Bitcoin ETF will make way for altcoins ETF

DubemIfedigbo001

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Quote from: Richbased on January 12, 2024, 09:53:03 AM

You're very observant Legendary, I believe SEC will find it difficult to approve ETFs on altcoins because they know that they don't have high volatility as Bitcoin

Let me believe that this is a typo or wrong selection of grammar, high volatility has to do with unpredictability, unstability and possibility of going worse direction. that is not a pro for bitcoin and isn't among its unique selling points or the basis of comparism in line with the tone of your reply.

The right word should be stability and sustainability because Bitcoin is far more of a sustainable project that all other altcoins and it has been known for setting the pace from time immemorial. Altcoins have always been known to follow the footsteps of its master Bitcoin. I'm not afraid at all of competition when bitcoin is involved cos the strong and unshakeable nature of bitcoin will always claim its dominance in any situation. This impending competition is not the first, and it will surely not be the last if at all it poses one. Bitcoin will triumph just as always.

Kingbtc2

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Quote from: Coyster on January 12, 2024, 05:53:44 AM

If we look at how long e been take the SEC to approve Bitcoin spot etf in the United States, you go know say Altcoins ETF no go happen overnight, if at all e go happen. I don't think there is enough request for either Ethereum, XRP (or any other altcoin) spot etf in the United States, na just as dem approve Bitcoin spot ETF i begin see news wey dey talk say na altcoins be next.

Having said that, make we watch wetin go happen, but you know say altcoins dey more risky than Bitcoin, because many of them no get use cases, so i think the SEC go dey very reluctant to approve any altcoin ETF.

I think in that case we will have to wait till May, and see if the US SEC, will approve the Ethereum ETF, since it is still awaiting their approval. SEC might want to wait a longer time as you said to see how the 11 companies including blackrock, will perform in the Bitcoin ETF, before they can consider to approve Ethereum ETF that is next in line. I will like to see it approved for Ethereum, but it is the united states'SEC that can make it possible or not in May.

Doan9269

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Quote from: Kingbtc2 on January 12, 2024, 05:22:10 AM

The much talked about Bitcoin ETF has finally been approved by the united states' SEC, I know that the development will bring many people to invest in Bitcoin and it will increase the adoption of Bitcoin. Ethereum is also inline to get approval also for ETF, starting in May, this year, if there is no delay and they get it, big companies like blackrock and Invesco, are warming up for Ethereum ETF.

If Ethereum ETF is approved by the US SEC, then it can open the door for other top rated altcoins like BNB, Litecoin, and Solana, to also want to get ETF approvals. Then people can have more to choose for investment. They might become competition for Bitcoin if they get plenty investors

Do you think that this will be a good development if Bitcoin and many altcoins have ETF?

This is not our decision to make, what we really want is about bitcoin and other cryptocurrencies can stand on their own because you can't be arest assured of any cryptocurrency when you can discover something nice about them today and find out another thing entirely different about them tomorrow, remember there are shitcoins, wouldn't they also want to get approval for ETF, there's no how Ethereum can begin and other prominent altcoins will not follow suite.

Richbased

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Quote from: Coyster on January 12, 2024, 05:53:44 AM

If we look at how long e been take the SEC to approve Bitcoin spot etf in the United States, you go know say Altcoins ETF no go happen overnight, if at all e go happen. I don't think there is enough request for either Ethereum, XRP (or any other altcoin) spot etf in the United States, na just as dem approve Bitcoin spot ETF i begin see news wey dey talk say na altcoins be next.

Having said that, make we watch wetin go happen, but you know say altcoins dey more risky than Bitcoin, because many of them no get use cases, so i think the SEC go dey very reluctant to approve any altcoin ETF.

You're very observant Legendary, I believe SEC will find it difficult to approve ETFs on altcoins because they know that they don't have high volatility as Bitcoin and besides most people who are investing in altcoin do so in other for it to pump then they sell off their coins unlike Bitcoin that people buy and hodl for a long period of time without selling off their coins so Bitcoin is more sustainable as compared to any other altcoins so even if SEC will grant ETF approval to any other altcoins, it will definitely take them longer time even more than the time it took them to approve spot bitcoin ETF.

Coyster

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If we look at how long e been take the SEC to approve Bitcoin spot etf in the United States, you go know say Altcoins ETF no go happen overnight, if at all e go happen. I don't think there is enough request for either Ethereum, XRP (or any other altcoin) spot etf in the United States, na just as dem approve Bitcoin spot ETF i begin see news wey dey talk say na altcoins be next.

Having said that, make we watch wetin go happen, but you know say altcoins dey more risky than Bitcoin, because many of them no get use cases, so i think the SEC go dey very reluctant to approve any altcoin ETF.

Kingbtc2

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The much talked about Bitcoin ETF has finally been approved by the united states' SEC, I know that the development will bring many people to invest in Bitcoin and it will increase the adoption of Bitcoin. Ethereum is also inline to get approval also for ETF, starting in May, this year, if there is no delay and they get it, big companies like blackrock and Invesco, are warming up for Ethereum ETF.

If Ethereum ETF is approved by the US SEC, then it can open the door for other top rated altcoins like BNB, Litecoin, and Solana, to also want to get ETF approvals. Then people can have more to choose for investment. They might become competition for Bitcoin if they get plenty investors

Do you think that this will be a good development if Bitcoin and many altcoins have ETF?

Topic: Bitcoin ETF will make way for altcoins ETF (Read 63 times)