Topic: ***BREAKING *** Bitcoin ETF is approved - page 2. (Read 492 times)

Right, many jump on the bandwagon again, pushing it to almost to $63k.

But the market has settled this weekend, it's down to $60k++, so probably the news about it getting approved is already price in. Nevertheless, there's a lot in line this October, whether rejected or not, I think the price will remain above $60k for some time. Until there is another good news to bolster the market again.

And that's the "problem" for me. It's not actually greenlighted, but I believe everyone and their trading mom is pricing it in, the eventual go ahead shouldn't really do much. Unless the SEC itself makes a big deal out of it or provide commentary on why they approved it and actually said something nice about Bitcoin (but that's just my non-technical reasoning).

Not so many hours left to a possible decision.

It has not been approved by the SEC as other have mentioned. This is only Nasdaq’s public announcement that they are ready to list. These are the real dates for the approval or rejection.



Wait for Sunday if it pumps, if it does not pump and appears to he waiting for news, I speculate there will be sell on news dump.

Also, from Gary Gensler’s latest statements on bitcoin and the cryptospace, would anyone say that there will be an approval for an ETF?

After so many years of trying, it was finally approved. This is indeed a good news and of adoption everyone is waiting for but nobody is actually actually talking about the base side of ETF. We all know real btc trade 24 hours a day and 7 days a week continuesly but ETF trade only Monday to Friday, this will continue to open gap during the weekends and even eliminate volatility completely.

We will slowly see more and more ETFs in the Crypto space. Most will start trading companies investing in BTC and mining BTC (i.e. avoid direct exposure to get around regulation issues).

This is happening in Australia with Betashares launching their CRYPT ETF (https://www.betashares.com.au/news/betashares-crypto-innovators-etf-cryp-coming-soon-to-the-asx/).

Once there is direct exposure to BTC we will see a significant price jump as industry funds can begin to get involved.

ETF companies are seeing the interest and money to be made. Every ETF survey I've been sent over the past 12 months has asked about my interesting in investing in a range of new "trends" e.g. Ethical investing, etc. Crypto Currency has always been listed.

Personally I prefer to hold directly as there's no fees (bar purchase) but I can see why there is a need for ETFs in the crypto space.

Remember - we're still early in the adoption phase!

its not approved. the nasdaq just confirming they received an application. and WHEN aprroved they will list it.

i can personally create a whole new financial tool requiring like 5 years of SEC debate and to-and-through. yet i can get a nasdaq listing offer in weeks. it means nothing by itself

meaning there will be no listing on the 18th(monday first business day after the letter)

its just a letter saying they WANT to hurry up the approval process,
NOT a letter saying the approval process has been accellorated
NOT a letter saying the approval is confirmed

calm down guys.

..
once a ETF is actually approved. the excitement will not be in that first company. but on a fact that there is a template that other companies can copy to get their own companies approved by following the leaders policies. then you will see hundreds of ETF get default approved in fast succession

but that time is not now. the company named in the letter has not been approved by the SEC. and no information has been shown to say when/if they will be successful.

these letters are not confirming the ETF is approved. instead its like a notice of intention or a notice that the business is more then just vapourware. businesses use these letter not to start running the business but just to show off to investors that something is coming. basically its a way to sway investors to start handing them money before the business even begins

It won't stablize the market volatility too much if there is no thresholds for upper and lower bands of price intra-day. If there is no circuit break for crypto market, Bitcoin ETF can not stabilize the market.

If you look back at what happened in the market in March 2020, with the announcement of WHO about the pandemic, all the market on Earth crashed too the hell. Do we have Gold ETFs, so how did the price of Gold perform back in 2020? At some points, crude oil even was traded with negative price.

• On April 20, 2020, the front-month May 2020 WTI crude contract dropped 306%, or $55.90, for the session, to settle at negative $37.63 a barrel on the New York Mercantile Exchange.

seems like correct as we are nearing 63k to break and any moment another ATH will come .
but what i found odd is the timing . why all of a sudden the approval happens when China's acting very aggressive towards bitcoin?
is there any connection behind those?
hope this is correct and valid .

Breaking. ETF green light is already priced in.

Not to be a wet blanket but OP proves that the market is already reacting or has already executed all the actions as if the ETF is active and go. So when it eventually does (we're all in agreement right?) trade, most of that good feeling and sentiment would have been set in. Not that this won't be the trigger to many more new ATHs!

Yea, lots of people have definitely been mislead with these kinds of headlines on social media, and it definitely helped the upward price pressure. But to be fair, apparently the chances of the futures ETF being approved is really high.

+1. I also saw this,  so probably this is one of the reason of recent pumps on Bitcoin, about ETF.
But this thing OP posted, it seems may some people misunderstand it. As I understand about this is, only NASDAQ approved it for now.

Overall it's good for me, I don't find any bearish as if it is expected to happen. But even SEC will not approve this, I believe the reaction of it in the market will be normal as we  experienced these past few years.

Finally, what we were waiting for a long time ago was approved. Maybe this is why bitcoin directly jumps and breaks to $61k and is stable at this price. I am sure this can positively give the investors and make them the confidence to invest in bitcoin. So we can expect to see the next ATH from this month or the rest 3 months of this year and if that can happen, it will open many people's eyes out there who do not believe that bitcoin has its value and will be good for their investment.

The main reason for the ongoing Bitcoin uptrend is the anticipation of the ETF approval. We are still waiting for the final clearance from the SEC though and we have to notice that under the new SEC chief seems to me that the agency is adopting a more concerned and less friendly look at cryptocurrency and its related businesses. Now, some may remember how the Bitcoin futures instead pushed back the price of Bitcoin below so I am really hoping that this will not be the case with ETF.

Wait what? The SEC haven't approved lol. It literally says in the paper: "have been approved by the Exchange for listing and registration upon official notice of issuance."

It just says that they had the go signal from Nasdaq for listing, but they'll still be waiting for the decision from the SEC.

It's definitely going to attract investors, it's been too long for the ETF to be approved though it's always better to be late than never, a lot of people are likely to invest now that Bitcoin ETF is approved, because of this news, I'm also expecting that the bull run will definitely continue at least until October ends.

I really hope so as a fellow Bitcoin holder but the real effect of ETF IMHO is to stabilized the volatility of crypto market due to the increased of liquidity in Bitcoin coming from ETF money, The only thing that will drive the price up in an incredible rate is speculation that already happened before the approval. I was expecting the approval to be on December as they delayed the ruling on SEC previous announcement. I don't know why SEC approved it for a short notice. People don't have time to speculate more.

It will officially start next week, so expect that this bull run will continue up to $63k or even a new all time high.

Yes, I know that this is long overdue and people might say that we don't need this. But at least with this stamp of approval coming from SEC, I'm sure BTC will gain more traction to more whales and institutions. So I would say that this is very welcoming news to the crypto market in general. A good sign indeed, and very positive in the long term.

Well, The point is that certain institutions that cannot buy Bitcoin directly due to regulatory issues or have difficulty doing so, have it much easier with the Bitcoin ETF, which is expected to bring a wall of money to the Bitcoin market.

Although it is a futures ETF, but with this a pure Bitcoin-based ETF is closer. These is a previous small step.


We may not need it but we'll get there much faster.

Bloomberg posted an article about this. Although we may not need ETF to go up to $64K, the institutions are positive about it. They needed this ETF for it to be part of their portfolio asset.  There are many investment management fund management are positive for BTC ETF to be approved which I guess they are very right about it. If we have to cement BTC as a legal asset, BTC ETF would be good.

On that side of the story, we should be grateful for what Bitcoin has achieved right now. This could probably attract more upcoming investors as well as holders to keep their strong faith towards cryptocurrency.
Our community has been doing great, and I believed someday we will be experiencing more profitable gains that we never expected in our whole life. Let's keep going and don't ever give up with our determination to meet our goals.