In a recent interview with Bloomberg, Mike Belshe, CEO of crypto exchange BitGo.

avikz

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Quote from: SPARE on November 19, 2023, 01:06:43 AM

Bitcoin ETF approval nearing, but brace for more setbacks: BitGo CEO stated that the market structure needs to improve before the U.S. SEC will grant approval for Bitcoin ETFs.

That is my biggest concern. When someone says that the market structure needs to improve, what it really means?

Does it mean more regulation? Very strict KYC verification? 100% data sharing agreement with IRS? Higher tax rate?

What it means by the better structure? The better the structure becomes for the government, the worse it grows for the crypt users.

Faisal2202

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Another dude showing his optimism about ETFs I think he forgot to show it before so he is doing it now well he is late now that's why to create some uniqueness he said those words which are also not fully true in his own words. He is just manipulating words either way he will be right at the end rather ETF got approved or not.

Well, ETFs have got a hell lot of hype and interest now and I don't think the SEC has another way but to accept them because they will get more tax-paying investors so why they won't do it? They will do it but before accepting it they want to manipulate it with there power or maybe they are testing there power by trying to manipulate the market with ETF's news.

adaseb

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Quote from: Don Pedro Dinero on November 19, 2023, 03:51:35 AM

Quote from: mk4 on November 19, 2023, 03:10:30 AM

It's pretty much everyone's opinion right now anyway. The consensus is that the ETF will highly likely be approved by January; and James Seyffart seems to agree on that.

Is anyone in a hurry to get it approved? I'm not, although I guess the industry is nervous and wants to get one passed now, but just as it is supposed to make it easier for institutional money to come in, it will also make it come in through a centralised mechanism and can add volatility, so that an initial upward reaction can be followed by rapid downturns.

Yes it seems everybody wants one approved. However the same scenario happened back in early 2017 when everyone was 99% sure the Winklevoss twins etf would be approved.

People were analyzing all these meetings and saying since “so and so” had a meeting with “so and so” it could only mean it’s approved and in the end, rejection.

Nobody could believe it and I think Bitcoin had a huge crash before trending higher later on that month.

ZAINmalik75

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Quote from: mk4 on November 19, 2023, 03:10:30 AM

Quote

“I think it is quite likely we have another round of ETF rejections before we get the positive news.”

It's pretty much everyone's opinion right now anyway. The consensus is that the ETF will highly likely be approved by January; and James Seyffart seems to agree on that.

Yeah, it has become everyone's opinion Cheesy

I also have the same opinion that the ETF will be approved by January because of the first ETF's final deadline of ARK. It is predicted that will be accepted and if it will be accepted then others will be accepted too.

Honestly, I was not hoping these ETFs would be approved before the halving because in my opinion this will boost the price of BTC more and the bull run could stay for a longer period of time if these ETFs were accepted after the halving.

Till now I have seen that these ETFs are just a way to manipulate the market and if these are really manipulation then they might reject the first ETF to create fear in the market and then dump it to fill their bags with BTC or other alts and after the halving, they might accept the upcoming ETFs and might accept the first ETF too.

mk4

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Quote from: Don Pedro Dinero on November 19, 2023, 03:51:35 AM

Is anyone in a hurry to get it approved? I'm not, although I guess the industry is nervous and wants to get one passed now, but just as it is supposed to make it easier for institutional money to come in, it will also make it come in through a centralised mechanism and can add volatility, so that an initial upward reaction can be followed by rapid downturns.

Yes — pretty much the people who hold a lot of BTC and that are fully (or almost fully) deployed already; of course they'd want BTC to pump as soon as possible. As for people who want to have more time to buy more BTC though, It'll be a different story.

buwaytress

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Always been a matter of time for approval, US knows the business goes elsewhere otherwise, but it's not just the market structure that needs to improve (that is true for any asset, of any type). Corporate mismanagement and banking transparency are age-old issues that seem to only deepen. Bitcoin doesn't;t solve that. Bitcoin ETFs only seem to highlight those gaping wounds.

They're rightly afraid of more FTXs.

Mrbluntzy

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Bitcoin have a lot of investors already worldwide and what every investors of bitcoin want is a growth and more wide adoption of bitcoin, if some big investors finds bitcoin to be a good asset, they will definatly invest some more money into bitcoin and it will be good for bitcoin. According to what i read that the " ETF is widely expected to usher in a fresh wave of investor interest in digital assets, which would support prices." I think the approval of the bitcoin ETF is a good thing for bitcoin.

shahzadafzal

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While the road ahead may have its challenges but the ongoing SEC discussions are a promising sign.

Yup indeed it feels great to see positive indications for a Bitcoin ETF approval and it is making people excited! I can see how exited some people are

Quote from: ThemePen on November 19, 2023, 04:07:26 AM

@hugeblack is also extremely excited for ETF

SPARE

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Quote from: kryptqnick on November 19, 2023, 02:52:34 AM

Op, your first link seems incorrect, but I went to the source link and then found the link to a short YouTube clip from there: https://www.youtube.com/watch?v=TAjWw5l6Uys.

Thank you for pointing out my mistake, I accidentally put another link Now I have added the correct link.

ThemePen

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The day after day we are looking that Bitcoin is getting stronger and market is stabling itself. We are looking that ETF approvals date are coming more closer.
It will be good news that there may be approval for a Bitcoin ETF in January. This could make it easier for people to invest in cryptocurrency and make it more trustworthy. Even though there may be some difficulties along the way it is nice to see that we are making progress towards approving a Bitcoin ETF.
And if one of the that companies will get approval who had applied. So others will also get the approval one by one. And if one company will get approval do it will show that how the market will perform and if it will give a positive move (I am sure it will be positive) so other approval will also give more positive move. So let's wait for the approval.

Don Pedro Dinero

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Quote from: mk4 on November 19, 2023, 03:10:30 AM

It's pretty much everyone's opinion right now anyway. The consensus is that the ETF will highly likely be approved by January; and James Seyffart seems to agree on that.

Is anyone in a hurry to get it approved? I'm not, although I guess the industry is nervous and wants to get one passed now, but just as it is supposed to make it easier for institutional money to come in, it will also make it come in through a centralised mechanism and can add volatility, so that an initial upward reaction can be followed by rapid downturns.

hugeblack

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Speculation that says this does not come from the formulation of some statements, which may be based on personal intuition rather than reliable information, and even his statement contains a partial statement that the market structure needs to improve before the US Securities and Exchange Commission grants approval to Bitcoin ETFs, which means If the SEC does not approve, he has a way out by saying that the market structure is the reason and that approval will be soon. In fact, the number of people who are certain of such information will not come out and state it publicly.

mk4

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Quote

“I think it is quite likely we have another round of ETF rejections before we get the positive news.”

It's pretty much everyone's opinion right now anyway. The consensus is that the ETF will highly likely be approved by January; and James Seyffart seems to agree on that.

kryptqnick

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Op, your first link seems incorrect, but I went to the source link and then found the link to a short YouTube clip from there: https://www.youtube.com/watch?v=TAjWw5l6Uys.
I've heard this thing about the ETF getting closer for months now. This guy, at least, says that it's likely that we'll see another round of rejections first because there are additional steps that need to be taken. What I think might be pretentious is he says that his company does things the right way, basically, and it seems that he believes that his company could either get an approval or help other companies get an approval if they partner up with it.

SPARE

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Bitcoin ETF approval nearing, but brace for more setbacks: BitGo CEO stated that the market structure needs to improve before the U.S. SEC will grant approval for Bitcoin ETFs.
Mike Belshe, CEO of cryptocurrency exchange BitGo, has suggested that all indications are leaning towards a favorable outcome for a spot Bitcoin exchange-traded fund (ETF). However, he emphasized that the journey ahead won't be without challenges. Bloomberg on November 16, Belshe explained that based on the discussions taking place between firms seeking Bitcoin ETF approval and the United States Securities and Exchange Commission (SEC), he holds an optimistic view that approval is imminent.
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Topic: In a recent interview with Bloomberg, Mike Belshe, CEO of crypto exchange BitGo. (Read 201 times)