Honestly, as they have rejected so many until now,these decision of delaying do not bring me any hype neither, that is actually a good thing too.
Think about it, if we were expecting a lot and assuming it would be getting accepted and than it got delayed again or got rejected we would be let down and the price would fall, however considering nobody expects this to get accepted now there is no pressure and even if it gets rejected than the price would be not affected however if it somehow gets accepted (Doubtful) than it would affect the price greatly and it would go up.
So, there is no downturn here, there is nothing that could affect the price badly, its either gonna be zero affect or it will be positive affect which is why I think its awesome. I personally love the situation right now because of it.
Topic: SEC delays decision on ETF again, Vaneck, SolidX withdraw proposal - page 3. (Read 1526 times)
August 17, 2019, 01:07:46 PM
August 15, 2019, 01:40:56 PM
In any case, mark the dates mentioned in the article and expect another delay.
why does SEC even bother dedicating any time for these proposals anyways. they are going to reject all of them in the end, they have been doing it for a couple of years now without any exceptions. they just waste the time of their staff, these companies submitting ETFs and everyone else's time!
And then I doubt if the SEC would really approve this as we know that they have even once been against cryptocurrency, so there is no point thinking they would really be convinced about it and change their mind.
August 15, 2019, 12:15:27 PM
there seems to be something else in play here which makes SEC reject them. they need to find and fix that issue first.
I think we all know that the SEC can not independently make such a decision, they are waiting approval from some higher instance, and we all see what is the attitude of the most powerful people in the American political scene toward cryptocurrency. Some say Libra is good thing for BTC, but it shows just the opposite, they put all coins in one basket and they will deal with them in the same way.
I doubt that any fix can be made from companies that submit requests, they cannot eliminate volatility or force crypto exchanges to operate even more transparently, so it all comes down to politics in the end.
August 15, 2019, 11:14:04 AM
why shouldn't they just stop applying ETF? at least let them rest for 5 years before applying again.
they took time to analyze how to take advantage of this ETF while they are delaying all these they are also losing the opportunity to some projects that might also apply for ETF when they finally approve BTC.
August 15, 2019, 11:00:41 AM
Another delay. I reckon everyone does not care anymore and knows that bitcoin can Tom Lee itself to $25k without an ETF hehehe.
In any case, mark the dates mentioned in the article and expect another delay.
The U.S. Securities and Exchange Commission (SEC) delayed making a decision on three bitcoin exchange-traded fund (ETF) proposals Monday.
The ETFs, proposed earlier this year by asset managers Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix, and filed with exchanges NYSE Arca and Cboe BZX, are all seeking to become the first such investment vehicle based on bitcoin.
The filings were published in the Federal Register in February and June, kicking off the legally-mandated 240-day clock on a final decision.
Final decisions on the Bitwise and VanEck/SolidX proposals are expected by Oct. 13 and Oct. 18, respectively.
The next decision on the Wilshire Phoenix proposal is scheduled to occur by Sept. 29.
Read in full https://www.coindesk.com/sec-delays-decisions-on-3-bitcoin-etf-proposals-until-autumn
In any case, mark the dates mentioned in the article and expect another delay.
The U.S. Securities and Exchange Commission (SEC) delayed making a decision on three bitcoin exchange-traded fund (ETF) proposals Monday.
The ETFs, proposed earlier this year by asset managers Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix, and filed with exchanges NYSE Arca and Cboe BZX, are all seeking to become the first such investment vehicle based on bitcoin.
The filings were published in the Federal Register in February and June, kicking off the legally-mandated 240-day clock on a final decision.
Final decisions on the Bitwise and VanEck/SolidX proposals are expected by Oct. 13 and Oct. 18, respectively.
The next decision on the Wilshire Phoenix proposal is scheduled to occur by Sept. 29.
Read in full https://www.coindesk.com/sec-delays-decisions-on-3-bitcoin-etf-proposals-until-autumn
I believe the SEC is hoping to see what the position of US politicians is, since so far it seems to me that they are between yes and no or there is nothing concrete whether they want to legalize or not bitcoin, so the SEC is left without too many arguments to accept an ETF. Then the SEC will wait and see how the government will position itself and assess whether it will be less problematic for them if they accept an ETF bitcoin. this became a "political" game.
and about tom lee he's now very cautious in his predictions:
Quote from: https://cointelegraph.com/news/fundstrat-co-founder-tom-lee-us-fed-rate-cuts-are-helping-bitcoin
“We don’t have a target for Bitcoin, but the prior high was $20,000. I think there’s a good possibility that Bitcoin reattains that high this year.”
August 14, 2019, 04:25:32 PM
What I dont quite get is why one countries ETF regulations are the start and end of this proposal. There are major markets all over the world in lots of different currencies, sure USA might be the largest but theres surely other routes. Seems strange it should come down to a few peoples opinion on BTC when its all about decentralisation why would this be a chokepoint for development and why is that ok. Surely its not compatible if so constricted, not really.
I get money matters and this alot of money potentially flowing in but I think dont see its important at all to the spirit of BTC and its long game. Its just speculation.
I get money matters and this alot of money potentially flowing in but I think dont see its important at all to the spirit of BTC and its long game. Its just speculation.
The US is the financial capital of the world. If you look at the largest ETF markets in the world, you have the US with $5 trillion being the absolute number one, while the second largest ETF market with a strong Bitcoin representation (Japan) comes in at a measly $300-$400 million. I think the numbers do speak for themselves.
Investors care only about the numbers and how willing institutions in a certain country are to allocate a certain percentage of their portfolio to speculative assets. Nothing beats the US in that regard.
The big money that moves the market doesn't care about decentralization, only we do as perma bulls. For them it's just a very lucrative financial adventure.
August 14, 2019, 03:44:43 PM
-snip-
@bbc.reporter I could not help but notice you’re smitten by Tom Lee lol, but coming to Sec I had forgotten about their decision as each time there’s either a delay or a rejection. Another set of dates and again Sec will delay the application why doesn’t it simply puts up a notice, stating they’ll not be approving Bitcoin ETFs kindly do not submit any applications regarding it. I don’t expect the market to be effected by this decision, but what do you’ll think will prices remain neutral or will it tank?.
August 14, 2019, 07:58:39 AM
What I dont quite get is why one countries ETF regulations are the start and end of this proposal. There are major markets all over the world in lots of different currencies, sure USA might be the largest but theres surely other routes. Seems strange it should come down to a few peoples opinion on BTC when its all about decentralisation why would this be a chokepoint for development and why is that ok. Surely its not compatible if so constricted, not really.
I get money matters and this alot of money potentially flowing in but I think dont see its important at all to the spirit of BTC and its long game. Its just speculation.
I get money matters and this alot of money potentially flowing in but I think dont see its important at all to the spirit of BTC and its long game. Its just speculation.
August 14, 2019, 07:07:08 AM
That is why if one day a place like JP Morgan for example decides that they want to actually come up with an ETF that would be presented to SEC it will be accepted in first ever hearing, it would be accepted by first day but they would have to wait until the official day to sign it basically, so its not about SEC being against btc but more about SEC wanting a piece of the pie.
Piece of what pie? Their job is to keep markets orderly. They have the power to approve market products provided they can ensure they operate in a manner they can oversee and enforce.
Nothing has happened since the idea of the first Bitcoin ETF emerged to point to that being any more achievable.
I still don't believe we'll see an ETF for many more years, if ever. And if one ever did emerge it'll have been long since surpassed by products that routed around the necessity of SEC approval.
August 14, 2019, 07:00:50 AM
I think it is not a formality, if you know how SEC works they are literally looking for each and every single detail in these deals and there is always a chance they would accept the offer and let them do an ETF, the problem is since it is a bitcoin related thing and not fiat related they are looking for reasons harder to decline these chance and considering these companies are new places and not huge enough places that could bribe their way into it they usually get declined.
That is why if one day a place like JP Morgan for example decides that they want to actually come up with an ETF that would be presented to SEC it will be accepted in first ever hearing, it would be accepted by first day but they would have to wait until the official day to sign it basically, so its not about SEC being against btc but more about SEC wanting a piece of the pie.
That is why if one day a place like JP Morgan for example decides that they want to actually come up with an ETF that would be presented to SEC it will be accepted in first ever hearing, it would be accepted by first day but they would have to wait until the official day to sign it basically, so its not about SEC being against btc but more about SEC wanting a piece of the pie.
August 14, 2019, 05:10:51 AM
Mark that date because this is the final extension. As mentioned in the article, on February 27, 2019 the SEC will need to make a decision if they approve or reject VanEck's proposal. What a terrible time to put bitcoin in a period of uncertainty.
What are your predictions, will the ETF be approved or rejected? I know my answer, but I reckon you would not like it. If the SEC really wanted to approve it, it would have been approved already.
Tom Lee waiting for the SEC's decision
The U.S. Securities and Exchange Commission (SEC) extended a rule change proposal allowing the nation’s first bitcoin exchange-traded fund (ETF), pushing the decision deadline to next year.
In a notice posted online, the securities regulator said it was extending the review period for the ETF to Feb. 27, 2019. The proposal was first submitted by money manager VanEck and blockchain startup SolidX, who partnered with the Cboe exchange earlier this year.
Under SEC rules, a decision on the proposal cannot be delayed any further, meaning the next notice must either approve or reject the ETF.
Read in full https://www.coindesk.com/sec-again-delays-decision-on-vaneck-solidx-bitcoin-etf
What are your predictions, will the ETF be approved or rejected? I know my answer, but I reckon you would not like it. If the SEC really wanted to approve it, it would have been approved already.
Tom Lee waiting for the SEC's decision
The U.S. Securities and Exchange Commission (SEC) extended a rule change proposal allowing the nation’s first bitcoin exchange-traded fund (ETF), pushing the decision deadline to next year.
In a notice posted online, the securities regulator said it was extending the review period for the ETF to Feb. 27, 2019. The proposal was first submitted by money manager VanEck and blockchain startup SolidX, who partnered with the Cboe exchange earlier this year.
Under SEC rules, a decision on the proposal cannot be delayed any further, meaning the next notice must either approve or reject the ETF.
Read in full https://www.coindesk.com/sec-again-delays-decision-on-vaneck-solidx-bitcoin-etf
well, no suprised they delayed ETF again, but why dont they just reject but keep delaying?? Personally, I dont want an approved ETF, an approved ETF will agaist all value of BTC
August 14, 2019, 05:04:17 AM
there seems to be something else in play here which makes SEC reject them. they need to find and fix that issue first.
I think we all know that the SEC can not independently make such a decision, they are waiting approval from some higher instance, and we all see what is the attitude of the most powerful people in the American political scene toward cryptocurrency. Some say Libra is good thing for BTC, but it shows just the opposite, they put all coins in one basket and they will deal with them in the same way.
I doubt that any fix can be made from companies that submit requests, they cannot eliminate volatility or force crypto exchanges to operate even more transparently, so it all comes down to politics in the end.
August 14, 2019, 12:34:43 AM
why does SEC even bother dedicating any time for these proposals anyways. they are going to reject all of them in the end, they have been doing it for a couple of years now without any exceptions. they just waste the time of their staff, these companies submitting ETFs and everyone else's time!
Why do you think they dedicating any time on any crypto related ETF? It's just a formality for them, and such proposals were rejected at the very moment of their submission. 240 days for something that can be done in 24 days is just ridiculous, proposal is same in Day 1 and in Day 240.
I would not agree that companies who submitting ETFs to SEC wasting their time, they need to make constant pressure on SEC to show that there is a lot of interest in something like Bitcoin ETF. Most experts say that we should see first crypto ETF in few years, so it can be 1 or 5 years from now.
well at the very least that is a lot of clerical work for accepting, documenting, reviewing and rejecting each and every proposal they receive.
as for the pressure, you might be right but it doesn't seem to affect US SEC whatsoever. this pressure has been on them for a couple of years now and that is while other countries already have approved some bitcoin ETFs. there seems to be something else in play here which makes SEC reject them. they need to find and fix that issue first.
August 13, 2019, 01:37:49 PM
Another delay. I reckon everyone does not care anymore and knows that bitcoin can Tom Lee itself to $25k without an ETF hehehe.
In any case, mark the dates mentioned in the article and expect another delay.
The U.S. Securities and Exchange Commission (SEC) delayed making a decision on three bitcoin exchange-traded fund (ETF) proposals Monday.
The ETFs, proposed earlier this year by asset managers Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix, and filed with exchanges NYSE Arca and Cboe BZX, are all seeking to become the first such investment vehicle based on bitcoin.
The filings were published in the Federal Register in February and June, kicking off the legally-mandated 240-day clock on a final decision.
Final decisions on the Bitwise and VanEck/SolidX proposals are expected by Oct. 13 and Oct. 18, respectively.
The next decision on the Wilshire Phoenix proposal is scheduled to occur by Sept. 29.
Read in full https://www.coindesk.com/sec-delays-decisions-on-3-bitcoin-etf-proposals-until-autumn
In any case, mark the dates mentioned in the article and expect another delay.
The U.S. Securities and Exchange Commission (SEC) delayed making a decision on three bitcoin exchange-traded fund (ETF) proposals Monday.
The ETFs, proposed earlier this year by asset managers Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix, and filed with exchanges NYSE Arca and Cboe BZX, are all seeking to become the first such investment vehicle based on bitcoin.
The filings were published in the Federal Register in February and June, kicking off the legally-mandated 240-day clock on a final decision.
Final decisions on the Bitwise and VanEck/SolidX proposals are expected by Oct. 13 and Oct. 18, respectively.
The next decision on the Wilshire Phoenix proposal is scheduled to occur by Sept. 29.
Read in full https://www.coindesk.com/sec-delays-decisions-on-3-bitcoin-etf-proposals-until-autumn
It seems SEC are really analyzing stuffs. Analyzing how they can fully take advantage of these ETF. I think until they realized how to fully take advantage of these ETF's they will keep on delaying these stuff. I wouldn't keep my hopes on those dates, I am still expecting another delay when the due date comes.
August 13, 2019, 08:41:06 AM
-snip-
@bbc.reporter I could not help but notice you’re smitten by Tom Lee lol, but coming to Sec I had forgotten about their decision as each time there’s either a delay or a rejection. Another set of dates and again Sec will delay the application why doesn’t it simply puts up a notice, stating they’ll not be approving Bitcoin ETFs kindly do not submit any applications regarding it. I don’t expect the market to be effected by this decision, but what do you’ll think will prices remain neutral or will it tank?.
August 13, 2019, 08:27:57 AM
Another delay. I reckon everyone does not care anymore and knows that bitcoin can Tom Lee itself to $25k without an ETF hehehe.
In any case, mark the dates mentioned in the article and expect another delay.
The U.S. Securities and Exchange Commission (SEC) delayed making a decision on three bitcoin exchange-traded fund (ETF) proposals Monday.
The ETFs, proposed earlier this year by asset managers Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix, and filed with exchanges NYSE Arca and Cboe BZX, are all seeking to become the first such investment vehicle based on bitcoin.
The filings were published in the Federal Register in February and June, kicking off the legally-mandated 240-day clock on a final decision.
Final decisions on the Bitwise and VanEck/SolidX proposals are expected by Oct. 13 and Oct. 18, respectively.
The next decision on the Wilshire Phoenix proposal is scheduled to occur by Sept. 29.
Read in full https://www.coindesk.com/sec-delays-decisions-on-3-bitcoin-etf-proposals-until-autumn
In any case, mark the dates mentioned in the article and expect another delay.
The U.S. Securities and Exchange Commission (SEC) delayed making a decision on three bitcoin exchange-traded fund (ETF) proposals Monday.
The ETFs, proposed earlier this year by asset managers Bitwise Asset Management, VanEck/SolidX and Wilshire Phoenix, and filed with exchanges NYSE Arca and Cboe BZX, are all seeking to become the first such investment vehicle based on bitcoin.
The filings were published in the Federal Register in February and June, kicking off the legally-mandated 240-day clock on a final decision.
Final decisions on the Bitwise and VanEck/SolidX proposals are expected by Oct. 13 and Oct. 18, respectively.
The next decision on the Wilshire Phoenix proposal is scheduled to occur by Sept. 29.
Read in full https://www.coindesk.com/sec-delays-decisions-on-3-bitcoin-etf-proposals-until-autumn
@bbc.reporter I could not help but notice you’re smitten by Tom Lee lol, but coming to Sec I had forgotten about their decision as each time there’s either a delay or a rejection. Another set of dates and again Sec will delay the application why doesn’t it simply puts up a notice, stating they’ll not be approving Bitcoin ETFs kindly do not submit any applications regarding it. I don’t expect the market to be effected by this decision, but what do you’ll think will prices remain neutral or will it tank?.
August 13, 2019, 07:40:40 AM
Another delay. I reckon everyone does not care anymore and knows that bitcoin can Tom Lee itself to $25k without an ETF hehehe.
In any case, mark the dates mentioned in the article and expect another delay.
There was a time when the market would become active when the hearing date was nearing but now no one really cares whether they accept ETF or not as the SEC is dragging this for a very long time and everyone will loose interest if that happens and that is what we are seeing here, the final decision on the Bitwise is expected by October 13 and SolidX is expected by October 18. In any case, mark the dates mentioned in the article and expect another delay.
August 13, 2019, 05:12:48 AM
why does SEC even bother dedicating any time for these proposals anyways. they are going to reject all of them in the end, they have been doing it for a couple of years now without any exceptions. they just waste the time of their staff, these companies submitting ETFs and everyone else's time!
Why do you think they dedicating any time on any crypto related ETF? It's just a formality for them, and such proposals were rejected at the very moment of their submission. 240 days for something that can be done in 24 days is just ridiculous, proposal is same in Day 1 and in Day 240.
I would not agree that companies who submitting ETFs to SEC wasting their time, they need to make constant pressure on SEC to show that there is a lot of interest in something like Bitcoin ETF. Most experts say that we should see first crypto ETF in few years, so it can be 1 or 5 years from now.
August 13, 2019, 12:41:30 AM
It seems like people are not paying attention to this anymore as I am not seeing an effect on the market, in the past, this news should have an effect but now it's just an ordinary one and people already understands that SEC could delay it again.
Maybe if they'll start approving some application we might see some good results to the market but I already like how people think now as they are not consider a delay of disapproval of SEC decision a FUD factor.
Maybe if they'll start approving some application we might see some good results to the market but I already like how people think now as they are not consider a delay of disapproval of SEC decision a FUD factor.
August 13, 2019, 12:00:57 AM
why does SEC even bother dedicating any time for these proposals anyways. they are going to reject all of them in the end, they have been doing it for a couple of years now without any exceptions. they just waste the time of their staff, these companies submitting ETFs and everyone else's time!
The so called 'we are doing our job" paradigm. But we all know that they are not going to approved any ETF for that matter and just giving everyone some sense of false hope here. I'm only in the majority here that no matter what, approval will not come so we better accept that fact.I'm not surprised by delay, on the contrary the hype has died down so personally I'm not bothered by this news. We need to move on and not just wait for this so called approval, we have seen bitcoin making a good run without this news so we are all good by now.
Correct, there is no hype already, people who touted that this could bring a positive effect on the market doesn't think it that way anymore as the price breaks the five digit barrier and we could reach all time high soon without this so called ETF's. Jump to: