They might be an ETF fee war once Van Eck Strategy approved probably today, They are offering much cheaper fee compared to it's competitor after the negative result on Valkyrie ETF opening last week.
Maybe we might see much cheaper ETF fee in the future, The current fee for all existing Bitcoint Futures ETF is insanely high IMHO.
Reference: https://www.ft.com/content/26893da4-7dcb-47d2-b6a8-6170a64dfbd0
Topic: List of ETF filings this year in the US(NEW ETF ADDED) - page 2. (Read 730 times)
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BITCOIN ETF NEWS RECAP
- ProShares ... SEC Approved Bitcoin (BTC) Futures ETF on October 18th Read more
Not approved, but also not banned, in other words, ProShares application is in limbo. "Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities .... Any representation to the contrary is a criminal offense." So arguing otherwise, you are now a criminal.
The media has already called this state of affairs a tacit agreement, although in my opinion SEC will keep them on a short leash - step to the right, step to the left and the summary execution on the spot.
There ETF was already sold out to the public since October 18. I can't fully verified what you are talking about since your reference is there Form N-1A and it was use for a new open-end mutual funds for there opening on 18.
https://www.cnbc.com/2021/10/19/first-bitcoin-futures-etf-rises-2percent-in-trading-debut.html
VanEck has also been approved to launch Bitcoin futures ETF to trade next week
The United States Securities and Exchange Commission, or SEC, has likely approved asset manager VanEck’s Bitcoin Strategy exchange-traded fund (ETF), with trading expected to begin on Monday.
Link : https://cointelegraph.com/news/vaneck-bitcoin-strategy-etf-will-likely-launch-next-week-as-crypto-prices-reach-aths
BITCOIN ETF NEWS RECAP
- ProShares ... SEC Approved Bitcoin (BTC) Futures ETF on October 18th Read more
Not approved, but also not banned, in other words, ProShares application is in limbo. "Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities .... Any representation to the contrary is a criminal offense." So arguing otherwise, you are now a criminal.
The media has already called this state of affairs a tacit agreement, although in my opinion SEC will keep them on a short leash - step to the right, step to the left and the summary execution on the spot.
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But can't see a Futures based ETF getting many investors - as Futures Roll is so expensive going to track BTC price less 12-15% a year (or worse if holds large proportion of open interest). Very expensive when compared to a physical ETF that can easily have less than 1% costs.
See:
https://bitcointalksearch.org/topic/why-would-anyone-buy-an-etf-that-yielded-btc-minus-12-per-year-5365787
for logic.
See:
https://bitcointalksearch.org/topic/why-would-anyone-buy-an-etf-that-yielded-btc-minus-12-per-year-5365787
for logic.
Bloomberg reported about SEC decision to set soon (reportedly next week) the approval of ProShares ETF pertaining to bitcoin. Another relevant filling to be approved is an Invesco one. This will be followed by Valkyrie, VanEck, Galaxy, etc..Following this news BTC price has touched $60 K on some exchanges, particularly on Binance . I'm watching KuCoin right now where some bots are trying to push the price back. Let's see what will happen...
The first approval will cause a domino effect. Four years ago, in 2017 we did not have any exchange with Bitcoin Futures but in December 2017, we had two exchanges: CBOE and CME.Now only CME is still providing Bitcoin Futures but they are pioneers for Bitcoin Futures and today we have many crypto exchanges with Bitcoin Futures.
Next four years, we will see Bitcoin ETF is something normal after the first Bitcoin ETF approval this year, if SEC approves it.
Bloomberg reported about SEC decision to set soon (reportedly next week) the approval of ProShares ETF pertaining to bitcoin. Another relevant filling to be approved is an Invesco one. This will be followed by Valkyrie, VanEck, Galaxy, etc..Following this news BTC price has touched $60 K on some exchanges, particularly on Binance . I'm watching KuCoin right now where some bots are trying to push the price back. Let's see what will happen...
I see Volt Equity ETFs have already been approved. I wonder how strongly Bitcoin will react if ETF approval after ETF begins? Perhaps the next wave of bitcoin pumping awaits us, like this year, thanks to the institutions.
I think it's going to be more of a question of how many ETFs will it take till it really gets moving.
As more come to be able to be bought more people will get in, as more people get in even more will be bought.
The 1st few, although important may not move the price in an large way until there is 'critical mass'.
What the number is to active critical mass, I have no idea.
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One more crypto company has jumped into ETF race. This time it is crypo lender BlockFi that is seeking to launch ETF in USA. If the SEC approves this application then "the total value of the bitcoin to which the fund has economic exposure is equal to approximately 100% of the net assets of the fund." I think such an approval would be good news for customers of the US lending industry.
SEC will approve as long as its not a direct Bitcoin ETF since there's no clear regulation for that. A crypto company ETF is more acceptable for them since there's a firm regulation for ETF for company. This crypto company ETF list might increase in the following months when the ongoing Bitcoin ETF will be disapproved.
One more crypto company has jumped into ETF race. This time it is crypo lender BlockFi that is seeking to launch ETF in USA. If the SEC approves this application then "the total value of the bitcoin to which the fund has economic exposure is equal to approximately 100% of the net assets of the fund." I think such an approval would be a good news for customers of the US lending industry.
Some details from BlockFi profile:
https://craft.co/blockfi
Some details from BlockFi profile:
https://craft.co/blockfi
SEC Chair Gensler: A Ban on Crypto Would Be ‘Up to Congress’
Finally it was spoken that SEC is not in charge to ban crypto that is up to the Congress. It is a misleading statement because if the Congress want to ban crypto, there will be turned into real implementation via SEC.
If the crypto market can have the first Bitcoin ETF, it will give the market a very positive sentiment. People who are only observing and hesitating to invest in Bitcoin will make their decisions to be in. A new FOMO wave will occur.
In 2017, the market has first future exchanges: CBOE and CME.
In 2017, will the market has first Bitcoin ETF?
Finally it was spoken that SEC is not in charge to ban crypto that is up to the Congress. It is a misleading statement because if the Congress want to ban crypto, there will be turned into real implementation via SEC.
If the crypto market can have the first Bitcoin ETF, it will give the market a very positive sentiment. People who are only observing and hesitating to invest in Bitcoin will make their decisions to be in. A new FOMO wave will occur.
In 2017, the market has first future exchanges: CBOE and CME.
In 2017, will the market has first Bitcoin ETF?
@Coin_trader, thanks for the interesting information, things seem to be starting to move in a positive direction, and such SEC decisions give even more hope to those eagerly awaiting the BTC ETF. It is also now more than clear that in the event of a positive decision, this ETF will be based on futures, which is again a step forward - but the question is whether such an ETF will have a significant impact on the crypto market, because everyone is hoping for a physically-backed ETF.
I would not say that there is anything strange or ridiculous in the fact that such an ETF is approved, because it is something completely different from what the SEC has persistently refused for years.
I would not say that there is anything strange or ridiculous in the fact that such an ETF is approved, because it is something completely different from what the SEC has persistently refused for years.
Quote
Park said the Bitcoin Revolution Fund will be less volatile than pure crypto plays since a plunge in the price of Bitcoin does not have a major affect on the shares of firms like Tesla or PayPal. Like other ETFs, the Volt fund's fees are modest, consisting of a 0.85% annual management fee.
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@Lucius, Fair enough. 
OT, SEC approved an ETF for company that holding large amount Bitcoin on there balance sheet, This ETF includes 30 company and some of it are Tesla, Twitter, PayPal and many more. It's funny that the ETF for huge company approves faster than Bitcoin ETF that been pending for a couple of years.
Source: https://decrypt.co/82864/sec-bitcoin-etf-volt-tesla
OT, SEC approved an ETF for company that holding large amount Bitcoin on there balance sheet, This ETF includes 30 company and some of it are Tesla, Twitter, PayPal and many more. It's funny that the ETF for huge company approves faster than Bitcoin ETF that been pending for a couple of years.
Source: https://decrypt.co/82864/sec-bitcoin-etf-volt-tesla
There's a high probability that they will really approve some this ETF because they can just reject it if they are still not happy about it but they move the approval date and some of the member of SEC giving a positive statement about there stand in cryptocurrency ruling,
I personally doubt that probability is high, because as I wrote recently, the SEC is very tough in its stance on Bitcoin in terms of approving ETF. In general, nothing has changed when it comes to Bitcoin (except the price), which means that the SEC still does not want to give the green light to something that is "largely unregulated" according to them.
This delay is a blessings in disguise by SEC and we might see a legit 6 digit price this Christmas. FOMO will start once Bitcoin hits again 60K mark.
It is not a matter of any delay resulting from the SEC expressing any doubts about its decision - it is a matter of respecting legal deadlines and procedures. As far as I know, the final decision is made after 240 days, and it is preceded by two more deadlines in which the SEC can (and does not have) make a decision or extend everything to the next deadline.
Quote from: https://www.cnbc.com/2021/08/19/experts-say-sec-approval-for-a-bitcoin-etf-wont-happen-any-time-soon.html
But even though Gensler seems more comfortable with futures-based bitcoin ETFs than physical ones, they are likely still far off. “I expect a futures-based [bitcoin] ETF approval is more likely to occur in 2022 than in 2021,” Rosenbluth says.
This is likely due, in part, to SEC concerns. Along with worry over fraud and volatility within the cryptocurrency space, the SEC may also be concerned about how demand for a physical bitcoin ETF would impact the overall market.
Futures-based bitcoin ETFs would also come with unique risks, including that they do not necessarily track the price of the underlying security and come with higher costs, Rosenbluth says.
This is likely due, in part, to SEC concerns. Along with worry over fraud and volatility within the cryptocurrency space, the SEC may also be concerned about how demand for a physical bitcoin ETF would impact the overall market.
Futures-based bitcoin ETFs would also come with unique risks, including that they do not necessarily track the price of the underlying security and come with higher costs, Rosenbluth says.
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SEC delays again the result of 4 Bitcoin ETF for another 60 days. List of the following ETF below:
Maybe this is the reason why Bitcoin is pumping hard. Another room for possible hype before the result of approval on ETF application. Whales well played on this part.
Source: https://finance.yahoo.com/news/sec-stalls-again-four-bitcoin-194923376.html
- Kryptoin Bitcoin ETF
- WisdomTree Bitcoin Trust
- Valkyrie XBTO Bitcoin Futures Fund
- Global X Bitcoin Trust
Maybe this is the reason why Bitcoin is pumping hard. Another room for possible hype before the result of approval on ETF application. Whales well played on this part.
Source: https://finance.yahoo.com/news/sec-stalls-again-four-bitcoin-194923376.html
That’s a bit of a shame but the timing better matches up with the expected peak of Bitcoin this cycle anyway. Before this news I expected we’d see an ETF approval in the next two weeks. Now it’s looking like we’ll be waiting until the end of November instead. In any event, it should be a good Christmas this year.
There's a high probability that they will really approve some this ETF because they can just reject it if they are still not happy about it but they move the approval date and some of the member of SEC giving a positive statement about there stand in cryptocurrency ruling, This delay is a blessings in disguise by SEC and we might see a legit 6 digit price this Christmas. FOMO will start once Bitcoin hits again 60K mark.
SEC delays again the result of 4 Bitcoin ETF for another 60 days. List of the following ETF below:
Maybe this is the reason why Bitcoin is pumping hard. Another room for possible hype before the result of approval on ETF application. Whales well played on this part.
Source: https://finance.yahoo.com/news/sec-stalls-again-four-bitcoin-194923376.html
- Kryptoin Bitcoin ETF
- WisdomTree Bitcoin Trust
- Valkyrie XBTO Bitcoin Futures Fund
- Global X Bitcoin Trust
Maybe this is the reason why Bitcoin is pumping hard. Another room for possible hype before the result of approval on ETF application. Whales well played on this part.
Source: https://finance.yahoo.com/news/sec-stalls-again-four-bitcoin-194923376.html
That’s a bit of a shame but the timing better matches up with the expected peak of Bitcoin this cycle anyway. Before this news I expected we’d see an ETF approval in the next two weeks. Now it’s looking like we’ll be waiting until the end of November instead. In any event, it should be a good Christmas this year.
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SEC delays again the result of 4 Bitcoin ETF for another 60 days. List of the following ETF below:
Maybe this is the reason why Bitcoin is pumping hard. Another room for possible hype before the result of approval on ETF application. Whales well played on this part.
Source: https://finance.yahoo.com/news/sec-stalls-again-four-bitcoin-194923376.html
- Kryptoin Bitcoin ETF
- WisdomTree Bitcoin Trust
- Valkyrie XBTO Bitcoin Futures Fund
- Global X Bitcoin Trust
Maybe this is the reason why Bitcoin is pumping hard. Another room for possible hype before the result of approval on ETF application. Whales well played on this part.
Source: https://finance.yahoo.com/news/sec-stalls-again-four-bitcoin-194923376.html
An ETF is a financial product that was created in 1993 in the US when Nathan Most and Steven Bloom jointly developed the S&P SPDR Deposit Receipts index.
ETFs are not the same market as the bitcoin market.
The SEC always claims to protect investors, but in reality they are more like a CYA entity. They talk about a good game, but really more reactive than proactive.
Some of the hurdles that some companies have overcome are insane. And since internet and internet security are new, they have asked for a lot. Now, it's a well-known process that at least one is aware of though not easy or simple. So you can send in an efficient way.
ETF is one of the important products, creating value for investors in recent years. In particular, if used wisely, ETFs become a product that brings great value to investors.
ETFs are not the same market as the bitcoin market.
The SEC always claims to protect investors, but in reality they are more like a CYA entity. They talk about a good game, but really more reactive than proactive.
Some of the hurdles that some companies have overcome are insane. And since internet and internet security are new, they have asked for a lot. Now, it's a well-known process that at least one is aware of though not easy or simple. So you can send in an efficient way.
ETF is one of the important products, creating value for investors in recent years. In particular, if used wisely, ETFs become a product that brings great value to investors.
If Physically Backed ETF will be approved, will the current Bitcoin price volatility will gonna lessen? Sec will surely monitor and implement guideline to address issue before they start approving this ETF filing because they will ensure that this is safe for consumer investment. I'm not knowledgeable enough on how ETF so maybe there's a flaw on my opinion.
As the amount of fiat increases that goes into bitcoin, it will help reduce volatility because as the market increases, the amount of bitcoin or fiat that is required to move the market will increase also.
The SEC always claims to be about protecting investors, but in reality they are more of a CYA entity. How else could they miss Bernie Madoff for decades? How else could they miss Stanford Financial? They talk a good game, but are really more reactive than proactive. I hope they approve one, but if the last ~8 years is any guide, it will be only when they are dragged kicking and screaming to do it.
The approval of cryptocurrency ETFs in the USA by the SEC. Could coincide with deployment of the taproot amendment to bitcoin core, if they are approved near october 2021 as some claim. That's the most interesting aspect to recent rumors of the SEC taking a more open stance towards crypto ETFs. Along with possibly mounting pressure on regulators from an increasing number of crypto whales to grant ETFs a green light.
Other countries have used and enjoyed crypto ETFs for years now. While americans have always been barred from enjoying similar options. Its ironic how the "land of the free" offering far fewer financial freedoms and opportunities in contrast to foreign lands has become entirely normalized. Aside from the 2nd amendment and gun ownership, a case could be made for us having the fewest (financial) freedoms in the entire world.
Other countries have used and enjoyed crypto ETFs for years now. While americans have always been barred from enjoying similar options. Its ironic how the "land of the free" offering far fewer financial freedoms and opportunities in contrast to foreign lands has become entirely normalized. Aside from the 2nd amendment and gun ownership, a case could be made for us having the fewest (financial) freedoms in the entire world.
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