First Spot Bitcoin ETF in Europe Listed on Euronext Amsterdam

Die_empty

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Quote from: Best-mary on August 20, 2023, 06:40:58 PM

Yes, actually black rock gave SEC 240 days to give their final decision. We already know that SEC has no option but to accept BTC ETF if by now they have bring in reason why they prolong the acceptance of ETF

It is not BlackRock or any of the ETF applicants that gave SEC 240 days to consider the applications. The law state that the process of public consultation and review of the application will commence only when the application have been have been published in the Federal Register. After the filings are published in the registry, SEC is mandated by the law to review the application within 45 days but they still have the power to extend it to 240 days maximum to approve or disapprove. Black Rock filled out their application on 7-19-23 and the possible deadline for approval will be 3-16-24.

BlackRock is a powerful, wealthy, and well-connected financial company but there is no certainty that SEC will approve their application. We just have to wait and see the outcome of these applications especially the first application by ARK.

Best-mary

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Quote from: Fivestar4everMVP on August 17, 2023, 02:13:13 AM

This is great news, Bitcoin ETF is no longer a matter of "if" or "if not", but a matter of "when", because it is very imminent that it will all be signed, though i dont have the clear details< but i think Blackrock is still waiting on the SEC to approve its bitcoin ETF, or give a date.
Personally, i believe this all will be signed, though might not happen at a time when people expect, it might come like a thief in the night, at a time when everyone will be shocked and the effect of it on the price of bitcoin will be massive, i believe for now, SEC is still trying to load their bags with much bitcoins as possible before they approve the ETF Grin

.

Anyways, @op, please include a source to your post, i believe you got this news from somewhere?, please share the source, i believe many of us will like to read more about this.

Yes, actually black rock gave SEC 240 days to give their final decision. We already know that SEC has no option but to accept BTC ETF if by now they have bring in reason why they prolong the acceptance of ETF

Die_empty

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Quote from: The Cryptovator on August 20, 2023, 03:35:31 PM

Hey OP, do you have an alternative source besides Coinmarketcap? I'm a bit skeptical about the credibility of this news. Surprisingly, Bitcoin remains unaffected despite the recent SpaceX FUD causing a substantial drop. I'm genuinely curious about the potential benefits of a Bitcoin ETF, especially in terms of allowing people to own actual Bitcoin rather than just contracts. Could it be a means to manage Bitcoin's price? Strangely, I haven't observed any major influence on Bitcoin from ETFs. The price spikes seem to be driven by FOMO more than anything else.

Some other online media houses reported the same news, examples are ;

https://www.google.com/amp/s/decrypt.co/148433/jacob-asset-management-launch-europe-first-bitcoin-etf%3famp=1

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/first-spot-bitcoin-etf-europe-043122981.html

https://cointelegraph.com/news/europe-first-bitcoin-etf-hits-euronext-amsterdam-exchange

Investors expected so much from the approval of spot Bitcoin ETF in the US and this led to the fear of losing out. The demand for Bitcoin rose because investors believe that the approval of these applications will even trigger the bull run. That was why the postponement of the approval immediately affected the price of bitcoin. Approval of these ETFs will attract more investors to the market but it will promote centralization. It will be better for investors to buy bitcoin through conventional channels and not through untrusted middlemen. I know that the US SEC will be closely monitoring the activities and effect of the spot Bitcoin ETF on the European economy.

The Cryptovator

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Hey OP, do you have an alternative source besides Coinmarketcap? I'm a bit skeptical about the credibility of this news. Surprisingly, Bitcoin remains unaffected despite the recent SpaceX FUD causing a substantial drop. I'm genuinely curious about the potential benefits of a Bitcoin ETF, especially in terms of allowing people to own actual Bitcoin rather than just contracts. Could it be a means to manage Bitcoin's price? Strangely, I haven't observed any major influence on Bitcoin from ETFs. The price spikes seem to be driven by FOMO more than anything else.

FanEagle

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Even though this did not make the price go any higher and even it went lower, we can say that we need more of these. All by itself it means nothing but at the same time I feel like we are talking about a situation where we could see it change a bit.

I mean we are talking about something that is way too tiny if we are talking about a singular event, it is not like SEC approved first big American one from blackrock or something neither, which all by itself may not have a big impact neither. We need to make sure that there are tons of these, all around, to make sure that everything is still simple. I think in that case it will go higher, and eventually it will support it stay higher as well, with constantly buying it up.

Ale88

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Quote from: avikz on August 17, 2023, 08:05:28 AM

Also it seems BlackRock is behind this. They are infamous for market manipulation. We need to be aware of this fact. They have started spending money in crypto market.

Of course BlackRock has already started spending money in the crypto market, they are seeking the SEC approval for a bitcoin spot ETF as well, they want to be ready before it gets approved, not after, because there is a good possibility that prices will go up quite a lot. They will already own a lot of bitcoin that their customer will be buying at a higher price, plus the commissions.

kryptqnick

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This ETF is registered in the Channel Islands, which is, of course, outside the EU and sort of outside the UK as well. It is on Euronext Amsterdam, with the current price of $18, but I'm still not convinced how big of news that actually is. I mean, the registration isn't in the EU, there's no info about legislative approval of financial regulators in the EU, and it's just de facto listed on Euronext stock exchange.
In any case, the buzz about the difficulty of an ETF approval was all about the SEC in the US, not about the EU or something that isn't even registered in the EU.
I'm happy they achieved something, but it seems that this achievement might be overestimated.

o48o

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Quote from: OcTradism on August 18, 2023, 11:54:44 PM

-cut-
They are rich and have big capital so they must be more careful than small investors like me or you but if they are careless, it is their responsibility. Hopefully they won't fall into bad ETFs and lose their money.

Non custodial wallets, open source wallets, own your wallet mnemonic seeds, private keys and have your own banks. Soon they will learn that lesson and realize its importance.

If you mean that they would get robbed, i doubt that ETF exchanges will even keep their bitcoins connected to exchange, so they would get sobbed in a same way that stock exchanges get robbed, and they are not getting robbed. I doubt that these exchanges would hold bitcoins at all. Or if they would, he level of regulatory oversight would be so harsh that it would be impractical for a normal person to try to deposit their bitcoins.

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Quote from: ImThour on August 18, 2023, 08:33:50 AM

I never liked ETFs and still don't understand why they can't acquire Bitcoin in the process which was created by satoshi, mine it or buy it from a market? Why do we need ETFs, isn't this just going against the fundamentals of the Bitcoin itself? Like it was meant to be disconnected from the current financial system and somehow people are busy making it part of that financial system. I don't get it.

The world does not work in a way which is favorite by any person even that person is / are Satoshi Nakamoto.

I accept this fact and I have same thinking and feeling like you, that I dislike Bitcoin ETFs from Futures ETFs to Spot ETFs but they have been here and will be more available in future. Let's leave those ETFs to people who want to use such services which will cause more risk for them.

They are rich and have big capital so they must be more careful than small investors like me or you but if they are careless, it is their responsibility. Hopefully they won't fall into bad ETFs and lose their money.

Non custodial wallets, open source wallets, own your wallet mnemonic seeds, private keys and have your own banks. Soon they will learn that lesson and realize its importance.

Sim_card

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If ETF Europe will soon kick start then I believe that this is a good move from our European brothers because this will make the US look into approving ETF bitcoin by SEC easily but the problem is that when will the approval be done as everyone is folding their arms waiting to hear from SEC. SEC approval of ETF will help increase the mass adoption of bitcoin,which has always being everyone dream and it will help the bitcoin community as the price of bitcoin will increase and we can see our dream price of bitcoin not too long. It is left for bitcoiners to be in custody of their investment than putting it in the hands of a third party so that you control your keys yourself.

Hamza2424

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Quote from: Fivestar4everMVP on August 17, 2023, 02:13:13 AM

This is great news, Bitcoin ETF is no longer a matter of "if" or "if not", but a matter of "when", because it is very imminent that it will all be signed, though i dont have the clear details< but i think Blackrock is still waiting on the SEC to approve its bitcoin ETF, or give a date.
Personally, i believe this all will be signed, though might not happen at a time when people expect, it might come like a thief in the night, at a time when everyone will be shocked and the effect of it on the price of bitcoin will be massive, i believe for now, SEC is still trying to load their bags with much bitcoins as possible before they approve the ETF Grin

.

Anyways, @op, please include a source in your post, I believe you got this news from somewhere?, please share the source, I believe many of us will like to read more about this.

Haha, really now it's not a matter of if, if not it really looks like a matter of
Blackrock = Now >> What u think SEC = Hmm U mean before Halving or After, Before the end of the year, or after the Q1 of 2024..

Bitcoiners >> Hipocracy..
BlackRock >> Shit..
ETF >> Let me Go ..
SEC >> Not Now please wait ..

Haha, that's how things are going on, for a couple of months.

A few rumors are indicating that the ETF approvals are delayed till March 2024, seems like they going to put this case on a longer timeframe. there might be a need for another excitement in the market, and I'm expecting that excitement in September.

coolcoinz

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Quote from: ImThour on August 18, 2023, 08:33:50 AM

I never liked ETFs and still don't understand why they can't acquire Bitcoin in the process which was created by satoshi, mine it or buy it from a market? Why do we need ETFs, isn't this just going against the fundamentals of the Bitcoin itself? Like it was meant to be disconnected from the current financial system and somehow people are busy making it part of that financial system. I don't get it.

I also don't like them, but maybe I can answer your question.
People who invest in bitcoin ETF are people who usually don't do anything themselves. In case of individuals, those are people who don't manage their own wealth, but have managers to do it for them. Have you seen the movie about Madoff? He'd call people and get them to wire money to his fund just like that.
-Hey man, there's an opportunity to make big money, but I need 10 million
-Sure, I'll send it to you later. What's the profit? 15%? Not bad.

These fund managers don't want to hold bitcoin for their clients and they know exchanges don't offer insurance, so they need a big fund to tell them it's safe to buy. If someone trusted were to offer trading and custodial services with insurance that the coins are going to be there a year later, they'd buy.
Another typical client of these ETFs are companies, where the board cannot simply say that the CEO will now hold 5% of the company's funds on his personal laptop. What if he dies? Who's going to have passwords? So the obvious route is to have a trusted third party to hold it for them. At least if things go wrong they'll have someone to blame and sue for the loss.

Z-tight

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Quote from: ImThour on August 18, 2023, 08:33:50 AM

I never liked ETFs and still don't understand why they can't acquire Bitcoin in the process which was created by satoshi, mine it or buy it from a market?

I don't like etf's either, i have never had a problem buying BTC p2p and i also want to have my keys and control my BTC myself.

Quote from: ImThour on August 18, 2023, 08:33:50 AM

Why do we need ETFs, isn't this just going against the fundamentals of the Bitcoin itself? Like it was meant to be disconnected from the current financial system and somehow people are busy making it part of that financial system. I don't get it.

But specific people, mostly institutional investors, want to buy BTC but they don't want to own their keys, it is a risk they are taking, but maybe they feel comfortable doing it that way. One of the fundamentals of BTC is also freedom and censorship resistance, if these companies want to buy BTC and give people who want to buy from them shares instead of coins, then they can go ahead, their coins; their choice. It is almost similar to buying BTC and storing it in exchanges which a lot of people do, all of these are individual choices and errors and i don't think it makes BTC in itself any part of the current financial system.

ImThour

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I never liked ETFs and still don't understand why they can't acquire Bitcoin in the process which was created by satoshi, mine it or buy it from a market? Why do we need ETFs, isn't this just going against the fundamentals of the Bitcoin itself? Like it was meant to be disconnected from the current financial system and somehow people are busy making it part of that financial system. I don't get it.

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Quote from: Uruhara on August 18, 2023, 05:22:05 AM

I hope there will be more in Europe there.

The first is a hardest and the next ones will come more easily until a time something is wrong with one of Bitcoin Spot ETF like fraudulent, shady management and create some shocks like FTX exchange or Terra, then governments will tighten their regulations.

Quote

But for America it looks like the SEC will delay the approval of spot Bitcoin ETFs there for an unspecified time. But the news circulating is that spot Bitcoin ETFs will indeed be approved, it's just that it hasn't been determined when that time will happen.

SEC and Gensler have been watching more closely in the USA. They have been facing with more Congressional hearings, pressures from other senators and agencies and I believe that they will not be able to easily reject or approve any Bitcoin Spot ETF too arbitrarily without clear explanation.

Quote

But the good thing is that more institutions are looking at Bitcoin. I think the next bull market will be driven by more institutions getting involved in bitcoin investing. Gradually Bitcoin began to show its dominance in the digital financial world and in the global investment world.

When a first Bitcoin Spot ETF in the USA will be approved? In 2024 or 2025 sounds like very good possibility as it is a very big news which should appear in a big bull run. We knows if history repeats, Bitcoin will have its big bull run after 2024 halving.

Uruhara

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Quote from: sesterceshop on August 17, 2023, 01:59:15 AM

The ETF known as Jacobi FT Wilshere Bitcoin ETF, overseen by the Guernsey Financial Services Commission (GFSC), will be active with the trading symbol "BCOIN." Fidelity Digital Assets is responsible for safeguarding the fund's assets, and Jacobi has verified that Flow Traders, a trading company, will serve as the market maker.

LFG Europe. One small step for finance, one giant leap for mainstream adoption! Looking forward to the next and many crypto-related financial products to come.

I hope there will be more in Europe there. But for America it looks like the SEC will delay the approval of spot Bitcoin ETFs there for an unspecified time. But the news circulating is that spot Bitcoin ETFs will indeed be approved, it's just that it hasn't been determined when that time will happen. But the good thing is that more institutions are looking at Bitcoin. I think the next bull market will be driven by more institutions getting involved in bitcoin investing. Gradually Bitcoin began to show its dominance in the digital financial world and in the global investment world.

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This can be good news for the whole crypto industry though we still have to feel any positive effect coming from this Europe-based approved Bitcoin ETF, if there will be. Now, am sure this can be a good sign that eventually an ETF can be approved based in USA which can open up a floodgate of investments for Bitcoin - though indirect it would be. As to the concern that this ETF thing is just a tool of manipulation of financial institutions in accordance to their motive of profits, we have no choice but to just watch history unfolds right before our own very eyes.

avikz

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I have tried to find out if it's a physically settled ETF or not but couldn't find much information. Can anyone share more information about it?

Also it seems BlackRock is behind this. They are infamous for market manipulation. We need to be aware of this fact. They have started spending money in crypto market.

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Quote from: Fivestar4everMVP on August 17, 2023, 02:13:13 AM

Anyways, @op, please include a source to your post, i believe you got this news from somewhere?, please share the source, i believe many of us will like to read more about this.

Yes, for sure - https://coinmarketcap.com/alexandria/article/first-spot-bitcoin-etf-in-europe-listed-on-euronext-amsterdam

Awesome news indeed!

Fivestar4everMVP

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This is great news, Bitcoin ETF is no longer a matter of "if" or "if not", but a matter of "when", because it is very imminent that it will all be signed, though i dont have the clear details< but i think Blackrock is still waiting on the SEC to approve its bitcoin ETF, or give a date.
Personally, i believe this all will be signed, though might not happen at a time when people expect, it might come like a thief in the night, at a time when everyone will be shocked and the effect of it on the price of bitcoin will be massive, i believe for now, SEC is still trying to load their bags with much bitcoins as possible before they approve the ETF Grin

.

Anyways, @op, please include a source to your post, i believe you got this news from somewhere?, please share the source, i believe many of us will like to read more about this.

Topic: First Spot Bitcoin ETF in Europe Listed on Euronext Amsterdam (Read 234 times)