- I think that out of those 12 applications, they will actually have something approved there, as expected by most of the community investors here in the crypto space. But of course, this remains speculation until we see something they can actually approve.
We still don't know what will really happen in the coming half of next year. And even if they get approved for these applications, they will not be implemented immediately; it will take months before they actually start.
Topic: Chances of Bitcoin ETF approval gone up - page 2. (Read 262 times)
NEW: Cathie Wood says “something has changed” in SEC’s attitude to a spot #Bitcoin ETF.
The chances of approval have “gone up”!
The chances of approval have “gone up”!
Cathie Wood is the CEO of ARK Invest one of the applicants for the ETF. As a businesswoman, she is expectant that the SEC's decision will be favourable. However, her views are irrelevant because she is not part of the decision-making process and would have no effect on the SEC's position. Nevertheless, I don't underrate the position of these powerful business executives because they might have insiders who furnish them with relevant information.
A different attitude of SEC doesn’t increase the chance of approval although ETF approval is already high chance to be approved since SEC is already out of reason to reject all of them since most of the ETF is already complied to their standards due to the long time of denial from them.
The District of Columbia Court of Appeal ruling that the SEC was wrong to reject Grayscale's proposed bitcoin ETF gave us the indication that the regulatory body might have exhausted all the excuses for denying the approval. However, Gary Gensler and his co-conspirators are evil geniuses who can come up with more reasons to delay the approval.
Have you ever imagined the future of Bitcoin if the Spot ETF is ever approved? Bitcoin has been doing good without a Spot ETF but with it, I believe it would do even better, coupled with the Bitcoin halving, Bitcoin would exceed it's ATH before we know it, so I strongly believe a Bitcoin Spot ETF approval would be an amazing stepping stone to achieving greater things in the Bitcoin world in the smallest unit of time.
What a bitcoin ETF means is that these big funds like Blackrock will actually keep BTC as an underlying backing while allowing investors to buy fractional shares of the instrument. Considering that they have applied for ETF, they must have seen demand from potential investors and would already haev bought as well as put in place the necessary operational methods to give them to consumers.
Now whether the ETF turns into actual buying of the same from investors is not something i anticipate to be a lot of pent up demand. I mean whoever that actually understands and wants to invest has done it through CEXs by now. Is there a lot of pent up demand waiting to unlock? Depends on how these funds market it to their customers. One thing for sure is that the ETF itself adds little value except bring in some liquidity and bring a few more people into the fold.
Purely on the basis of a value addition, simple listing of the commodity cannot ensure that it will see a huge price movement as many are hoping, nay, praying for.
Well, about all 12ETF approvals, the news was just bluff! How it can be so easy? Anyway, what I think TBH is that most ETFs will get approved on their last deadline around FEB to MAR. There's a slight possibility that maybe SEC will approve an ETF in late JAN.
There's no doubt this rally is exciting due to the ETF approvals, the current market sentiments are indicating a prominent domination of the ETF news, and even some fake news made the market momentum suppress the major resistances and use them as a strong support level. These 12 ETF applications started a chain-reaction not only for Bitcoin but even for some of the Altcoins. Currently according to the recent developments I'm hopeful for a good news soon.
There's no doubt this rally is exciting due to the ETF approvals, the current market sentiments are indicating a prominent domination of the ETF news, and even some fake news made the market momentum suppress the major resistances and use them as a strong support level. These 12 ETF applications started a chain-reaction not only for Bitcoin but even for some of the Altcoins. Currently according to the recent developments I'm hopeful for a good news soon.
This ETF thing seems overblown. It is true that it will be able to boost the price of Bitcoin if it is accepted in the near future, but it does not make the price of Bitcoin reach its ATH or exceed it. In fact, this ETF has no benefit at all to the Bitcoin ecosystem, because it does not represent Bitcoin, it only benefits brokers. Without this ETF, the Bitcoin market will still develop and adopters will continue to increase.
Bitcoin is fine without Bitcoin Spot ETFs as it has been very strong so far, many years since 2009 without any Bitcoin Spot ETF. It made its all time high about $69,000 in 2021 without a Bitcoin Spot ETF and price now is lower than $40,000.
You're absolutely right by saying Bitcoin has been doing so well without any Bitcoin Spot ETF, Bitcoin has attained unimaginable heights without any Bitcoin Spot ETF, but if a Bitcoin Spot ETF was as unnecessary as you claim then applications wouldn't be filing even after previously being rejected and we wouldn't currently have over 12 application filed on SEC's table right now. Have you ever imagined the future of Bitcoin if the Spot ETF is ever approved? Bitcoin has been doing good without a Spot ETF but with it, I believe it would do even better, coupled with the Bitcoin halving, Bitcoin would exceed it's ATH before we know it, so I strongly believe a Bitcoin Spot ETF approval would be an amazing stepping stone to achieving greater things in the Bitcoin world in the smallest unit of time.
A different attitude of SEC doesn’t increase the chance of approval although ETF approval is already high chance to be approved since SEC is already out of reason to reject all of them since most of the ETF is already complied to their standards due to the long time of denial from them.
But a word of a certain person that is one of the person who’s asking for approval is not a solid proof that chance of approval gone up just because she notice changes. SEC opinion itself is the most important part to determine chance rate of approval.
Bitcoin is fine without Bitcoin Spot ETFs as it has been very strong so far, many years since 2009 without any Bitcoin Spot ETF. It made its all time high about $69,000 in 2021 without a Bitcoin Spot ETF and price now is lower than $40,000.But a word of a certain person that is one of the person who’s asking for approval is not a solid proof that chance of approval gone up just because she notice changes. SEC opinion itself is the most important part to determine chance rate of approval.
I feel funny if anyone think Bitcoin Spot ETFs are very important for Bitcoin to break through $40,000 and reclaim $69,000. Next 6 months, we will have a Bitcoin halving and price will surely be higher than $40,000 that is even higher than today price. A halving is enough for Bitcoin to have a higher price, Bitcoin Spot ETF news is only a catalyst to make this market more unpredictable and chaotic for Newbies.
Currently, 12 applications for a spot bitcoin ETF are pending before the SEC, and the markets regulator is expected to issue a ruling as soon as November 17.
But, November 17 is today, right? It'll be real interesting to see what the SEC decides before the next deadline. People in crypto land are definitely on the edge of their seats about this!
However, I agree with Beparanf. Even though some folks seem to think the SEC is maybe warming up to the idea, that don't automatically mean they're gonna say yes to these things. The chances do look higher for approval though since the companies probably learned from past rejections and changed their applications to match what the SEC wants.
A different attitude of SEC doesn’t increase the chance of approval although ETF approval is already high chance to be approved since SEC is already out of reason to reject all of them since most of the ETF is already complied to their standards due to the long time of denial from them.
But a word of a certain person that is one of the person who’s asking for approval is not a solid proof that chance of approval gone up just because she notice changes. SEC opinion itself is the most important part to determine chance rate of approval.
But a word of a certain person that is one of the person who’s asking for approval is not a solid proof that chance of approval gone up just because she notice changes. SEC opinion itself is the most important part to determine chance rate of approval.
Quote
NEW: Cathie Wood says “something has changed” in SEC’s attitude to a spot #Bitcoin ETF.
The chances of approval have “gone up”!
https://twitter.com/BTC_Archive/status/1724753354872525077?t=8RLs8J7kvAeXaJ2x88lD1w&s=19
The chances of approval have “gone up”!
https://twitter.com/BTC_Archive/status/1724753354872525077?t=8RLs8J7kvAeXaJ2x88lD1w&s=19
Currently, 12 applications for a spot bitcoin ETF are pending before the SEC, and the markets regulator is expected to issue a ruling as soon as November 17.
And according to Seyffart if the agency wants to allow all 12 filers to launch, this would literally be the first available window since Grayscale's court victory was affirmed.
While the window for accepting all 12 filings ends on Nov. 17, Seyffart also added that the chances of SEC making a decision on nine of the twelve applications would be anytime before Jan. 10.
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