Bitcoin ETF: SEC Receives 84% Negative Feedback on Application - page 3.

sunsilk

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Quote from: posi on March 19, 2019, 04:09:24 PM

I myself dont personally dont have much interest in the bitcoin ETF and I have also said several time that I dont see the SEC accepting the ETF because it will literally be a terms which some powerful people will use to control or manipulation crypto market. In the case of CBOE and CME we also see some people who use the advantage of it to causes market down trend.

I think from the very start they really don't have plans to approve it, there were applications already before this noise made by the WV twins but still rejected. And most of the applications last year were rejected too and now that they ask for feedback, still negative.

With the delay and other reasons that SEC is coming up with the application of bitcoin ETF, we tend to lose interest to it. Now, most are coming up with that idea that we really don't need it.

dothebeats

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Back then people thought that the ETF is what bitcoin needs for it to gain traction and create another dramatic bull run which will net them a lot of profit. Those delusions and wrong assumptions ultimately waned and faded because SEC wouldn't give in, and people have shifted their attention towards something more doable on their terms without relying on the authority to make the move. See, just like the Chinese back in 2015 who lost its charm on the market over time, the ETF is also experiencing the same scenario albeit having a direct effect on the market given that most people bank on it. Even the futures market hype has died out after the ATH has withered..

posi

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Quote from: stompix on March 19, 2019, 03:20:24 PM

This whole ETF thing has gone from being so much desired with people eagerly waiting for it to a thing that only gets a meh! or a yawn!. Probably by the time one of them finally get the green light there will be no one left to clamp their hands.

And, why do we need those ETF? For "investor's money'"? For "Wallstreet"?
I remember how many were enthusiasts when CBOE launched its future options, about the same number as the ones blaming them afterward for dragging down the price..

I myself dont personally dont have much interest in the bitcoin ETF and I have also said several time that I dont see the SEC accepting the ETF because it will literally be a terms which some powerful people will use to control or manipulation crypto market. In the case of CBOE and CME we also see some people who use the advantage of it to causes market down trend.

stompix

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This whole ETF thing has gone from being so much desired with people eagerly waiting for it to a thing that only gets a meh! or a yawn!. Probably by the time one of them finally get the green light there will be no one left to clamp their hands.

And, why do we need those ETF? For "investor's money'"? For "Wallstreet"?
I remember how many were enthusiasts when CBOE launched its future options, about the same number as the ones blaming them afterward for dragging down the price..

butka

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I see that some of the negative comments revolve around market manipulation and people losing money. I tend to agree with the assessment that there is market manipulation. But there is also market manipulation (by the big banks) in the forex market that goes unpunished. People losing money is hardly an argument also. Nobody is forcing anybody to invest or trade for short term gains.

That being said, I don't think that Bitcoin needs an ETF. ETF can be a hidden source of inflation and additional manipulation. So we are better off without it.

cybersofts

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The industry’s enthusiasm for a Bitcoin ETF (exchange-traded fund) appears to be waning — if you judge that by the dearth of new comment letters to the Securities and Exchange Commission in support of the investment vehicle.

The SEC received just seven comment letters from the public in response to a solicitation for feedback it had requested in February 2019. Of those, six urged the agency to reject the application. (That’s around 84%.)

Reference: https://www.ccn.com/bitcoin-etf-sec-receives-84-negative-feedback-on-application

Topic: Bitcoin ETF: SEC Receives 84% Negative Feedback on Application - page 3. (Read 14604 times)