CBOE files for 6 ETFs amid the chaos

scottykarate

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Quote from: BitHodler on December 22, 2017, 06:27:22 PM

Anything making sure that there is money being pumped into this market is a welcome addition. I however am a bit more conservative in these situations, mainly because of the fact that it takes time to reflect in the price.

The general impression here is that as soon as these markets go live, that Bitcoin's price will explode in value directly, which isn't the case. What we see happen is the speculation in advance of the event increasing the price.

It's like there has been a rush of all kinds of institutions to offer similar tools for everyone to gamble on. It's almost like they see it as first come first served, which to a certain extent makes sense, but it's not everything that matters.

I always prefer well set up initiatives over rushed ones.

I guess it will be crazy prices back and forth for awhile. It is necessary, however, for bitcoin to go to the next level.

figmentofmyass

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Quote from: BitHodler on December 22, 2017, 06:27:22 PM

The general impression here is that as soon as these markets go live, that Bitcoin's price will explode in value directly, which isn't the case. What we see happen is the speculation in advance of the event increasing the price.

It's like there has been a rush of all kinds of institutions to offer similar tools for everyone to gamble on

i usually agree: buy the rumor, sell the news. but this is a slightly different situation because it's actually a new investment avenue that is much more accessible to main street investors. more importantly, ETFs are often used for long term investment (not just short term hedging like futures), so i would expect money to be locked up in ETF investments longer on average than futures trades.

in other words, this isn't just about gambling and short term speculation on the price. i think people are underestimating what it means when both mom and pop and kids right out of college can roll 1% or 2% of their salaries into a bitcoin fund ---- with an employer match!! Cool

BitHodler

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Anything making sure that there is money being pumped into this market is a welcome addition. I however am a bit more conservative in these situations, mainly because of the fact that it takes time to reflect in the price.

The general impression here is that as soon as these markets go live, that Bitcoin's price will explode in value directly, which isn't the case. What we see happen is the speculation in advance of the event increasing the price.

It's like there has been a rush of all kinds of institutions to offer similar tools for everyone to gamble on. It's almost like they see it as first come first served, which to a certain extent makes sense, but it's not everything that matters.

I always prefer well set up initiatives over rushed ones.

figmentofmyass

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Quote from: godzillarekt007 on December 22, 2017, 04:05:11 PM

Who cares if there are more ways to short it, do you know what an ETF is going to do for bitcoin? I know it won't be directly related but that has to be some of the most bullish news one can expect next year for BTC and I would be thrilled if this came out sometime next year.

it will allow easy access to bitcoin exposure for mainstream investors. and not just the e-trade/scottrade variety of investors, but everyday working folks with retirement accounts. in the same way that employee/employer 401ks allow access to various stock indexes, cash, and commodity funds, people will start having access to bitcoin funds from their retirement accounts.

that means that people can use platforms they trust (not shit exchanges like coinbase and bitfinex) to invest in bitcoin with their retirement accounts tax free. and they can dump in just a tens or hundreds of dollars at a time. bullish!

Quote from: scottykarate on December 22, 2017, 04:08:54 PM

Totally agree with you. The short position would still be suicide since Bitcoin never stay down for long!

interestingly, it looks like the big boys shorted the CME futures launch very hard. they shorted the very top. don't underestimate institutional FU moves on the chart that are designed to make you panic sell your coins!

scottykarate

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Quote from: 1Referee on December 22, 2017, 04:57:03 PM

I will always take an ETF over futures, and this is insanely bullish, which should make people buy as many coins as possible at current levels before it's too late. At this point it's clear that there are several parties, including wall street banks, looking to get involved in this market, and this will help steer Bitcoin to even higher levels. Where CME is lagging behind, CBOE is taking the main initiative to be the front leader when it comes to Bitcoin tied products for professional parties. We have extremely bullish times ahead of us with Nasdaq, NYSE, Goldman Sachs, LN, etc, to give us another massive boost. Let all traditional experts call Bitcoin a bubble that will soon burst, we know better, and current levels are the perfect bit of proof to show these government shills that this isn't the next tulip bulb bubble.

It should definitely being new people into the market since they can avoid having to set up a wallet and an account on these exchanges that are making killer profits off of their fees.
Not that there won't be fees for the people entering the market, but I'll imagine they're not as insane as what is currently happening on the existing exchanges.
Hopefully, the current exchanges will have to quit bending people over soon.

It seems like it will make it much easier for the average person to have actual exposure to BTC.

1Referee

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I will always take an ETF over futures, and this is insanely bullish, which should make people buy as many coins as possible at current levels before it's too late. At this point it's clear that there are several parties, including wall street banks, looking to get involved in this market, and this will help steer Bitcoin to even higher levels. Where CME is lagging behind, CBOE is taking the main initiative to be the front leader when it comes to Bitcoin tied products for professional parties. We have extremely bullish times ahead of us with Nasdaq, NYSE, Goldman Sachs, LN, etc, to give us another massive boost. Let all traditional experts call Bitcoin a bubble that will soon burst, we know better, and current levels are the perfect bit of proof to show these government shills that this isn't the next tulip bulb bubble.

stompix

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Blackjack.fun

Is this a joke or what? Did they think it's April 1st instead of Christmas?

Quote

Here are the six funds:
First Trust Bitcoin Strategy ETF
First Trust Inverse Bitcoin Strategy ETF
REX Bitcoin Strategy ETF
REX Short Bitcoin Strategy ETF
GraniteShares Bitcoin ETF
GraniteShares Short Bitcoin ETF
The exchange-traded funds would allow traders to bet on how the volatile cryptocurrency futures contracts will perform. Cboe filed to list all six funds with the SEC within the past week.

So out of the 6, we are going to have two "short" and one "inverse" ?

Well , as the settlements are made in fiat and not in bitcoin they can try and short their pants off but still... who choose those names???
And what's the point of having pairs? This ain't the war of the roses

Yakamoto

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Quote from: scottykarate on December 22, 2017, 03:54:13 PM

Overall, this is likely more positive news for BTC. There will, however, be more ways to short it.

https://www.cnbc.com/2017/12/22/cboe-files-to-list-6-bitcoin-etfs.html

I mean, it's a great way to start making more money when you've already invested in the technology for it. They have the bots and programs they need to run futures, why not repurpose it for ETFs and get even more off of the money that way? It's not like there's anything that should be stopping them from doing so, and if the futures are going down then they might as well diversify what they can to compensate for the lost fees that they would've been getting from everyone trading on their platforms. Bitcoin is far from dead, it's experiencing a correction and it makes sense for it to do that. There will be a lot more money to be made in time, getting some ETFs to run alongside their futures trading won't be a bad investment at all.

scottykarate

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Quote from: squatz1 on December 22, 2017, 04:15:52 PM

This just shows that the people on wall street are finally getting more and more involved in Bitcoin, but they're getting into it for the money and the money only. Which i guess is something sad to think about, as we're straying from the currency of Bitcoin to the commodity of Bitcoin.

This is expected to happen though, as the floodgates have FINALLY opened up on people starting to buy into Bitcoin -- it may even get a couple more people involved in the adoption of Bitcoin.

All we need now is for fees to come crashing down.

Hopefully LN will finalize soon and do what they hope it will. It should at least be a good start.

squatz1

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Flying Hellfish is a Commie

This just shows that the people on wall street are finally getting more and more involved in Bitcoin, but they're getting into it for the money and the money only. Which i guess is something sad to think about, as we're straying from the currency of Bitcoin to the commodity of Bitcoin.

This is expected to happen though, as the floodgates have FINALLY opened up on people starting to buy into Bitcoin -- it may even get a couple more people involved in the adoption of Bitcoin.

All we need now is for fees to come crashing down.

scottykarate

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Quote from: godzillarekt007 on December 22, 2017, 04:05:11 PM

Who cares if there are more ways to short it, do you know what an ETF is going to do for bitcoin? I know it won't be directly related but that has to be some of the most bullish news one can expect next year for BTC and I would be thrilled if this came out sometime next year.

Totally agree with you. The short position would still be suicide since Bitcoin never stay down for long!

godzillarekt007

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Floki Robot

Who cares if there are more ways to short it, do you know what an ETF is going to do for bitcoin? I know it won't be directly related but that has to be some of the most bullish news one can expect next year for BTC and I would be thrilled if this came out sometime next year.

scottykarate

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Activity: 70

Merit: 10

Overall, this is likely more positive news for BTC. There will, however, be more ways to short it.

https://www.cnbc.com/2017/12/22/cboe-files-to-list-6-bitcoin-etfs.html

Topic: CBOE files for 6 ETFs amid the chaos (Read 188 times)