SEC delays decision on ETF again, Vaneck, SolidX withdraw proposal - page 6.

24Kt

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Quote from: bitbunnny on December 07, 2018, 04:45:54 AM

I don't know why so many delays for this decision.
On the other hand I don't think that because of that we have such situation on the market and panic selling, this is not connected.
People are expecting too much of ETF thinking this would bring some extraordinary effects but I don't think that something revolutionary will happen. And market is definetely not reacting to ETF connected news anymore.

Maybe they feel very important in crypto community why they keep on delaying. It is as if everyone is looking forward on that decision though. Grin

Crypto life will go on without them. I guess.

ThankThake

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Quote from: Siren on December 09, 2018, 04:29:09 AM

I am thinking that how many cryptonians are still waiting for this ETF decisions?

Because for me i would rather say WTF than that ETF that always keeping the delays in giving decisions,and sometime i come to the idea that this will never really happen,and we are just being lured to believe but reality will never come.hope i am wrong but thats how i look in this area

We do not have to disappoint because in the coming month we will see ICE exchange starting the Bitcoin futures which will give a more stability to the market and this is what the SEC needed to approve the ETF. So it is inevitable for the SEC to approve ETF.

b3j0

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there is something strange here, they have postponed this problem for quite a long time. I still don't understand what they really want, this is the last time they delay an ETF.

WatchMaker

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SEC is playing politics. Bitcoin ETF was supposed to be approved months ago but SEC is not ready for that. Now, only God knows when bitcoin ETF is going to be approved. Let's hope it will be approved in the coming year 2019.

bbc.reporter

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@gentlemand. However, there is also no reason why they should slow it down if they have too much on their plate. To which I reckon they don't. They can always declare that some ICOs are securities but enforcing that rule is the problem because they are corrupt.

in any case, rejection is my original prediction.

gentlemand

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Quote from: bbc.reporter on December 09, 2018, 08:09:14 PM

However, @rickadone has made a good argument on why the delay is more towards the approval of an ETF than a rejection. If the SEC wanted to reject it, would it take them this long to analyze the situation? I reckon, no.

There's no reason for them to speed it up. They have plenty more on their plate with hammering ICOs alone so they may as well take their time. They may also intend to learn a little more too. They've made repeated requests for opinions on the matter, not that it attracted much more than psychos and brain dead moon kids.

And once again this guy is on the money - https://twitter.com/jchervinsky/status/1072216015801585664

It's not looking promising, not that anyone should've expected anything else.

bbc.reporter

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Quote from: DeathAngel on December 09, 2018, 10:57:06 AM

There ain’t going to be a Bitcoin ETF any time soon. The market doesn’t give a shit any more. The recent dumping is because of the BCH fork fight & all the shit that’s going on with those assholes selling bitcoin to prop up their shitcoin’s.

Bitcoin doesn’t need an ETF & we’re unlikely to get one approved for at least a couple of years imo.

However, @rickadone has made a good argument on why the delay is more towards the approval of an ETF than a rejection. If the SEC wanted to reject it, would it take them this long to analyze the situation? I reckon, no.

thecodebear

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Quote from: rickadone on December 09, 2018, 10:14:40 AM

Quote from: bbc.reporter on December 06, 2018, 08:39:45 PM

Read in full https://www.coindesk.com/sec-again-delays-decision-on-vaneck-solidx-bitcoin-etf

I am not too sure if this is a bad thing or not. I know prices got affected by this but in reality maybe they couldn't find a reason to reject it and wanted to postpone it to take a look at it again to find any mistakes or problems with it ? I mean think about it don't you think if they had a cause to reject it they would postpone it, if they were going to reject it and had a reason to do so they would just reject it right away without taking extra time for it.

Since, they postponed it that has to mean they couldn't find a reason to reject it and trying to look for it. Not that SEC wants to reject it but it is clear that rejecting something is easy but accepting it takes time since it could mean bad things if they accept something bad hence they need to be really careful. That is why I think this delay is great for us and shows promise of getting accepted.

Yeah I agree, while I'm not expecting it to get approved in February, the fact that they've delayed it half a year now suggests they really don't know what to do and think acceptance is a possibility. I think they are waiting for BAKKT to open as having a Wall St regulated exchange seems to be what they are looking for in terms of eventually accepting an ETF. But I think it'll take a while longer until they finally decide to accept it. But I could see it happening in 2019.

cellard

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These freaking gamblers will get their fingers stuck when ETF+BAKKT start buying BTC at whatever prices to meet contract ends. The short squeeze will be epic. Look at the amount of shorts right now, we are over leveraged, shorts are getting out of hand, once big pockets can easily buy Bitcoin it's going to be one big clusterfuck of shorts going down and a big green candle going up.

DeathAngel

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There ain’t going to be a Bitcoin ETF any time soon. The market doesn’t give a shit any more. The recent dumping is because of the BCH fork fight & all the shit that’s going on with those assholes selling bitcoin to prop up their shitcoin’s.

Bitcoin doesn’t need an ETF & we’re unlikely to get one approved for at least a couple of years imo.

rickadone

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Quote from: bbc.reporter on December 06, 2018, 08:39:45 PM

Read in full https://www.coindesk.com/sec-again-delays-decision-on-vaneck-solidx-bitcoin-etf

I am not too sure if this is a bad thing or not. I know prices got affected by this but in reality maybe they couldn't find a reason to reject it and wanted to postpone it to take a look at it again to find any mistakes or problems with it ? I mean think about it don't you think if they had a cause to reject it they would postpone it, if they were going to reject it and had a reason to do so they would just reject it right away without taking extra time for it.

Since, they postponed it that has to mean they couldn't find a reason to reject it and trying to look for it. Not that SEC wants to reject it but it is clear that rejecting something is easy but accepting it takes time since it could mean bad things if they accept something bad hence they need to be really careful. That is why I think this delay is great for us and shows promise of getting accepted.

Siren

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I am thinking that how many cryptonians are still waiting for this ETF decisions?

Because for me i would rather say WTF than that ETF that always keeping the delays in giving decisions,and sometime i come to the idea that this will never really happen,and we are just being lured to believe but reality will never come.hope i am wrong but thats how i look in this area

magneto

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Quote

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.

I honestly think that there is a relatively low chance that any bitcoin related ETFs would be able to be approved in the near future. There is a slight chance, but it's slim to none. Otherwise the SEC would not have rejected all the previous applications and kept postponing their decisions.

I'll pretty much continue to accumulate during this bear market without regard for this news, because I don't think that even if ETFs do get approved, there will be any longer term impacts that is able to be established into the market. People say that they are buying in anticipation of an approval, but I'm not expecting that.

Even if it does get approved, all there will be is a short term spike in prices due to the hype generated. There is nothing more than that - ETFs do not help actual bitcoin users that conduct on-chain transactions one single bit.

exstasie

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Quote from: The Sceptical Chymist on December 08, 2018, 04:51:44 PM

Quote from: gentlemand on December 06, 2018, 08:42:25 PM

100% rejected. It won't happen for years.

I wouldn't be so sure about that, but it'll at least be interesting once February comes and they have to make a decision one way or another. Part of me thinks you're right, but this is the US government we're talking about and they're not globally famous for being consistent, fair, or even smart.

Come to think of it, I'm pretty eager to hear their final decision in February because of the timing. How a market reacts to news can tell a lot about sentiment (i.e. whether you're still in a bear market or not). My thinking has been this leg down is a final capitulation bottom, similar to January 2015, so I'm looking for a bottom between now and early Q1 next year.

I'm definitely expecting rejection though, just going by the chairman's stated position and the Winklevoss decision (which heavily focused on market manipulation). There was just an article last month about how the DOJ has joined the CFTC in investigating Bitfinex and Tether for market manipulation. As long as that's ongoing (or perhaps as long as they're still standing), there will be no approval. I also don't think Bitfinex and Tether are the only actors they're concerned about.

figmentofmyass

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Quote from: talkbitcoin on December 07, 2018, 05:15:11 AM

is there anybody left who is actually waiting for SEC's decision about ETFs? i seriously doubt that. people have been burnt by SEC enough times that they already know that the approval is not going to happen or at least the chances of it are so minuscule that they don't matter at all.

sadly, i've noticed there are still people hopeful about SEC approval. the narrative changed from "there are so many ETF applications, which one is gonna get approved?" to "vaneck/solidx was the only one that matters anyway because it's physically backed!"

i don't think traders are "buying the rumor" anymore, but they might have used this as an excuse to sell.

Xardasim

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Firstly the last extension is the good news. I doubt that the decision will be positive I can not imagine being accepted anyway.
Acceptance may be within the limits. So if the limits are used to counteract the volatility of the price why not?
The situation is too complicated and in my opinion we are closer to the negative decision.

The Sceptical Chymist

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Quote from: gentlemand on December 06, 2018, 08:42:25 PM

100% rejected. It won't happen for years.

I wouldn't be so sure about that, but it'll at least be interesting once February comes and they have to make a decision one way or another. Part of me thinks you're right, but this is the US government we're talking about and they're not globally famous for being consistent, fair, or even smart.

Not to stray off-topic, but OP can you please not insert those completely unnecessary pictures into your posts? This is a discussion forum and you're not writing articles for news sites when you post here. The picture above adds absolutely nothing to your post and there's always the risk that idiots will reply to the OP and quote the whole thing, including the picture. Just stop doing that, please.

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Quote from: cindygirl on December 07, 2018, 10:11:53 AM

Quote from: bbc.reporter on December 06, 2018, 08:39:45 PM

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.

If the SEC really had big issues with it and wanted to reject it they'd have done it already, instead of wasting time and resources prolonging the inevitable. I think the truth is that they've not yet decided. Hopefully they come down on the positive side but I think all the price turmoil lately might be contributing to the uncertainty.

I have a strong feeling that they would not approve it but my real question is that why and what is their main reason why they have to prolong this. If they have a problem with ETF why just they don't tell it already so that there is no waiting game. I don't think so if they would really come down on the positive side of approving it.

exstasie

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Quote from: TheAndy500 on December 07, 2018, 10:27:48 AM

I'm starting to believe that they are doing it on purpose to manipulate the price. Maybe someone of a high rank already knows that the decision will be positive and wants to buy more cheap bitcoins?!? I do not think that their bureaucracy is so huge that it would pass this decision forever!

Based on what Clayton and the other commissioners (besides Hester M. Peirce) have said, I doubt a positive decision is coming. Nothing about the market and exchange infrastructure has changed since they rejected the Winklevoss ETF. If the market was prone to fraudulent and manipulative practices then, it still is now. Speaking of which, the DOJ and CFTC are in the middle of an investigation into Bitfinex and Tether for market manipulation.....

gentlemand

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Quote from: TheAndy500 on December 07, 2018, 10:27:48 AM

I'm starting to believe that they are doing it on purpose to manipulate the price. Maybe someone of a high rank already knows that the decision will be positive and wants to buy more cheap bitcoins?!? I do not think that their bureaucracy is so huge that it would pass this decision forever!

I don't think they give a shit about crypto and probably wish it had never darkened their door. It's taking up large amounts of their time and they at least know it's a total waste. The main man is now overtly stating that it's not going to happen with markets this shitty and every previous decision has made the same point.

Topic: SEC delays decision on ETF again, Vaneck, SolidX withdraw proposal - page 6. (Read 1534 times)