Finally, after a long time of repeating and waiting SEC finally approved.
Look at the positive impact of this news despite of china's attempt to continue to release their FUD dogs. It's just right about time that this bull run might seems to make its own way to $70k before the end of the year. I think we needed more adoption before we get to see that $70k before the correction hits.
Anyway, I don't know if SEC saw something in Bitcoin but with or without them Bitcoin can stand alone with enough support of us people of course. It's just a bonus that they finally approved this after a long time of waiting.
Topic: ***BREAKING *** Bitcoin ETF is approved - page 3. (Read 492 times)
The anticipation on the approval of bitcoin ETFs had long been gone for the community. 2 or 3 years back, people are pushing for bitcoin ETFs as they believed that this is to get bitcoin into the main stage of the world's economy. We don't need it now, as companies and governments themselves realized that bitcoin is really worth something, and that people are also looking to join the free market which bitcoin currently has. Bitcoin ETFs, in today's time, is like a gift that we prayed so hard that we received so late, after receiving something better. It's still a nice thing, but I don't think that its impact would be that big now.
True.Way back then we're all optimistic about it but when we saw that bitcoin can stand alone and can rise even without these ETFs, we're not anticipating it anymore.
However since the market has pumped a lot today, maybe it's due to this approval.
I believe this is a Futures Backed ETF?
So can't see it becoming very popular - as will effectively have a 12-15% annual fee due to the cost of the futures rolls.
And if it gets to any size will hit the CME position limits (2000 contracts - 10k BTC - $600m).
https://www.cmegroup.com/market-regulation/position-limits.html
See:
https://bitcointalksearch.org/topic/why-would-anyone-buy-an-etf-that-yielded-btc-minus-12-per-year-5365787
for my logic for the 12%.
So can't see it becoming very popular - as will effectively have a 12-15% annual fee due to the cost of the futures rolls.
And if it gets to any size will hit the CME position limits (2000 contracts - 10k BTC - $600m).
https://www.cmegroup.com/market-regulation/position-limits.html
See:
https://bitcointalksearch.org/topic/why-would-anyone-buy-an-etf-that-yielded-btc-minus-12-per-year-5365787
for my logic for the 12%.
The markets seem to be reacting positively, its looking like we could have a nATH over
the weekend.
The "Bitcoin isnt backed by anything" brigade will definitely not be able to play
that card anymore.
The ETF is positive but its another Wall Street tool as far as I understand it will be FIAT
based or settled in FIAT not Bitcoin
the weekend.
The "Bitcoin isnt backed by anything" brigade will definitely not be able to play
that card anymore.
The ETF is positive but its another Wall Street tool as far as I understand it will be FIAT
based or settled in FIAT not Bitcoin
The anticipation on the approval of bitcoin ETFs had long been gone for the community. 2 or 3 years back, people are pushing for bitcoin ETFs as they believed that this is to get bitcoin into the main stage of the world's economy. We don't need it now, as companies and governments themselves realized that bitcoin is really worth something, and that people are also looking to join the free market which bitcoin currently has. Bitcoin ETFs, in today's time, is like a gift that we prayed so hard that we received so late, after receiving something better. It's still a nice thing, but I don't think that its impact would be that big now.
Here we go! Finally bitcoin ETF is approved. We still don't know what it will bring to Bitcoin, but we hope for the best.
Finger crossed
Source: https://twitter.com/julianhosp/status/1449026319388495874
Finger crossed
Source: https://twitter.com/julianhosp/status/1449026319388495874
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