Topic: US SEC Delays Decision on Direxion Bitcoin ETF Until September - page 2. (Read 1308 times)
I don't know why they are taking much time. They should give a clear decision on it soon. Because i think this decision going to cause changes in Bitcoin price.
We'd all still be keeping out coins this is what will happen and the market goes on. Bitcoin will stay and nothing stops this train and I'm sure they'd figure this up by now so I might expect it to be approved though. Its long been discussed too. If ETF will be approved, I think the price may not really go that high like how it did happen last year.
It will be really great If SEC approves BTC ETF. There will be more investments which will create impact on the price of bitcoin as well as other alt coins.
Probably this was the cause of actual dip.
Indeed I didn't explain why this new bearish phase after last negative months.
Indeed I didn't explain why this new bearish phase after last negative months.
SEC has again delayed their decision regarding Bitcoin ETF. Hopefully, they will take into account the recent public reaction where 97% of the people voted for bitcoin ETF to gets approved by the SEC. If Direxion has proposed a well formulated structure which is fraud proof and sustainable then ETF is very likely to get approved.
in a perfect world that might have been right.
but I am starting to think that SEC may not want to approve anything bitcoin related at all. and that may even be for the best. people have to realize that we don't need SEC's approval of bitcoin to succeed. the real success is when they reject bitcoin and bitcoin grows.
so far in the past month or so they have caused a lot of fluctuations in the market which wouldn't have existed otherwise. we could have seen $9k by now if there were no ETF proposals.
To be honest, I expected this to happen because I watched videos on youtube regarding this and they all say that it will be delayed. Now the sudden pump of bitcoin in the last few days is because of the Bitcoin ETF. Many expected that it will be approved this month and they bought Bitcoin hoping that it will pump more (buy the rumor). My opinion is, lets just hold bitcoin until the SEC gives the decision.
SEC has again delayed their decision regarding Bitcoin ETF. Hopefully, they will take into account the recent public reaction where 97% of the people voted for bitcoin ETF to gets approved by the SEC. If Direxion has proposed a well formulated structure which is fraud proof and sustainable then ETF is very likely to get approved.
We don't know much about what's going on within the SEC, or whether they really are reconsidering on approving the ETF. I just hope that they really take public opinion into consideration on their deciding pricess. A month seems to be a long time already for the deciding process, and by then people can overspeculate and hype the shit out of the market. Whatever the results are for the ETFs lined up, it will be a huge deciding factor on where the market will go in the coming months.
There was a massive public response who were in support of Bitcoin ETF when SEC asked for their opinion. This incident might have forced them to delay the actual decision. I hope, the framework for the proposition is flawless so that SEC has no other option available than accepting it.
The delay is actually good for the community. In this time of speculation BTC will see a increase in demand and more public support. Hopefully, Direxion firm has presented a functional and foolproof model of ETF, then the chances of it getting accepted will go higher.
it seems like they are delaying their decision making as much as they can in a way so that there is at least 1 ETF for rejection per month and at that rate they may be hoping to keep the bitcoin price down with their decisions!
i wonder how long would it take before people wake up and start talking about how pointless it is to wait for SEC to approve something that doesn't need their approval!
i wonder how long would it take before people wake up and start talking about how pointless it is to wait for SEC to approve something that doesn't need their approval!
The delay indirectly is good. In between the time of specualtion BTC will see a increase in demand and gain public support. Chances of it getting approved in ETF will get higher.
This is good. It gives us time to raise more funds to invest more, before the next run to another record high. Just a speed bump. 
It’s will take time that’s no matter I think. That’s the matter early or lately the approved Bitcoin etf’s and these should be effect good one bitcoin obviously.
There is a possibility of SEC approving the Bitcoin-only ETF in the next 18 months. It is not likely that an order approving or disapproving the proposed rule will take effect on September 21
I think it’s a very important decision for SES. It can impact over the whole world. The bitcoin investor, normal people all waiting for this decision. It will change the whole digital currency world. If it approved the price o bitcoin increase also many people want to invest on this sector. I think because of this they take time.
The delay is a good thing. That way, they will have time to further solidify their case and present it as a stronger one. But what the end result will be is still unpredictable. Let us be optimistic about it.
It's hard to be optimistic at this point though, as both of the Winklevii ETF proposals have been rejected. It's good that the SEC commissioner is pro ETF, but it is difficult to think that this delay is a good thing. If I recall, the initial Winklevoss ETF proposal was delayed several times before the SEC finally rejected it. most of these ETFs will be rejected.
Eventually though... There will be an ETF that is approved, and when there is, expect the pump of a lifetime IMO. This will likely happen by 2020 at least. Fact of the matter is, the Bitcoin market is plenty more regulated than what it was several years back. This regulation will increase (KYC for example) as time goes on as well. The SEC will soon no longer be able to use the "lack of regulation" excuse. Starting to think they are afraid of Bitcoin because its a sign of decentralization taking hold.
there were more reasons for rejecting Winklewoss ETF than just lack of regulations. I don't think that was even mentioned although I don't really follow it since it doesn't matter to me that much. I read that one of the main reasons was the fact that they were fully relying on the price of bitcoin from their own exchange and nowhere else but other ETFs are using an average of multiple big exchanges to get the bitcoin price.
I also don't expect a big "pump of a lifetime" from ETF. it is mostly hyped up and that hype is actually preventing the real rise from happening because everyone is waiting for the ETF decision to invest. they fear a rejection can drop the price so they are waiting for that drop to buy cheaper coins or see the rise and then buy missing a chance.
Maybe this decision of the SEC will postpone the bullish trend until September. On the other hand, it may be good if you compare the price chart for gold after the introduction of ETF.
Why would this decision be any different to the Winklevoss twins outcome? The main gripe with Bitcoin ETFs according to them, is the threat of manipulation and I cannot see why this has changed? I think this delay in the decision does not bode well for these applications, because an extension gives them time to prepare for a denial of the application and to properly motivate why they denied it. ^grrrrrr^
The SEC is just buying time to give silly excuses for their denial of these ETFs.
The SEC is just buying time to give silly excuses for their denial of these ETFs.
From my point of view it’s very hard to take decision within very short time. It a vital decision for every one. The popularity of digital currency is increasing also lot of people feel interest to invest here. So SEC took time to make a perfect decision about it. I think it will be approved.
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