figure out spontaneously that it's better to withdraw their application. It's something they have been pondering over for months.
In the end, the market not responding either means the price has been adjusted (Jan Van Eck mentioned that they pulled 4000 Bitcoin investors which is quite interesting) last year to reflect this, or it simply doesn't care anymore. Let's be honest, they don't figure out spontaneously that it's better to withdraw their application. It's something they have been pondering over for months.
January 25, 2019, 06:37:44 AM
When Bitcoin ETF? Not Any Time Soon, But Maybe by 2020
For the first time in more than a year, there are no active bitcoin exchange-traded fund (ETF) proposals pending before the U.S. Securities and Exchange Commission (SEC).
Money manager VanEck, financial services firm SolidX and Cboe BZX Exchange withdrew a highly-anticipated proposal Tuesday, citing an ongoing U.S. government shutdown as the reason. The proposal, first filed last June, faced a final deadline of February 27 for approval or rejection. Due to the shutdown, many legal experts anticipated that the SEC would reject the proposal outright rather than let it be approved by default.
VanEck CEO Jan van Eck said the companies will “re-file and re-engage in the discussions” with the SEC when the shutdown ends, he did not provide a timeline for when this may happen. And indeed, it is unclear when the government will reopen – while the U.S. Senate was set to vote on two different bills that could potentially re-open the government, neither bill passed.
https://www.coindesk.com/heres-whats-next-for-bitcoin-etf-prospects
Apparently VanEck SolidX Trust is decided to withdraw their proposal and not to wait final deadline. Maybe a little strange decision, but obviously they realized chances for approval are actually 0 at this moment. Maybe it is good that this chapter is finally ended, at least there will be no false hopes that BTC ETF can make some changes this year.
For the first time in more than a year, there are no active bitcoin exchange-traded fund (ETF) proposals pending before the U.S. Securities and Exchange Commission (SEC).
Money manager VanEck, financial services firm SolidX and Cboe BZX Exchange withdrew a highly-anticipated proposal Tuesday, citing an ongoing U.S. government shutdown as the reason. The proposal, first filed last June, faced a final deadline of February 27 for approval or rejection. Due to the shutdown, many legal experts anticipated that the SEC would reject the proposal outright rather than let it be approved by default.
VanEck CEO Jan van Eck said the companies will “re-file and re-engage in the discussions” with the SEC when the shutdown ends, he did not provide a timeline for when this may happen. And indeed, it is unclear when the government will reopen – while the U.S. Senate was set to vote on two different bills that could potentially re-open the government, neither bill passed.
https://www.coindesk.com/heres-whats-next-for-bitcoin-etf-prospects
Apparently VanEck SolidX Trust is decided to withdraw their proposal and not to wait final deadline. Maybe a little strange decision, but obviously they realized chances for approval are actually 0 at this moment. Maybe it is good that this chapter is finally ended, at least there will be no false hopes that BTC ETF can make some changes this year.
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