Bitcoin ETF by 2nd quarter of 2021? - page 2.

kotajikikox

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Quote from: bbc.reporter on August 17, 2020, 08:26:09 PM

I predict yes, there will be an ETF by 2nd quarter of 2021 with the crypto mom Hester Peirce sworn in as an SEC commisioner yesterday.

I also predict that the first ETF for bitcoin approved will be the Winklevoss ETF.

The Securities and Exchange Commission today announced that Caroline A. Crenshaw and Hester M. Peirce have been sworn into office as SEC commissioners.

Read in full https://www.sec.gov/news/press-release/2020-184

Where only 4-5 months before second quarter arrived is there any follow up news about this one?specially now that Trump Lose the election and New government will face us?

Quote from: aesma on November 18, 2020, 06:45:28 PM

Another advantage of ETFs is that it could bring people in for the long term. They wouldn't necessarily bail out at the first BTC crash, they could buy more.

Hope that People inside crypto will decide about that and for sure the ETF's approval happens the very moment this was passed.

But we knew what is the agenda of the people behind this both side the favor or not.

adaseb

legendary

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There is a joke going on that Microstrategy has pretty much launched a Bitcoin ETF since they are wanting to buy another $400 million worth of BTC. And since they already bought like $550M worth, and current unrealized profits are over $1B currently most of their market value is based largely on bitcoins price.

If you add MSTR to tradingview and compare it to BTC you will see the very close correlation. MSTR is different from GBTC because GBTC are OTC from what I recall. Not everybody can buy that especially people who want to use their retirement funds. MSTR is different because its on Nasdaq and most brokerages support it. Ideally it will only work one way. If BTC goes up, so does the stock but not the other way around. If MSTR goes up, doesn't mean BTC will go up.

bbc.reporter

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Quote from: 7788bitcoin on November 18, 2020, 05:25:07 PM

Quote from: exstasie on November 18, 2020, 12:21:12 AM

An ETF is still a huge deal, it's just not being hyped anymore.

The reason for not having the same hype as above is obvious as everyone is hearing about this for the past 4 years and everyone time the proposal is reviewed they reject them and when you go through multiple rejections the hype will die down Cheesy

.

If the prediction is true and if we get the approval by the second quarter of 2021 then everything will align together for the big push and we might see a huge rally that might take us to new levels.

Is that an argument that the bitcoin market is nothing but pumps and dumps on news? I reckon it appears this way many times hehehe.

In any case, there is demand from investors that want to invest on bitcoin but not direct exposure on bitcoin's volatility. The ETF is the only answer.

However, he is worried about bitcoin’s volatility and the regulators’ adverse response to it. “Every time I talk off the record to the regulators, because I talk to them all the time for various reasons, they’re a little squeamish on bitcoin, they are not quite there yet,” he cautioned.

O’Leary added, “When I can get this thing regulated so that I can put millions of dollars into it and know that I’m not off the side in any way. I’m not breaching anything … and it would be stable,” he affirmed:

If that was the case, if tomorrow morning we woke up and the SEC said you can create an ETF with bitcoin and we think bitcoin is a legitimate, you know, payment system and store of wealth, not only would it go up but you’d have a lot of people like me investing in it.

Source https://news.bitcoin.com/shark-tank-kevin-oleary-5-portfolio-sec-approved-bitcoin-etf/

beerlover

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If there is a big ETF that is going to affect bitcoin it will not really big this easy and it will not be this unimportant news that nobody cares about. You have to realize even on this bitcointalk forum you can see how much one news is important or not important.

If you write about a news and something potentially happening and there is 5+ pages per day written about it, until it reaches 30+ pages and becomes not so hyped, you can think it is an important news that will affect the price, but if it has only few pages after few days, it is not as important as you think it is.

What people think about this news and how many people write about it matters because bitcoin market is something that is changing constantly according to people who buy and sell and you can understand who wants to buy or who wants to sell depending on the reaction for the news.

aesma

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fly or die

Another advantage of ETFs is that it could bring people in for the long term. They wouldn't necessarily bail out at the first BTC crash, they could buy more.

TimeTeller

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Quote from: 7788bitcoin on November 18, 2020, 05:25:07 PM

Quote from: exstasie on November 18, 2020, 12:21:12 AM

An ETF is still a huge deal, it's just not being hyped anymore.

The reason for not having the same hype as above is obvious as everyone is hearing about this for the past 4 years and everyone time the proposal is reviewed they reject them and when you go through multiple rejections the hype will die down Cheesy

.

If the prediction is true and if we get the approval by the second quarter of 2021 then everything will align together for the big push and we might see a huge rally that might take us to new levels.

Right now, with or without ETF, crypto is enjoying the market.
But we are not discarding its effect if in case it will push thru next year.
But til then, let's just optimize our opportunities these days before we regret again the time that we should have made some investments.
Yes, people are tired of hearing this. So we basically just wait what's gonna happen to this proposal and not make a big deal out of it.

7788bitcoin

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Quote from: exstasie on November 18, 2020, 12:21:12 AM

An ETF is still a huge deal, it's just not being hyped anymore.

The reason for not having the same hype as above is obvious as everyone is hearing about this for the past 4 years and everyone time the proposal is reviewed they reject them and when you go through multiple rejections the hype will die down Cheesy

.

If the prediction is true and if we get the approval by the second quarter of 2021 then everything will align together for the big push and we might see a huge rally that might take us to new levels.

FanEagle

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Quote from: stompix on November 18, 2020, 12:47:40 AM

He has said that he sees the ethereum foundation doing the same as the company behind ripple, and if they start focusing on it it will be actually harder for them as they label themselves a non-profit organization with less room to maneuver in this case, and judging by how the bitcoin foundation acted probably they have lots of skeletons in their closets also, they've got also at least one member arrested so far, so while trailing behind they might catch up to it pretty soon. I'm pretty sure the SEC is going to keep an eye on things like this one.

Even if he goes after ethereum foundation, that is the foundation and not the currency itself, ethereum could still continue without the foundation and it would still be fine. However we need to realize that foundation and company are not same things, if found guilty by USA and even charged with something, there are plenty of members of the foundation outside of USA that could continue, and whoever gets jailed or found guilty could be replaced with someone new and could continue without a problem.

Whereas ripple is not like that, it is just one company with two partners and if you jail them it is all game over, it can't continue its existence without the company and companies could be punished compared to foundations which can't be. Hence I think there is no worrying for eth, but xrp could be in big trouble.

stompix

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Blackjack.fun

Quote from: FanEagle on November 17, 2020, 09:34:51 AM

Gary Gensler would probably go harder on XRP than ETH because one of them is a company while the other one is a crypto currency. There is no company or a business behind ETH so you can't really go after ETH that much, what you can go after is the tokens or projects that base their business on ETH blockchain which could happen but simple solution would be to start a business outside of USA and they would be fine.

He has said that he sees the ethereum foundation doing the same as the company behind ripple, and if they start focusing on it it will be actually harder for them as they label themselves a non-profit organization with less room to maneuver in this case, and judging by how the bitcoin foundation acted probably they have lots of skeletons in their closets also, they've got also at least one member arrested so far, so while trailing behind they might catch up to it pretty soon. I'm pretty sure the SEC is going to keep an eye on things like this one.

btc_angela

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Quote from: exstasie on November 18, 2020, 12:21:12 AM

Quote from: adaseb on November 17, 2020, 12:08:04 AM

Do we really need a Bitcoin ETF anymore, this isn't like 2016 anymore. We got tons of regulated exchanges like Coinbase or Gemini for US clients. We got regulated bitcoin futures. We got Bakkt. We also got cash apps like Square. We got GBTC. We got Robinhood with Crypto and couple weeks back we got Paypal crypto. So if people want to invest in crypto, they got tons of options right now.

An ETF is still a huge deal, it's just not being hyped anymore.

Right, and the closet we get is, Bitcoin-linked ETF surges as cryptocurrency eyes fresh record high.

Quote

Shares of the Grayscale Bitcoin Trust exchange-traded fund GBTC, +6.89% surged 3.2% Thursday as the price of the cryptocurrency BTCUSD, 0.24% moved higher. Grayscale's ETF is the closest investors can get to making trading bets on Bitcoin, since regulators have declined to allow the currency itself to be packaged into an ETF. GBTC tracks price movements in the digital currency, which has recently made a run at a fresh record. Among other things, Bitcoin's popularity increases along with easy-money policies in traditional money markets. Its all-time high was close to $20,000 three years ago. In the year to date, GBTC has gained nearly 120%.

And I think it will be the hype that we needed to push the price to $20k at least if there will be an approval from SEC, as it will capture the interest of more investors to BTC.

exstasie

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Quote from: adaseb on November 17, 2020, 12:08:04 AM

Do we really need a Bitcoin ETF anymore, this isn't like 2016 anymore. We got tons of regulated exchanges like Coinbase or Gemini for US clients. We got regulated bitcoin futures. We got Bakkt. We also got cash apps like Square. We got GBTC. We got Robinhood with Crypto and couple weeks back we got Paypal crypto. So if people want to invest in crypto, they got tons of options right now.

Traditional stock investors and long term investors don't trade futures or touch Bitcoin spot exchanges. GBTC is extremely expensive and mainstream stock investors don't touch the pink sheets anyway.

In the same way that Paypal is exposing a huge new market to BTC, and providing customers access to investment exposure, so will an ETF. Not to mention that a liquid ETF will pave the way for mainstream pension/retirement fund options that provide exposure to BTC. These are massive markets that are still largely untapped.

An ETF is still a huge deal, it's just not being hyped anymore.

aesma

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fly or die

A BTC ETF woud be good for sure. ETFs are all the rage, BTC is also getting notices, a combination of the two would bring in billions for sure, and help the price stay at current high levels, or go higher.

palle11

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Quote from: enhu on August 19, 2020, 01:39:09 PM

The consideration in the past years and during the bear market just died and now the talks about ETF have again resurfaced while its now almost in the bull trend. While its will be great to have ETF approved, its best not to expect or just be disappointed over again. If it's going to be reconsidered, I think they will just approve a lot of crypto ETFs at once.

Moreover there is certainty in the writing of op on the new boss but no reference to his positive support for ETF approval in the past. If he has not shown a strong will for the approval before his appointment, then it seems that politics will continue playing out in the issue.

Lucius

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Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: adaseb on November 17, 2020, 12:08:04 AM

Do we really need a Bitcoin ETF anymore, this isn't like 2016 anymore. We got tons of regulated exchanges like Coinbase or Gemini for US clients. We got regulated bitcoin futures. We got Bakkt. We also got cash apps like Square. We got GBTC. We got Robinhood with Crypto and couple weeks back we got Paypal crypto. So if people want to invest in crypto, they got tons of options right now.

It is not at all a question of whether we need a BTC ETF or not, it already exists (only not in the US), but it is a question of when it will be approved there as well. One such mechanism should not be taken so lightly, because when ETF proposals were a hot topic, most experts agreed that they would be the perfect bridge between big investors and Bitcoin. Now we can ask the question if we want trillions of $ of their money, because no matter what ETF/s would launch the price into the sky, in the long run it would probably be detrimental for BTC.

A good article about the BTC ETF, it's not bad to be reminded of what it's really about -> Bitcoin ETF: Everything You Need To Know

FanEagle

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Gary Gensler would probably go harder on XRP than ETH because one of them is a company while the other one is a crypto currency. There is no company or a business behind ETH so you can't really go after ETH that much, what you can go after is the tokens or projects that base their business on ETH blockchain which could happen but simple solution would be to start a business outside of USA and they would be fine.

XRP on the other hand is a company that also works with other companies who are mainly in USA which means getting outside of USA wouldn't be enough for them if they lose all their american partners. Which is why I believe we are going to see a huge drop in XRP if there is even a single investigation towards them, they are staying high thanks to their deals and their deals will be done with if they get a big investigation going.

stompix

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Blackjack.fun

Quote from: bbc.reporter on November 16, 2020, 10:15:07 PM

News update.

I reckon if cryptomom will be assigned as the Chairman of the SEC, it might be the begin the golden years of the cryptospace as a market for speculative investments, ETFs and as a market for innovation where democratic fundraisers are legal.

You know that she was the Republican pick, and that with the tables turned in the elections unlss Trump somehow manages to give her that place before January the chances after that are way below zero? There is already a fight behind the curtains for this job and not between the two parties but between the democrats themselves, and cryptomom is on nobody's list. As for Gary Gensler, that's not so good news for XRP and ETH.

But, besides that, who still cares about ETFs, it's like that flying car that everybody wanted but once they finally make one there will be little to no buyers.

adaseb

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Do we really need a Bitcoin ETF anymore, this isn't like 2016 anymore. We got tons of regulated exchanges like Coinbase or Gemini for US clients. We got regulated bitcoin futures. We got Bakkt. We also got cash apps like Square. We got GBTC. We got Robinhood with Crypto and couple weeks back we got Paypal crypto. So if people want to invest in crypto, they got tons of options right now.

I don't think a approved bitcoin ETF will have as much impact in 2021 as it might of had back in 2017 when the ETF was rejected. However I do agree with you that most likely the Bitcoin ETF will be approved. Maybe in 2021 or 2022 or so. Bitmex seems to be having less of an impact on the markets and its a plus since it was a large hurdle with regulators in the past.

btc_angela

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@bbc.reporter - maybe you can consider this as another sign of a Bitcoin ETF by 2021,

So there's a lot of changes from behind, so maybe, just maybe a ETF could be in the horizon next year as you have predicted, hehehe.

https://www.coindesk.com/biden-confirms-gary-gensler-will-lead-financial-policy-transition-team

Quote

Gary Gensler, a Washington and Wall Street veteran who has closely studied the budding cryptocurrency field, will lead the financial policy transition team for projected U.S. President-elect Joe Biden.

A former chairman of the Commodity Futures Trading Commission (CFTC), Gensler was tapped to lead the agency review team for the Federal Reserve, banking and securities regulators, the Biden campaign formally announced Tuesday, following reports last week he was a contender.

As CFTC chairman, Gensler served as a key financial regulator for former President Barack Obama, spearheading new derivatives rules after the 2008 financial crisis. He also served in the Treasury Department during the Clinton administration.

More recently, he has also testified before Congress about cryptocurrency and blockchain on multiple occasions, pushing back against comparisons between cryptocurrencies and Ponzi schemes and declaring that the still-unlaunched libra token met the requirements of being a security under U.S. law. At an MIT conference two years ago, he opined there was a “strong case” XRP (XRP, +11.30%), the cryptocurrency closely associated with startup Ripple, is a security. Gensler called blockchain technology a “change catalyst” in a 2019 op-ed for CoinDesk.

bbc.reporter

legendary

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News update.

I reckon if cryptomom will be assigned as the Chairman of the SEC, it might be the begin the golden years of the cryptospace as a market for speculative investments, ETFs and as a market for innovation where democratic fundraisers are legal.

Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), is stepping down from the agency at the end of this year.

Clayton's departure comes months ahead of his scheduled release in June 2021. Clayton was sworn in as the SEC chairman in May 2017 after being appointed by President Donald Trump. Now that Joe Biden has been elected as the new U.S. President, it remains to be seen who replaces Clayton.

In the crypto community, Clayton is also known for his cautious stance on bitcoin exchange-traded funds (ETFs).

Several bitcoin ETFs were filed with the SEC for approval under Clayton's leadership, but none received the green light.

The crypto market could see some clarity around these issues if SEC Commissioner, Hester Peirce (aka Crypto Mom), replaces Clayton and takes the agency's helm.

Source https://www.theblockcrypto.com/post/84713/sec-chairman-jay-clayton-stepping-down

bbc.reporter

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@el kaka22. However, the ETF will not be an outlet offered only for small investors. I am certain that it will be the principal outlet created for institutional investors who want some exposure to bitcoin strictly as an investment.

Topic: Bitcoin ETF by 2nd quarter of 2021? - page 2. (Read 1156 times)