sec consider new bitcoin and ethereum ETF

klaaas

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Quote from: Ipwich on May 11, 2019, 12:14:30 AM

Even the bad news will not stop the bull run, Binance hack which is a big bad news did not affect the market.

It feels like the last years users of exchanges took in account events like this could happen. Shows also how big bitcoin has become.

Long or short ETFs will be fired until 1 get approved.

Pursuer

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last time I heard about ethereum ETF on one of these news sites, it turned out to be a scam by the ETH pumpers trying to pump their bags of coin thinking if they pay the news sites to hype it in the news they can get some momentum out of it and get a nice pump. if I am not mistaken right after that "news" the price of it fell down from $500 to $380ish and they failed at their pump attempt. Cheesy

Lucius

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The fact is that every ETF application has a period of 240 days in which SEC three times makes a decision on acceptance / prolonging at the next deadline / or final rejection. Only bitcoin ETFs who have some chance to get green light in this year are VanEck&SolidX&Cboe BZX and they start date is Fabruary 13. Other ETF is from Bitwise Investment Management&NYSE Arca which is published two days later.

As far I know only ETF that would make sense is from VanEck&SolidX which is physically based ETF, which means that shares are backed with real bitcoin. Others ETFs are only based on futures trading and some other options, so they should not over-influence the market.

Indrawan77

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People are tired of sec and etf things, they just playing around with crypto but never intended to apply it, so nobody really care anymore even without etf the price has been rising and people are comfortable with the price and usage, the interference of etf will disrupt the market balance and cause unnecessary disturbance

Yaunfitda

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Quote from: Ipwich on May 11, 2019, 12:14:30 AM

I thought we already forget about the ETF, people's focus now is on the bull run.
Since OP stated that every news is a good news, this one is not already relevant as we already have good news in the market.
What is more relevant to us that would probably make the value of bitcoin to rise more is the application approval.

Even the bad news will not stop the bull run, Binance hack which is a big bad news did not affect the market.

Yes, we have move forward with this idea of having a ETF approval. It's not in our hand, better to focus on more important things that we can influence like the current bull run.

I remember the Bitfinex hacked years ago, more than what Binance lost but the bull run didn't stop, history repeating itself?

Ipwich

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I thought we already forget about the ETF, people's focus now is on the bull run.
Since OP stated that every news is a good news, this one is not already relevant as we already have good news in the market.
What is more relevant to us that would probably make the value of bitcoin to rise more is the application approval.

Even the bad news will not stop the bull run, Binance hack which is a big bad news did not affect the market.

sunsilk

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I'm totally off with ICOs or IEOs and won't have that feeling to rush of investing with any of them. I'm also focused of keeping eth, few alts and btc for the meanwhile, it's the safest choice for this bull run.

And when we all talk about ETF, people are already disappointed with the decision that SEC is giving. They keep on delaying it as if the people has been excited most of the time. Before we were but for now, not anymore but if at least this will be pushed and would come into reality, it's still a good news.

WinslowIII

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Quote from: pooya87 on May 10, 2019, 10:14:56 PM

ETF right now is like China, nobody gives a shit about it anymore but they can keep coming up with new ETFs just like they keep coming up with new China banned bitcoin. at this point it is just noise in the background going ignored.

Quote from: WinslowIII on May 10, 2019, 05:35:51 PM

Litecoin seems to be a better coin to hold than ethereum because it seems to have a purpose.

none of the altcoins that were created so far are worth holding because none of them have any long term potential. they are either crappy centralized coins like ethereum or have some supply (inflation) problems or both.

Well, I don't hold any altcoins but litecoin as stupid as it is makes more sense to me than fucking ethereum, which had it's day in the sun but wtf is it worth now that it's ico scams are gone?

pooya87

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ETF right now is like China, nobody gives a shit about it anymore but they can keep coming up with new ETFs just like they keep coming up with new China banned bitcoin. at this point it is just noise in the background going ignored.

Quote from: WinslowIII on May 10, 2019, 05:35:51 PM

Litecoin seems to be a better coin to hold than ethereum because it seems to have a purpose.

none of the altcoins that were created so far are worth holding because none of them have any long term potential. they are either crappy centralized coins like ethereum or have some supply (inflation) problems or both.

WinslowIII

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Quote from: bitmover on May 10, 2019, 08:59:32 AM

Quote

https://cointelegraph.com/news/sec-to-consider-new-bitcoin-and-ethereum-exchange-traded-fund-application

United States regulator, the Securities and Exchange Commission (SEC), is reviewing a new application for a cryptocurrency exchange-traded fund (ETF), documents released on May 9 show.

The product comes courtesy of Crescent Crypto Index Services, a subsidiary of benchmarking and passive index investing firm Crescent Crypto Asset Management.

It would include a portfolio of both bitcoin (BTC) and ether (ETH), and be active on the New York Stock Exchange (NYSE) under the “XBET” ticker.

“XBET is an exchange traded fund. This means that most investors who decide to buy or sell shares of XBET place their trade orders through their brokers and may incur customary brokerage commissions and charges,” the filing confirms.

In a bull market every news is good news.
A new life is coming to the cryptocurrency ecosystem, and etf may be finally coming. An ethereum ETF would also be amazing , what could trigger a new ico crazy. This time I will stay away and keep only eth and BTC Wink

I don't see another ico craze, way too many people lost their asses and way too many governments are watching for these scams. Without scam icos, what purpose do ethereum gas tokens serve is my question. Why even hold that shit? Litecoin seems to be a better coin to hold than ethereum because it seems to have a purpose.

Gozie51

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The thing I actually want to see happen is the approval of ETH ETF Grin

This will really be a good news for altcoin, etheruem platform coins. It will also bring a very stiff competition for bitcoin. That will speedily get the approval of btc done afterwards.

Baofeng

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Quote from: LeGaulois on May 10, 2019, 12:41:36 PM

I'm not even sure if ETF will finally have something positive to Bitcoin. People don't care anymore about it. Only people already in crypto do and not because they're interested in an ETF but because they hope the Bitcoin value increase. BTC ETF is a flop dead before born.

This. Almost everyone here are tired hearing this ETF's proposal because we all know that SEC will just shoot down that idea. What makes it worst though is that they keep on delaying and prolonging the agony. But crypto enthusiast are very wise not to wait for the approval anymore because they know that SEC will reject it, it doesn't matter who are the people or institution behind applying for ETF's.

exstasie

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Quote from: bitmover on May 10, 2019, 08:59:32 AM

Quote

https://cointelegraph.com/news/sec-to-consider-new-bitcoin-and-ethereum-exchange-traded-fund-application

United States regulator, the Securities and Exchange Commission (SEC), is reviewing a new application for a cryptocurrency exchange-traded fund (ETF), documents released on May 9 show.

The product comes courtesy of Crescent Crypto Index Services, a subsidiary of benchmarking and passive index investing firm Crescent Crypto Asset Management.

It would include a portfolio of both bitcoin (BTC) and ether (ETH), and be active on the New York Stock Exchange (NYSE) under the “XBET” ticker.

“XBET is an exchange traded fund. This means that most investors who decide to buy or sell shares of XBET place their trade orders through their brokers and may incur customary brokerage commissions and charges,” the filing confirms.

In a bull market every news is good news.
A new life is coming to the cryptocurrency ecosystem, and etf may be finally coming. An ethereum ETF would also be amazing , what could trigger a new ico crazy. This time I will stay away and keep only eth and BTC Wink

What makes you think this one has a better chance of getting approved than all the past applications?

The CFTC is putting BAKKT through the wringer and the SEC has rejected every application put before them. That includes applications from the likes of CBOE and VanEck.

Who the hell is "Crescent Crypto" anyway?

dothebeats

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Eh, stimulating the market yet again only to ultimately deny what they initially "reconsidered." This is a load of bull from the SEC and I don't think people are still believing whatever they release in regards to ETFs as they have initially rejected tons of applications that may have served the market in quite a great fashion. Well, the much awaited Bakkt is still in the sidelines as this is all happening, and even that has been lost into the oblivion and the media attention after the initial fund raising, too.

omonuyak

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Quote from: LeGaulois on May 10, 2019, 12:41:36 PM

I'm not even sure if ETF will finally have something positive to Bitcoin. People don't care anymore about it. Only people already in crypto do and not because they're interested in an ETF but because they hope the Bitcoin value increase. BTC ETF is a flop dead before born.

Etf should add something very positive to bitcoin and ethereum! Before now when ETF disapproval's news do hit the cryptocurrencies market , bitcoin and cryptocurrencies market do witnessed big lose and because of this I do believe that if it is finally approve it should influence bitcoin and ethereum price too.

ryzaadit

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Consider the application of the ETF ? And just make another announcement the application was rejected, then make the market on a bad position again. All the people already getting boring about these, They already don't care anymore about ETF rightnow. To be honest, I also not hope too much about the ETF right now, I believe cryptocurrency have their own world.

LeGaulois

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I'm not even sure if ETF will finally have something positive to Bitcoin. People don't care anymore about it. Only people already in crypto do and not because they're interested in an ETF but because they hope the Bitcoin value increase. BTC ETF is a flop dead before born.

1Referee

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If the CBOE Bitcoin ETF proposal isn't going to be approved, then the inferior other proposals by default don't stand a chance.

Submitting an ETF proposal is something that isn't special on its own, neither that the SEC will look into it.

Quote from: bitmover on May 10, 2019, 08:59:32 AM

An ethereum ETF would also be amazing , what could trigger a new ico crazy. This time I will stay away and keep only eth and BTC Wink

An ICO craze will result in innocent people filling the pockets of scammers. Ethereum ETF? No thank you.

rdbase

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Last time there was news of an etf for bitcoin it got shotdown and the market fell flat with it.
Best to have no news about any etf so to keep the momentum going until we are at all time high levels again. Grin

Slow death

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The SEC will not accept some bitcoin ETF or some ETH ETF while crypto is not a legalized market by governments so we have to forget these ETFs. People have lost their hopes of seeing some ETF bitcoin being approved months ago and no longer believe in the possibility of approving some ETF and this can see because when you talk about ETF it does not change the prices because as I said nobody else is worried about these ETFs

Topic: sec consider new bitcoin and ethereum ETF (Read 329 times)