SEC Publishes VanEck’s Bitcoin ETF Application, Kicking Off Decision Clock

Harlot

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Quote from: shahzadafzal on March 18, 2021, 06:45:18 AM

Well to be honest if it gets approved we will definitely see a a big pump, but if it gets rejected or SEC extends the review period, I don't think there will be a any major drop.
There are bigger players involved now they can't deny the Bitcoin is the payment method of the future. Bitcoin is inevitable and we are moving forward only.

The news about the Bitcoin ETF is being played out for years now that for me it makes me think that it is too saturated that the people in the market are tired of hearing about it thus it won't really trigger any FOMO event IMO. People right now are used to seeing news about denied applications and/or extensions that they just shifted their news elsewhere, also when the news about Canada having the first Bitcoin ETF it didn't really excited anyone at all nor the market showed any price action during that day. I guess it will be the same thing when the SEC approves the Bitcoin ETF and it won't really give any hype anymore not unless the ETF itself will translate to direct demand for Bitcoin it won't affect the prices other than that.

hugeblack

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Quote from: MatchPS on March 18, 2021, 04:40:02 AM

So what do you think. Will it get finally approved or yet again denied?

It will be rejected again. There is some acceptance from companies, but I think the market capacity is still very small. I had heard before that we need to reach 2 trillion before there is serious approval.
Bitcoin has become a currency that has enough confidence to attract some of the heads of money, and the price may change dramatically in 2022 and the years that follow, but I don't think we got enough support to convince SEC .

DeathAngel

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I think they will delay it a couple of times & then reject it which is what has happened every time so far.
Hopefully they approve it but I am doubtful.

Lucius

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Quote from: Dave1 on March 18, 2021, 07:21:31 AM

Let's look at the odds, we haven't seen any approved Bitcoin ETF yet right?

Not in the US, but recently the BTC ETF was approved in Canada, and as far as I remember they were approved in some other countries as well. Here we are talking about an ETF that could be approved in the US, which will certainly attract a lot of money, because after all, it is the country with the largest crypto exchange, the largest crypto ATM network and the largest crypto fund.

Quote from: Dave1 on March 18, 2021, 07:21:31 AM

So most likely it will be denied again, sorry to burst the bubble for you. Regardless of who are going to sit on SEC, I highly doubt that any ETF will be approved in the foreseeable future, in my opinion.

Ignoring can't last forever, and the people who work there are still just human beings - it's all a matter of interest and lobbying for a certain thing, and that's certainly not lacking in the US. I'm not saying that we need such a fund, but it's a natural course of things, whether someone likes it or not.

Baofeng

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Quote from: GreatArkansas on March 18, 2021, 07:21:37 AM

Quote from: shahzadafzal on March 18, 2021, 06:45:18 AM

Quote from: MatchPS on March 18, 2021, 04:40:02 AM

So what do you think. Will it get finally approved or yet again denied?

Well to be honest if it gets approved we will definitely see a a big pump, but if it gets rejected or SEC extends the review period, I don't think there will be a any major drop.
(.....)

If this will get rejected, it will just become normal. Over the past years, we saw multiple rejections from SEC for some Bitcoin ETF applications and people started to treat it normally compare to the beginning of Bitcoin ETFs, where this is a kinda a big deal for everyone and it became a FUD for some people.

Yeah, I still vividly remember early in 2017's Winklevoss ETF's application, it was the catalyst to push bitcoin to 4 digits, @1k, but it was soon rejected, the price goes down because of that news and others ride it along to create FUD.

But bitcoin's narrative throughout the years have change, maybe we will eventually get an approval and the recognition for SEC and it's going to be the next catalyst for 6 digits price perhaps?

GreatArkansas

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Quote from: shahzadafzal on March 18, 2021, 06:45:18 AM

Quote from: MatchPS on March 18, 2021, 04:40:02 AM

So what do you think. Will it get finally approved or yet again denied?

Well to be honest if it gets approved we will definitely see a a big pump, but if it gets rejected or SEC extends the review period, I don't think there will be a any major drop.
(.....)

If this will get rejected, it will just become normal. Over the past years, we saw multiple rejections from SEC for some Bitcoin ETF applications and people started to treat it normally compare to the beginning of Bitcoin ETFs, where this is a kinda a big deal for everyone and it became a FUD for some people.

Dave1

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Quote from: MatchPS on March 18, 2021, 04:40:02 AM

So what do you think. Will it get finally approved or yet again denied?

Let's look at the odds, we haven't seen any approved Bitcoin ETF yet right?

So most likely it will be denied again, sorry to burst the bubble for you. Regardless of who are going to sit on SEC, I highly doubt that any ETF will be approved in the foreseeable future, in my opinion.

Coin_trader

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Quote from: MatchPS on March 18, 2021, 04:40:02 AM

So what do you think. Will it get finally approved or yet again denied?

You can't get a concrete answer but as Lucius said above, Sooner or later, SEC will eventually approve this ETF because Bitcoin market is growing and regulating it in the form of ETF will be in there advantage rather than leaving at as is..

Lucius

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Only those who work in the SEC know that, but the chances for a positive outcome are now certainly higher than it was 3-4 years ago. The fact that we have global players like PayPal and Tesla, and companies like Grayscale or MicroStrategy that have invested billions of dollars in crypto, may be an advantage that will decide that such a fund be approved. Canada and some other countries as we can see have no problem with such approvals.

What is certain is that the decision on this particular request can be extended to a maximum of 240 days, which means that the final decision can only be announced at the end of the year. The question is not whether it will happen, but when it will happen Wink

shahzadafzal

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Quote from: MatchPS on March 18, 2021, 04:40:02 AM

So what do you think. Will it get finally approved or yet again denied?

Well to be honest if it gets approved we will definitely see a a big pump, but if it gets rejected or SEC extends the review period, I don't think there will be a any major drop.
There are bigger players involved now they can't deny the Bitcoin is the payment method of the future. Bitcoin is inevitable and we are moving forward only.

MatchPS

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So what do you think. Will it get finally approved or yet again denied?

Topic: SEC Publishes VanEck’s Bitcoin ETF Application, Kicking Off Decision Clock (Read 137 times)