The only way to do this, would be to buy 1000s of coins and to trade those coins in a closed market. The global market price, will not have any influence on those coins in the closed market.
Topic: Another ETF proposal : Bitwise - page 2. (Read 400 times)
The SEC will only approve Bitcoin ETFs, when they can control every aspect of it. They will have to make sure that external price manipulation will not be possible and all transactions and trading must be traced with their surveillance software.
The only way to do this, would be to buy 1000s of coins and to trade those coins in a closed market. The global market price, will not have any influence on those coins in the closed market.
The only way to do this, would be to buy 1000s of coins and to trade those coins in a closed market. The global market price, will not have any influence on those coins in the closed market.
Nobody talks about ETF's anymore. The market defended itself even after the recent pulling out of CBOE from the everyone's hope of VanEck-Solidx Bitcoin ETF.
what's the point of it when SEC continues to reject all of them.
I agree that there's no more point of applying for further proposals IMO. Even the earliest proposal from the Winklevoss twins before around 2016 IIRC was also rejected. Everyone also expects that this bitwise ETF proposal will have the same fate with the first' proposals.
This is not the ETF we need at the moment and I'm sure this won't have impact on bitcoin price ,I think we should just move on and forget about ETF this year 2019 because its not going to happen ,I saw it on news that its been rejected anyway ,its time for those who are weak to leave crypto for good
do people still talk about ETFs?!! what's the point of it when SEC continues to reject all of them. it is now guaranteed to be rejected. and unlike what it says in the OP i don't think it is any different from others. there have been a couple of other proposals which were similarly relying on getting the prices from multiple exchanges. in fact i think ever since Winklvos brothers' ETF which relied on one exchange (their own) for prices was rejected, other ETFs started changing their proposals and rely on multiple ones. but they all get rejected the same.
I do not like to see bitcoin mentioned in the same sentence or mentioned in the same breadth as regulation or centralization.
Bitcoin is meant to be used as a means of exchange, a currency and not an asset class with speculative value.
Furthermore, I doubt ETF would be beneficial in the goal of achieving price stability.
Bitcoin is meant to be used as a means of exchange, a currency and not an asset class with speculative value.
Furthermore, I doubt ETF would be beneficial in the goal of achieving price stability.
I personally do not give a single fuck about any ETF to be honest, price went to 20k before most people knew what ETF was.
the moment people started to wait for ETF to boost price, the market just kept crashing, the bull run will start with or without ETF.
the moment people started to wait for ETF to boost price, the market just kept crashing, the bull run will start with or without ETF.
I am not great at this, but I guess that Bitwise ETF is a cash-backed Bitcoin ETF. And if it's so, I won't be too happy about it, especially after reading this article "Bitcoin ETFs - Cash-backed Vs. Physical: How Will They Impact the Market?"
However, I think that we give too much importance to these ETFs...
However, I think that we give too much importance to these ETFs...
A new Etf proposal was made yesterday by Bitwise :
https://www.ethnews.com/bitwise-hopes-its-new-etf-proposal-can-sway-the-sec
"Bitwise Asset Management has filed a Bitcoin exchange-traded fund (ETF) proposal with the US Securities and Exchange Commission. The initial registration statement on Form S-1 is dated January 10."
https://www.prnewswire.com/news-releases/bitwise-files-for-new-bitcoin-etf-300776268.html?tc=eml_cleartime
“The proposed ETF differs from previously filed proposed Bitcoin ETFs in that it will rely on regulated third party custodians to hold its physical bitcoin, and in that the index draws prices from a large number of cryptocurrency exchanges, representing the majority of currently verifiable Bitcoin trading.”
https://www.ethnews.com/bitwise-hopes-its-new-etf-proposal-can-sway-the-sec
"Bitwise Asset Management has filed a Bitcoin exchange-traded fund (ETF) proposal with the US Securities and Exchange Commission. The initial registration statement on Form S-1 is dated January 10."
https://www.prnewswire.com/news-releases/bitwise-files-for-new-bitcoin-etf-300776268.html?tc=eml_cleartime
“The proposed ETF differs from previously filed proposed Bitcoin ETFs in that it will rely on regulated third party custodians to hold its physical bitcoin, and in that the index draws prices from a large number of cryptocurrency exchanges, representing the majority of currently verifiable Bitcoin trading.”
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