News update. Spot ETF for Bitcoin and Ethereum approved hehehehe.
It appears what has been speculated and predicted by some people in this forum has become true again heheheh. The next prediction will be Shanghai to open their jurisdiction and welcome the cryptospace by first introducing Hong Kong's Bitcoin and Ethereum spot ETF in their market. I speculate that the bullishness of this news will be witnessed within 3 months after the halving.
Nine questions and answers about the Hong Kong Bitcoin and Ethereum Spot ETF
Source https://wublock.substack.com/p/nine-questions-and-answers-about
Topic: Hong Kong regulators might allow spot ETF (Read 319 times)
either US SEC or Hong Kong, investors will anticipate the price to shoot to the moon when ETF is approved. it's just a matter of when it will be because they seem to be making us all wait til the hype is gone and we lost patience.
Yes. Bitcoin ETFs are next and the SEC is always in the game. So, the discussion is whether the SEC should give the green light? because we know Bitcoin represents more than half of the total cryptocurrency market capitalization
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
as far that I knowUsa has its version of ETF but I is in form of futures contract the SEC is still refuse the spot bitcoin etf https://www.cnbc.com/2023/11/13/spot-bitcoin-etf-approval-is-approaching-experts-say-what-to-know.html
the other country usually follow the us but if hongkrong approved the US might lose the game
Every country is going to have to offer their people a Bitcoin spot ETF in the future. Not doing so would be hurting themselves financially and their future prospects. Even though Vanguard claims they never will, I’m sure they too will not be able to resist the fees and cries of their customers to bring a Bitcoin spot ETF product to market.
I am sure that is going to happen but the companies that should be asking people to get into this would definitely not try to sell it to the people, just like they have been doing for a long time now with their other investment ventures or schemes, they won't advertise it. I have learned too late that you can earn while your money is in your bank account by subscribing to a investment where you and other people that uses the bank gives the money to some sort of investment manager and you all collectively own a stock but you don't manage but you all get a percentage when it goes up and you get losses too.
. They are the real business man so they know what works better for them even though we think it's a weird move and we think they can earn better if they allow us to invest on them as early as possible.Yes, it is possible to earn money by keeping money in the bank, other than what you have said there but for us to be sure we better inquire it to them because I think not all banks has this feature. The one you are talking there might be sound interesting to some but for me, not really. For someone like me who grow up with crypto, I follow the principles of not my keys not my coins.
All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!
largest asset management company in the world!
And most people expect the SEC to agree and on the other hand also compare the performance of the financial industry in the past and the results BTC shows that this will be the safest and smartest investment in the future and the way is to buy bitcoin itself. Bitcoin is basically a form of currency like USD and EUR, only it doesn't have a physical form and is instead stored online on a computer. BTW, we'll see in January 2024 whether it will be accepted or there will be another delay by the SEC like before.
There are many differences between bitcoin and EUR and USD. Besides the tangible and intangible differences, bitcoin is a decentralized currency, with a limited supply...it is completely different from the fiat money that governments are creating. Furthermore, bitcoin is considered an asset rather than a currency so I think it is more appropriate to compare it with gold or other financial markets than with USD and EUR.
Basically, there are already many bitcoin ETFs in other countries but people are still waiting for an ETF from the SEC because the US is the largest financial market as well as the world financial center. I believe the SEC will have to approve ETFs but they need a better time to make that declaration and the best time could be the Bitcoin halving event.
Well this move by the Hong Kong regulators for a spot ETF might just prompt an earlier
than expected approval of the queue of spot ETF's by the SEC?
Hong Kong is still Asia's largest financial centre to maybe the SEC might feel that HK
poses a threat and potentially a lot of investors would migrate to a HK based spot
Bitcoin ETF, is that a viable argument I wonder?
I believe that no market or financial authority is large enough to put pressure on the SEC and the US financial markets. As far as I know, the US financial market accounts for more than 45% of the entire world financial market, do you think they will need and care about what the Asian and European markets are doing? Most of the world's largest exchanges and financial institutions are concentrated in the US, do you think large institutions will leave the US market and move to HK? Large institutions like Blackrock, Grayscale and many others, why don't they choose other markets, but why are they willing to wait for SEC approval even when the SEC has repeatedly rejected their ETF proposals?
Because is Blackrock that is filing the ETF. Blackrock is bigger than SEC, it literally controls the money of the entire US market. As you can see more and more politicians grilling SEC Gensler for not approving ETF to which Gensler already changed his tune.
Eventually ETFs will be approved, it may not be this Friday but maybe next year. If SEC doesn't approved then it equates to pissing institutions and it doesn't need SEC to move to other country where they don't have jurisdiction.
All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!
largest asset management company in the world!
And most people expect the SEC to agree and on the other hand also compare the performance of the financial industry in the past and the results BTC shows that this will be the safest and smartest investment in the future and the way is to buy bitcoin itself. Bitcoin is basically a form of currency like USD and EUR, only it doesn't have a physical form and is instead stored online on a computer. BTW, we'll see in January 2024 whether it will be accepted or there will be another delay by the SEC like before.
There are many differences between bitcoin and EUR and USD. Besides the tangible and intangible differences, bitcoin is a decentralized currency, with a limited supply...it is completely different from the fiat money that governments are creating. Furthermore, bitcoin is considered an asset rather than a currency so I think it is more appropriate to compare it with gold or other financial markets than with USD and EUR.
Basically, there are already many bitcoin ETFs in other countries but people are still waiting for an ETF from the SEC because the US is the largest financial market as well as the world financial center. I believe the SEC will have to approve ETFs but they need a better time to make that declaration and the best time could be the Bitcoin halving event.
Well this move by the Hong Kong regulators for a spot ETF might just prompt an earlier
than expected approval of the queue of spot ETF's by the SEC?
Hong Kong is still Asia's largest financial centre to maybe the SEC might feel that HK
poses a threat and potentially a lot of investors would migrate to a HK based spot
Bitcoin ETF, is that a viable argument I wonder?
I believe that no market or financial authority is large enough to put pressure on the SEC and the US financial markets. As far as I know, the US financial market accounts for more than 45% of the entire world financial market, do you think they will need and care about what the Asian and European markets are doing? Most of the world's largest exchanges and financial institutions are concentrated in the US, do you think large institutions will leave the US market and move to HK? Large institutions like Blackrock, Grayscale and many others, why don't they choose other markets, but why are they willing to wait for SEC approval even when the SEC has repeatedly rejected their ETF proposals?
There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
In many countries? How many and what are these countries? I am quite certain that there are not many countries offering spot ETFs for bitcoin or other cryptocoins. Also, if it is a spot ETF in a developing country with a small market, we can also be quite certain that it will not have effect on the whole market.
On Bed Bath and Beyond, you cannot compare hehehe. I do not know the story but the stock goes to 0 because the company behind the stock went bankrupt and if a company goes bankrupt, they are ordered to delist their stock from the stock market.
In an case, back on topic, can the data on the take up on futures ETF be used as precedent for how much the take might be for the spot ETF?
More than 1 is many. And I think Bitcoin spot ETFs are already offered in certain countries like USA's neighbor Canada, and in Switzerland and Germany in Europe, in Brazil in South America, and in Australia as well, and other countries in the whole world. And these are developed countries as well.
Futures ETF cannot be used as a precedent because it doesn't offer 100% exposure to Bitcoin. Spot ETFs are backed by Bitcoin itself. That's the kind of exposure offered by a Bitcoin spot ETF. And also futures are expensive to maintain compared to spot ETF.
The numbers in countries where both Bitcoin futures and spot ETFs are available are proof that spot ETF is much more in demand than futures.
I very much disagree, I am sorry. More than 1 and less than 7 is a few, 7 or 8 is several, more than 10 is what I would consider many. However, I was only asking. If there are really more than 10 countries that have issued an ETF then there many and it might make for the argument that the take up might be low.
In any case, @Lucius made a good argument that the take up was low because none of those that issued the ETF were from Blackrock hehehehe.
there was one in Europe announced last year and listed in August gone without
any big fanfare or craze, it was the Jacobi FT Wilshire Bitcoin ETF from this report.
https://gfmag.com/technology/europe-makes-first-spot-bitcoin-etf-available-to-trade/#:~:text=The%20Euronext%20Amsterdam%20stock%20exchange,ETF)%20in%20mid-August.
I suspect the Spot Bitcoin ETF in Hong Kong will end up being something similar,
it will end up going relatively unnoticed.
All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!
I mean it's more about the fact that there won't be all that much money invested into it. All those "oh my god blackrock EFT might get accepted!!!" news are not happy because they will get an ETF, they don't even care, most of them are buying bitcoin themselves anyway, they do not need ETF at all. So why are they getting excited about that one, but not about this one? Simply because the amount of money that could go into it.any big fanfare or craze, it was the Jacobi FT Wilshire Bitcoin ETF from this report.
https://gfmag.com/technology/europe-makes-first-spot-bitcoin-etf-available-to-trade/#:~:text=The%20Euronext%20Amsterdam%20stock%20exchange,ETF)%20in%20mid-August.
I suspect the Spot Bitcoin ETF in Hong Kong will end up being something similar,
it will end up going relatively unnoticed.
All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!
If this Hong Kong ETF deal gets accepted, do you think billions of dollars will fly into crypto? Of course not, but if Blackrock one gets accepted, that might happen. That is the difference maker and that is why people do get excited about it, which makes sense if you ask me. I think that's an important distinction, and that is why it is not the ETF they are excited about, it is the money that will go into bitcoin that they are super excited about. That should be the most important part, how much money it will help us get.
-snip-
It seems to me that in this case China is just trying to do exactly the same as the US to share the market. If we talk about every country making a spot bitcoin etf in the future, where will so many bitcoins come from? This may indicate that the price of bitcoin will be really big and satoshis will be traded, or people's interest in bitcoin will be low.
@bittraffic. The argument is it is overhyped because the pump has occured before there was an approval and this might be something similar to a sell the news occurrence if it is approved.
However, agreed. Bitcoin will skyrocket later after approval when ETF issuers begin twapping hehehe.
Also, it appears Ethereum might also get a spot ETF.
BlackRock, one of the world’s biggest asset managers, officially filed its Spot Ethereum ETF with Nasdaq today. The company’s plan was revealed in a filing by the U.S. exchange where BlackRock will seek to list the product.
Source https://watcher.guru/news/blackrock-officially-files-spot-ethereum-etf-application
However, agreed. Bitcoin will skyrocket later after approval when ETF issuers begin twapping hehehe.
Also, it appears Ethereum might also get a spot ETF.
BlackRock, one of the world’s biggest asset managers, officially filed its Spot Ethereum ETF with Nasdaq today. The company’s plan was revealed in a filing by the U.S. exchange where BlackRock will seek to list the product.
Source https://watcher.guru/news/blackrock-officially-files-spot-ethereum-etf-application
Unlike Bitcoin, Ethereum and its subsequent tokens have been considered many times to be unregistered securities in the past, by the SEC. So while I am quite enthusiastic about Bitcoin getting an ETF, I am not quite as sure about Ethereum. As far as I remember, Bitcoin has never been accused by the SEC of being an unregistered security. I think we need to see first, whether or not Bitcoin will get its own ETF in the United States soon. There still very much is the chance that the filing will be blockaded by pure bureaucracy or other ridiculous reasons. But it is coming, sooner or later, thats for sure.
Every country is going to have to offer their people a Bitcoin spot ETF in the future. Not doing so would be hurting themselves financially and their future prospects. Even though Vanguard claims they never will, I’m sure they too will not be able to resist the fees and cries of their customers to bring a Bitcoin spot ETF product to market.
I am sure that is going to happen but the companies that should be asking people to get into this would definitely not try to sell it to the people, just like they have been doing for a long time now with their other investment ventures or schemes, they won't advertise it. I have learned too late that you can earn while your money is in your bank account by subscribing to a investment where you and other people that uses the bank gives the money to some sort of investment manager and you all collectively own a stock but you don't manage but you all get a percentage when it goes up and you get losses too. 
However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest. I assume the take up on futures ETF in America has also only been modest?
That's unexpected, could this mean these spot ETFs are just overhyped and don't carry much of an impact on the markets in terms of BTC demand???Hong Kong is neither a major power nor a large enough financial market to impact world markets, but the US is completely different so the ETFs of these two countries will have different impacts on bitcoin. If you have doubts about whether ETFs really have a positive impact on bitcoin prices, you can also experience for yourself what has happened in the past days. Isn't the market very excited and happy about the news that the SEC is ready to approve ETFs? That suggests the impact of ETFs could be much larger than we thought.
Hong Kong getting on board is good news that can service the Asian market and a win for Bitcoin whichever way we choose to look at this, but just as the financial markets seniority... what will carry the most weight is having the USA markets that can bring in the big money and also easily influence other countries to do the same, otherwise having HK on board is a win for BTC.
However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest. I assume the take up on futures ETF in America has also only been modest?
That's unexpected, could this mean these spot ETFs are just overhyped and don't carry much of an impact on the markets in terms of BTC demand??? 
All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!
largest asset management company in the world!
And most people expect the SEC to agree and on the other hand also compare the performance of the financial industry in the past and the results BTC shows that this will be the safest and smartest investment in the future and the way is to buy bitcoin itself. Bitcoin is basically a form of currency like USD and EUR, only it doesn't have a physical form and is instead stored online on a computer. BTW, we'll see in January 2024 whether it will be accepted or there will be another delay by the SEC like before.
There are many differences between bitcoin and EUR and USD. Besides the tangible and intangible differences, bitcoin is a decentralized currency, with a limited supply...it is completely different from the fiat money that governments are creating. Furthermore, bitcoin is considered an asset rather than a currency so I think it is more appropriate to compare it with gold or other financial markets than with USD and EUR.
Basically, there are already many bitcoin ETFs in other countries but people are still waiting for an ETF from the SEC because the US is the largest financial market as well as the world financial center. I believe the SEC will have to approve ETFs but they need a better time to make that declaration and the best time could be the Bitcoin halving event.
Well this move by the Hong Kong regulators for a spot ETF might just prompt an earlier
than expected approval of the queue of spot ETF's by the SEC?
Hong Kong is still Asia's largest financial centre to maybe the SEC might feel that HK
poses a threat and potentially a lot of investors would migrate to a HK based spot
Bitcoin ETF, is that a viable argument I wonder?
All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!
largest asset management company in the world!
And most people expect the SEC to agree and on the other hand also compare the performance of the financial industry in the past and the results BTC shows that this will be the safest and smartest investment in the future and the way is to buy bitcoin itself. Bitcoin is basically a form of currency like USD and EUR, only it doesn't have a physical form and is instead stored online on a computer. BTW, we'll see in January 2024 whether it will be accepted or there will be another delay by the SEC like before.
There are many differences between bitcoin and EUR and USD. Besides the tangible and intangible differences, bitcoin is a decentralized currency, with a limited supply...it is completely different from the fiat money that governments are creating. Furthermore, bitcoin is considered an asset rather than a currency so I think it is more appropriate to compare it with gold or other financial markets than with USD and EUR.
Basically, there are already many bitcoin ETFs in other countries but people are still waiting for an ETF from the SEC because the US is the largest financial market as well as the world financial center. I believe the SEC will have to approve ETFs but they need a better time to make that declaration and the best time could be the Bitcoin halving event.
All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!
largest asset management company in the world!
And most people expect the SEC to agree and on the other hand also compare the performance of the financial industry in the past and the results BTC shows that this will be the safest and smartest investment in the future and the way is to buy bitcoin itself. Bitcoin is basically a form of currency like USD and EUR, only it doesn't have a physical form and is instead stored online on a computer. BTW, we'll see in January 2024 whether it will be accepted or there will be another delay by the SEC like before.
There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
In many countries? How many and what are these countries? I am quite certain that there are not many countries offering spot ETFs for bitcoin or other cryptocoins. Also, if it is a spot ETF in a developing country with a small market, we can also be quite certain that it will not have effect on the whole market.
On Bed Bath and Beyond, you cannot compare hehehe. I do not know the story but the stock goes to 0 because the company behind the stock went bankrupt and if a company goes bankrupt, they are ordered to delist their stock from the stock market.
In an case, back on topic, can the data on the take up on futures ETF be used as precedent for how much the take might be for the spot ETF?
More than 1 is many. And I think Bitcoin spot ETFs are already offered in certain countries like USA's neighbor Canada, and in Switzerland and Germany in Europe, in Brazil in South America, and in Australia as well, and other countries in the whole world. And these are developed countries as well.
Futures ETF cannot be used as a precedent because it doesn't offer 100% exposure to Bitcoin. Spot ETFs are backed by Bitcoin itself. That's the kind of exposure offered by a Bitcoin spot ETF. And also futures are expensive to maintain compared to spot ETF.
The numbers in countries where both Bitcoin futures and spot ETFs are available are proof that spot ETF is much more in demand than futures.
Seems ironic to talk about Hong Kong when its been taken over by China who had previously banned Bitcoin. To look towards this now with some optimism is quite comedy. China didnt keep its promises and agreements over Hong Kong remaining separate with independence in jurisdiction from their communist regime, unfortunate as this promotes decay in HK as the finance asset and trading hub it had become. It was worth leaving alone just for that revenue benefit but communism couldn't suffer the comparison and HK was assimilated. I got little faith in action occurring in Hong Kong now for the long term.
You are talking about politics which is quite a different apparatus from business. Similar the America, Hong Kong also has hedgefunds, institutional investors and other types of firms that might want to invest billions in the cryptospace through an investment instrument like an ETF.
Also, is Hong Kong, being one of the biggest investment capitals in the world, really falling because of the repression from Beijing? I reckon this might only be a storyline created by the Americans because Hong Kong and China's economy are presently not very good similar to much of the economies of other countries. It would be a different storyline if their economies are pumping.
-snip-
It seems to me that in this case China is just trying to do exactly the same as the US to share the market. If we talk about every country making a spot bitcoin etf in the future, where will so many bitcoins come from? This may indicate that the price of bitcoin will be really big and satoshis will be traded, or people's interest in bitcoin will be low.Every country is going to have to offer their people a Bitcoin spot ETF in the future. Not doing so would be hurting themselves financially and their future prospects. Even though Vanguard claims they never will, I’m sure they too will not be able to resist the fees and cries of their customers to bring a Bitcoin spot ETF product to market.
It seems to me that in this case China is just trying to do exactly the same as the US to share the market. If we talk about every country making a spot bitcoin etf in the future, where will so many bitcoins come from? This may indicate that the price of bitcoin will be really big and satoshis will be traded, or people's interest in bitcoin will be low. However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest.
In other countries, do not expect bitcoin to be bullish if their SEC approve spot bitcoin ETF, but in United States, expect the market to be bullish as we expect becuase it will first start from people fomo and also US have more than half of the worlds share of traditional market.There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
The first was in two years ago but listed this year. So the first bitcoin spot ETF in Europe was this year.Also this is about bitcoin spot ETF in Hong Kong.
Yes there was one in Europe announced last year and listed in August gone without
any big fanfare or craze, it was the Jacobi FT Wilshire Bitcoin ETF from this report.
https://gfmag.com/technology/europe-makes-first-spot-bitcoin-etf-available-to-trade/#:~:text=The%20Euronext%20Amsterdam%20stock%20exchange,ETF)%20in%20mid-August.
I suspect the Spot Bitcoin ETF in Hong Kong will end up being something similar,
it will end up going relatively unnoticed.
All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!
Seems ironic to talk about Hong Kong when its been taken over by China who had previously banned Bitcoin. To look towards this now with some optimism is quite comedy. China didnt keep its promises and agreements over Hong Kong remaining separate with independence in jurisdiction from their communist regime, unfortunate as this promotes decay in HK as the finance asset and trading hub it had become. It was worth leaving alone just for that revenue benefit but communism couldn't suffer the comparison and HK was assimilated. I got little faith in action occurring in Hong Kong now for the long term.
China is seeing the US about to approve ETF, so they are also establishing their own. the two superpowers are competing in different areas. but regardless of communism, HK is still going to be the business hub in Asia. people are free in that region from the mainland, but Hong Kong is no different from any other state or country the businesses are still controlled by the government through the laws.
either US SEC or Hong Kong, investors will anticipate the price to shoot to the moon when ETF is approved. it's just a matter of when it will be because they seem to be making us all wait til the hype is gone and we lost patience.
Seems ironic to talk about Hong Kong when its been taken over by China who had previously banned Bitcoin. To look towards this now with some optimism is quite comedy. China didnt keep its promises and agreements over Hong Kong remaining separate with independence in jurisdiction from their communist regime, unfortunate as this promotes decay in HK as the finance asset and trading hub it had become. It was worth leaving alone just for that revenue benefit but communism couldn't suffer the comparison and HK was assimilated. I got little faith in action occurring in Hong Kong now for the long term.
~snip~
However, we should definitely see these nations to have potential too, Hong Kong making any ETF accepted means that they are going to be one step ahead, and if there is anything USA hates more than a nation with oil that is not attacked by them, then that is not being the first at something, that's an important thing and would make USA to be a lot faster and should be noted down. I think it is going to be an important deal for all of us, and they will certainly make it quicker if they accept, if they see this.
However, we should definitely see these nations to have potential too, Hong Kong making any ETF accepted means that they are going to be one step ahead, and if there is anything USA hates more than a nation with oil that is not attacked by them, then that is not being the first at something, that's an important thing and would make USA to be a lot faster and should be noted down. I think it is going to be an important deal for all of us, and they will certainly make it quicker if they accept, if they see this.
HK is only one city and officially that area has a name "Special Administrative Region of the People's Republic of China", and I don't see why a spot BTC ETF in that city would upset someone in the US, especially if there are already about twenty spot BTC ETFs around the world (see @Poker Player post), and one of the biggest is in Canada.
No matter how you look at it, the US is definitely not even close to being the first in this, but that does not mean that maybe they did not make the right moves when they decided to wait and draw some conclusions from the experiences of other countries. If such an ETF is finally approved in the next few months (or maybe even days), it could very easily result in the accumulation of much larger funds than all other similar ETFs around the world have.
We keep talking about USA and the potential to have an ETF there, mainly the blackrock one because they do have trillions at their disposal so having ETF by them would mean a lot of money going into bitcoin (possibly).
However, we should definitely see these nations to have potential too, Hong Kong making any ETF accepted means that they are going to be one step ahead, and if there is anything USA hates more than a nation with oil that is not attacked by them, then that is not being the first at something, that's an important thing and would make USA to be a lot faster and should be noted down. I think it is going to be an important deal for all of us, and they will certainly make it quicker if they accept, if they see this.
However, we should definitely see these nations to have potential too, Hong Kong making any ETF accepted means that they are going to be one step ahead, and if there is anything USA hates more than a nation with oil that is not attacked by them, then that is not being the first at something, that's an important thing and would make USA to be a lot faster and should be noted down. I think it is going to be an important deal for all of us, and they will certainly make it quicker if they accept, if they see this.
The only positive thing I see here is the Bitcoin futures ETFs moving to Hong Kong instead of the US, at least we get rid of SEC control.
However, despite this, I do not see that Bitcoin futures ETFs will have a significant impact on the market, given that this impact has already occurred, and I do not expect to see more than that. There is a great exaggeration in optimism, and what I see is that there will be a slight rise as a result of the good news.
The “real effect” occurs when large amounts of Bitcoin are purchased resulting in increased demand, which will not happen here.
However, despite this, I do not see that Bitcoin futures ETFs will have a significant impact on the market, given that this impact has already occurred, and I do not expect to see more than that. There is a great exaggeration in optimism, and what I see is that there will be a slight rise as a result of the good news.
The “real effect” occurs when large amounts of Bitcoin are purchased resulting in increased demand, which will not happen here.
As adaseb said, there are already some spot ETFs in many countries and were approved many years ago but most are small markets so they go unnoticed. meanwhile, the US financial market is the market that accounts for the majority of trading volume worldwide, so there will be a huge difference between SEC ETFs and ETFs of other countries. while the future is unpredictable, but I think that once the SEC approves ETFs, we could see a bull market without the catalyst of the halving.
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The more ETFs that get approved, the better for long term buyers.
After the JPEX scandal it seems getting the ETF in is the better of the evils and an attempt to show that they are supporting crypto but not allowing the shady activity to continue. A lot of ground work is required to get the buyers and the staff familiarized with these things and I guess adoption will not be a problem, there will already be bitcoin users in HK. Their interest in ETF over actual Bitcoins might vary.
Whats up with the image of models in a HK bitcoin ATM? I prefer it being empty when I enter, no prying eyes please.
After the JPEX scandal it seems getting the ETF in is the better of the evils and an attempt to show that they are supporting crypto but not allowing the shady activity to continue. A lot of ground work is required to get the buyers and the staff familiarized with these things and I guess adoption will not be a problem, there will already be bitcoin users in HK. Their interest in ETF over actual Bitcoins might vary.
Whats up with the image of models in a HK bitcoin ATM? I prefer it being empty when I enter, no prying eyes please.
~snip~
However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest. I assume the take up on futures ETF in America has also only been modest? Can the data on bitcoin futures ETF be used as a precedent on how strong or weak spot ETFs might be?
However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest. I assume the take up on futures ETF in America has also only been modest? Can the data on bitcoin futures ETF be used as a precedent on how strong or weak spot ETFs might be?
It doesn't make much sense to compare futures and spot ETFs when it comes to Bitcoin, because they are completely different trading methods that naturally have a different impact on the BTC price. It's no secret that futures BTC ETFs have not caused too much excitement on the market, not only because of the way of trading, but also, as far as I know, because of the costs that clients pay for such a way of trading.
It is true that spot BTC ETFs in various countries are not very successful, so it is logical to ask whether one such in the US can be an exception? I personally think it can, because other countries do not have such giants as BlackRock, Fidelity or Grayscale, and here we are talking about more than $15 trillion under management, noting that there are at least a dozen smaller companies that are interested in the same thing.
HK may be an interesting story, but everything that happens there is several magnitudes smaller than in the US. However, I must admit that they have a good environment at their ATMs - for those who need professional help, of course
The only positive thing I see here is the Bitcoin futures ETFs moving to Hong Kong instead of the US, at least we get rid of SEC control.
However, despite this, I do not see that Bitcoin futures ETFs will have a significant impact on the market, given that this impact has already occurred, and I do not expect to see more than that. There is a great exaggeration in optimism, and what I see is that there will be a slight rise as a result of the good news.
The “real effect” occurs when large amounts of Bitcoin are purchased resulting in increased demand, which will not happen here.
However, despite this, I do not see that Bitcoin futures ETFs will have a significant impact on the market, given that this impact has already occurred, and I do not expect to see more than that. There is a great exaggeration in optimism, and what I see is that there will be a slight rise as a result of the good news.
The “real effect” occurs when large amounts of Bitcoin are purchased resulting in increased demand, which will not happen here.
@bittraffic. The argument is it is overhyped because the pump has occured before there was an approval and this might be something similar to a sell the news occurrence if it is approved.
However, agreed. Bitcoin will skyrocket later after approval when ETF issuers begin twapping hehehe.
However, agreed. Bitcoin will skyrocket later after approval when ETF issuers begin twapping hehehe.
Yes, I believe that will be the case. One thing will be when it is effectively confirmed that the first spot ETF is approved in the USA, which is the one that will influence the market the most, which I think is priced in and that can provoke as you say premeditated sales to fleece retail investors who buy with the news instead of selling.
There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
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In many countries? How many and what are these countries? I am quite certain that there are not many countries offering spot ETFs for bitcoin or other cryptocoins. Also, if it is a spot ETF in a developing country with a small market, we can also be quite certain that it will not have effect on the whole market.
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There are currently 20 active spot bitcoin ETFs worldwide, with a combined $4.16 billion in total assets. The largest spot bitcoin ETFs are Canada's Purpose Bitcoin ETF (BTCC) with $819.11 million in total assets and Germany's ETC Group Physical Bitcoin with $802.52 million in total assets.
Source: Canadian ETFs lead global spot bitcoin funds with $4.16 billion in assets
@bittraffic. The argument is it is overhyped because the pump has occured before there was an approval and this might be something similar to a sell the news occurrence if it is approved.
However, agreed. Bitcoin will skyrocket later after approval when ETF issuers begin twapping hehehe.
Also, it appears Ethereum might also get a spot ETF.
BlackRock, one of the world’s biggest asset managers, officially filed its Spot Ethereum ETF with Nasdaq today. The company’s plan was revealed in a filing by the U.S. exchange where BlackRock will seek to list the product.
Source https://watcher.guru/news/blackrock-officially-files-spot-ethereum-etf-application
However, agreed. Bitcoin will skyrocket later after approval when ETF issuers begin twapping hehehe.
Also, it appears Ethereum might also get a spot ETF.
BlackRock, one of the world’s biggest asset managers, officially filed its Spot Ethereum ETF with Nasdaq today. The company’s plan was revealed in a filing by the U.S. exchange where BlackRock will seek to list the product.
Source https://watcher.guru/news/blackrock-officially-files-spot-ethereum-etf-application
Every country is going to have to offer their people a Bitcoin spot ETF in the future. Not doing so would be hurting themselves financially and their future prospects. Even though Vanguard claims they never will, I’m sure they too will not be able to resist the fees and cries of their customers to bring a Bitcoin spot ETF product to market.
Agreed, however, the question I am presenting is whether the only modest take up of the futures ETF in America and in Hong Kong could be taken as a precedent for the spot ETF's performance. I reckon if thr answer is yes or maybe then similar to @Tytanowy Janusz's speculation, the effect of the spot ETFs on bitcoin might be overhyped.
It's overhyped because people already have it in mind that institutions are not getting in without regulation such as the ETF approval. Thus once they get in, BTC price will skyrocket while BTC on exchanges are getting low for people are also withdrawing their coins. But we have seen the price action when iBTC was listed on dtcc even when it's uncertain yet.
I think BTC will be just like gold and the difference is that because it's digital it's easy to buy and easy to sell.
This is pressure in the United States of America (USA) because there could be some challenges to each country which for me it will be China versus the USA.
And this pressure between countries about ETFs will be a good benefit for Bitcoin and us. We will see a lot of volume and people will start coming into Bitcoin as for sure the adaption and news and topics will start as ETF is a huge thing in the market right now.
And this pressure between countries about ETFs will be a good benefit for Bitcoin and us. We will see a lot of volume and people will start coming into Bitcoin as for sure the adaption and news and topics will start as ETF is a huge thing in the market right now.
Every country is going to have to offer their people a Bitcoin spot ETF in the future. Not doing so would be hurting themselves financially and their future prospects. Even though Vanguard claims they never will, I’m sure they too will not be able to resist the fees and cries of their customers to bring a Bitcoin spot ETF product to market.
Agreed, however, the question I am presenting is whether the only modest take up of the futures ETF in America and in Hong Kong could be taken as a precedent for the spot ETF's performance. I reckon if thr answer is yes or maybe then similar to @Tytanowy Janusz's speculation, the effect of the spot ETFs on bitcoin might be overhyped.
Every country is going to have to offer their people a Bitcoin spot ETF in the future. Not doing so would be hurting themselves financially and their future prospects. Even though Vanguard claims they never will, I’m sure they too will not be able to resist the fees and cries of their customers to bring a Bitcoin spot ETF product to market.
Yeah, it seems like every developed government with a competent financial system is under pressure from investors to approve at least one Bitcoin ETF application.
Maybe those other investment houses who are declining to make a Bitcoin ETF are going to be chasing the rest of the pack like laggards pretty soon once the next halving kicks in.
Every country is going to have to offer their people a Bitcoin spot ETF in the future. Not doing so would be hurting themselves financially and their future prospects. Even though Vanguard claims they never will, I’m sure they too will not be able to resist the fees and cries of their customers to bring a Bitcoin spot ETF product to market.
However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest. I assume the take up on futures ETF in America has also only been modest? Can the data on bitcoin futures ETF be used as a precedent on how strong or weak spot ETFs might be?
I am of the opinion that the moment of official acceptance of the ETF will be the perfect place to close short-term longs on bitcoin, because in my opinion the whole thing is highly overhyped.
I can't imagine anyone who would like to have exposure to bitcoin price change and doesn't have it due to the lack of an ETF. Seriously, even if you dont trust crypto exchanges or don't know how to store your crypto, my regulated broker that I use to buy stocks and bonds from around the world has 140 crypto pairs available in the form of CFDs.
people are so hyped that they expect that spot etf will do to the price of bitcoin what it did to the price of gold, except:
To tell you the truth, I personally am more skeptical that this ETF will give as much to Bitcoin as it did to gold. Gold is hard to buy, hard to sell, each transaction carries the risk of fraud (fake gold), requires a physical transfer to the mint/store and has a huge spread. Gold ETF solved all these problems and made it possible for you to buy physical gold in 2 clicks from home. The same cannot be said for bitcoin, because bitcoin is like gold with build in ETF. It's easy to buy, easy to sell, divisible to cents. And it's not like the ETF will open doors to big institutions either. Microstrategy didn't need an ETF to buy nearly 1% of all bitcoins.
I will also add that hardly anyone adds to this comparison the fact that gold has been in consolidation for 20 years and sooner or later it would explode. This was done 2 years after the introduction of the ETF. There is no evidence that there is any causality here. The price did not explode on the listing day.
There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
In many countries? How many and what are these countries? I am quite certain that there are not many countries offering spot ETFs for bitcoin or other cryptocoins. Also, if it is a spot ETF in a developing country with a small market, we can also be quite certain that it will not have effect on the whole market.
On Bed Bath and Beyond, you cannot compare hehehe. I do not know the story but the stock goes to 0 because the company behind the stock went bankrupt and if a company goes bankrupt, they are ordered to delist their stock from the stock market.
In an case, back on topic, can the data on the take up on futures ETF be used as precedent for how much the take might be for the spot ETF?
However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest.
In other countries, do not expect bitcoin to be bullish if their SEC approve spot bitcoin ETF, but in United States, expect the market to be bullish as we expect becuase it will first start from people fomo and also US have more than half of the worlds share of traditional market.There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
The first was in two years ago but listed this year. So the first bitcoin spot ETF in Europe was this year.Also this is about bitcoin spot ETF in Hong Kong.
There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
USA and the sec is the only country pretty much that refuses to launch one and we don’t know why. Look at how many stocks go bankrupt like Bed bath and beyond and they head to $0 while they think that bitcoin network might stall and the etf will go to $0, highly unlikely.
Investment funds, insitutional investment firms and whales located in Asia will have their own chance on speculating in a spot bitcoin ETF without the need for an American financial institution if spot ETFs are approved.
However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest. I assume the take up on futures ETF in America has also only been modest? Can the data on bitcoin futures ETF be used as a precedent on how strong or weak spot ETFs might be?
The city is weighing retail-investor access to such spot ETFs providing regulatory concerns are met, Securities and Futures Commission Chief Executive Officer Julia Leung said.
The crypto sector sees ETFs as a way of making digital assets more mainstream since the funds are readily available to a variety of investors. Bitcoin has surged 110% this year partly on expectations that the likes of BlackRock Inc. will soon win permission to start the first US spot ETFs for the token.
Both Hong Kong and the US currently allow futures-based crypto ETFs, but the take-up has been modest compared to the overall size of the fund industry. The Asian city current lists the Samsung Bitcoin Futures Active, CSOP Bitcoin Futures and CSOP Ether Futures ETFs. They have combined assets of about $65 million.
Read in full https://finance.yahoo.com/news/hong-kong-mulls-allowing-spot-231014425.html
However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest. I assume the take up on futures ETF in America has also only been modest? Can the data on bitcoin futures ETF be used as a precedent on how strong or weak spot ETFs might be?
The city is weighing retail-investor access to such spot ETFs providing regulatory concerns are met, Securities and Futures Commission Chief Executive Officer Julia Leung said.
The crypto sector sees ETFs as a way of making digital assets more mainstream since the funds are readily available to a variety of investors. Bitcoin has surged 110% this year partly on expectations that the likes of BlackRock Inc. will soon win permission to start the first US spot ETFs for the token.
Both Hong Kong and the US currently allow futures-based crypto ETFs, but the take-up has been modest compared to the overall size of the fund industry. The Asian city current lists the Samsung Bitcoin Futures Active, CSOP Bitcoin Futures and CSOP Ether Futures ETFs. They have combined assets of about $65 million.
Read in full https://finance.yahoo.com/news/hong-kong-mulls-allowing-spot-231014425.html
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