Topic: When do you think Bitcoin ETF will be approved? - page 2. (Read 572 times)

$30 trillion being shifted towards BTC? Did he mention a time frame for that? This could mean anything if someone throws out a number without saying what time frame they are talking about. Long term I think it will be a lot, but I realize when I say long term that even this time frame is hard to estimate. I guess so far I have been wrong more often than not, but $30 is rather 10 years away than 3 years away would be my guess. $30 trillion is more than double the market cap of gold and while I believe that a lot of institutional investors understand that BTC should be part of their portfolio, we are still talking about a portfolio. It is not like everyone will sell their gold and switch to BTC.

To come up with some numbers here, the global wealth was around $454 trillion in 2022. I don't know what the breakdown is in terms of real estate, cash and cash equivalents, etc. I found some info that real estate is about half of global wealth.

But in order for $30 trillion to go into BTC, that means over 6.5% of global wealth would be put into BTC. I doubt that this is going to happen overnight I believe that BTC will become a very powerful asset class, but it still means that people have to give up on one class in order to shift their wealth into BTC (they can of course produce more wealth overall and use that). For the sake of diversification, most actors will try to strike a balance they deem reasonable.

I can't say categorically if the big whales will take advantage of this news and start buying but who knows? We all know the price went up upon news of an ETF approval and since the aim of every Bitcoin investor is to make profit, maybe they will use every window available to do so.

Well I did at first think it was going to happen before the end of this year. Grayscale is first with the final deadline of January 1. But CEO Michael Sonnenshein is asking the sec to approve all the Bitcoin ETFs at the same time.

He does think we will see $30 Trillion come into the Bitcoin marketcap once this does happen. https://beincrypto.com/grayscale-sec-ceo-approve-all-once/

Indeed, the Bitcoin ETF drama with Blackrock is lengthy and costly. Dont we see a balance between innovation and regulation? The SEC's alertness isnt shocking; they protect investors in a fast-changing market. Dont lose sight of the overall picture. Bitcoin's journey has never depended on ETF approvals. Its resilience and expansion surprised predictions, right?

Maybe we should focus on the broader consequences of this development. Bitcoin ETF approval might change institutional acceptance, opening avenues for mainstream investors. Bitcoin thrives without it. It proves its value and the crypto ecosystem's strength. We shape the digital asset story as active players.

Remember that regulatory impediments are temporary, but Bitcoin's disruptive potential is permanent. With or without an ETF, we're revolutionizing finance. This complicated trip is ours to conquer.

According to what is being heard, BlackRock is getting positive signals regarding the adoption of Bitcoin ETF. Grayscale an emergency meeting with the SEC again is also hearing . On the other hand, China, which was against cryptocurrency, is now leaning towards Bitcoin. So there may be some good news in next 24 hours or 72 hours. Maybe some good news can be presented on December 25, which is Christmas Day.

However, it is at the discretion of the US Securities and Exchange Commission when they do so. However, there are rumors circulating in the market and by looking at the price of Bitcoin, it can be guessed that people are shifting investments to Bitcoin. So people investing in Bitcoin is also an indication that ETF approval is near.

I think it's an announcement of a decision, and the results may not be approved yet. There's still a possibility of rejection because, as of now, I'm not sure about approval in the near future. It's not about underestimating Bitcoin, but considering how crucial ETF is and the fact that Bitcoin regulations haven't reached perfection globally, it makes me think that Bitcoin needs more time to be fully ready for the ETF.

However, if a decision is delayed, the market will become more volatile, and speculators will increasingly use ETF and SEC news as their speculative material.

It seems that in times like this, those of us who are waiting and expecting the approval they will get in Blackrock and Grayscale should hold our breath. When this happens, most of the community holders will see who will have the light for their crypto holdings, be it bitcoin or cryptocurrency.

So for sure, this main event of January 10 is just coming next year. There will be a massive spike in the price value of Bitcoin and other cryptocurrency assets in the market as well.

Or maybe bitcoin holders and investors does not care for now? because we have seen expectation how many years ago but does not materialized and ended to wrong expectation so I will just let the approval happen but these days I will focus in my investment additions so to be ready in what will happen in after halving season .
So Influencer is more powerful than ETF to bring  good impact to the market prices ? I may consider this as an option at least but will assume ETF brings more growth in our market in the coming years.

No it won't  be approved before the end of December as this was delayed earlier and there wand ere rumours that it would happen during the month of March or April and then we have latest that it would happen with within first 10 days of January. I think we have to wait for further official announcement but till now but people have been hopeful on spot ETF to bring more goodness to value of Bitcoin.

It would mostly get approved but not sure about the date as it depends on various aspects and it may be delayed further as well.

Bitcoin ETF thing is way down the line and nothing is happening right now. If you really want the perfect details on it, Blackrock applied, a few things were found missing, they were sent back, so right now Blackrock is handling paperwork to fill the parts that SEC thought were missing. There isn't even a reapplying yet, so they are still working on it, considering these paperworks take months, we can say that the next reapply would be either spring or early summer at the very earliest, and the response should end of next year instead. So, it is not going to be all that easy and we are not going to hear about it anytime soon.

Plus, we do not really need ETF to make anything work, we do not need to really end up making anything crazy, we just need to let the crypto world handle it. I get that we all want that to happen, but we have seen this situation to be fine without ETF and it still got up, that should be something that would be profitable for us in the end anyway.

Since 2019, we have only had one approval (Purpose Bitcoin ETF (Canada)) and it has been described as one of the softer ETFs. As for this ETF, I am not confident either because I don't see the approval as having a meaningful impact on the market as a whole. It is just part of the story and narrative that comes every bull market year, as far as I'm concerned. Elon Musk was an important market influencer in the last bull market, so I want to follow the new market influencers

Based on this article: LINK
Although no specific company has been named in that article, we have an idea of when they will accept the possible first spot Bitcoin ETF. Many prominent companies have filed for a Spot Bitcoin ETF. Companies like Blackrock, Fidelity, VanEck, Bitwise, Fidelity, etc. Of course, I don't want to rely on that information alone, but my safest date on when the SEC will approve a spot Bitcoin ETF would be February of next year.

I read somewhere that days ago BlackRock and the SEC got into a meeting to particularly discuss the BTC-ETF so we can say that this is truly coming and it is just a matter of time. However, I don't think it can come within this year as people are already so busy with the holidays so SEC may defer everything to January of 2024. What we can see is that there is a big possibility for its approval within the 1st quarter of 2024...if things can go smoothly on both side of BlackRock and SEC. The other thing I am looking forward in 2024 is the approval of the other ETF filings in SEC...will that be possible or should we wait for years before there can be another one?

It seems that one step forward and two steps back. The point is that this news will have its impact on bitcoin and its news relevance may be a matter of minutes. I don't know if anyone commented on it but I'll leave the source here anyway:

^{https://www.nasdaq.com/articles/fox-business:-firms-feel-confident-sec-will-approve-spot-bitcoin-etfs-after-january-8}

Another date that is added to the list, above (qoute) but if you don't want to stay a couple of minutes without finding out, set an alert:
https://support.google.com/websearch/answer/4815696?hl=en   

Yes well said, the effect has already occurred as this was going back and forth so often now that people don't really care. The fact alone that it was up for discussion for such a long time and that the size of the players involved got bigger and bigger, was fact enough for investors to price in the approval that will happen at some point in time in the future. I guess when the "go" is given by authorities, there might still be a minor effect, but it won't end in an unprecedented push for the BTC price.

While the approval or the denial of a bitcoin ETF should not change our approach to the markets, it is also undeniable there are a lot of people out there that care about it, as the recent growth in the price of bitcoin can be attributed in part to the belief that an ETF will be approved soon, and if it happens then I would expect for more ETFs to be approved and this could give a serious boost to the price, especially when combined with the halving since it could allow us to reach a new ATH way sooner than expected.

We will know their decision by January 8, not after. At least, that is what it's scheduled to happen. Now if they approve or not is still a mistery. Nobody on news articles dares to predict what they are going to decide. Anyway, I think Bitcoin investors and enthusiasts shouldn't put all their expectations and hopes on it, because it means to give too much power and influence to a single centralized entity, just like crypto investors did in the past with Elon Musk and his temporary support to Bitcoin, which ended in disaster some time later, as soon as he launched an offensive against the digital currency.

If investors are faithful in an ETF approval, consequently they decrease their faith in BTC itself, making the ETF event more important than everything else, including the halving, which should be the main priority of everyone here since now. Other events should be just secondary and not determining for Bitcoin's next bull run.

According to the news, it will happen in a few days. That's why it's so hype right now, right? and made many people take positions. But the question is, will it actually be passed or will it be postponed again or will it fail again? Is it true that there will no longer be any manipulation or tactics from them to just play the market? and then they actually make a different decision when many people have already taken a position? I don't know, because after all, it's still a matter of money and which profit is much bigger. As in the past, sometimes what happens does not match what is hyped in the news.
What is certain is to stay calm and be wise about what is happening and the hype. Don't let us go all in on something that is actually still in doubt. The hope is that this will happen, but there is no guarantee that a Bitcoin ETF will actually be legalized soon.

No, I am not expecting ETF approval this year. The exact time would be determined only by SEC; there are no chances for a forecast. I wish ETF approval after halving so we could see a real bull market. Only ETF approval alone won't push for a real bull, though we may see a short pump. Transaction fees have become a real concern for Bitcoin, which would make us sad in case we see some negative news about it. So I wish to delay ETF approval a few more weeks to normal transaction fees. So everything would be positive, which would help us see a bull market again.

Let this month pass and move on to January 2024. It seems that there will be approvals that might happen by that month prior to halving. But that's just a guess and it's still SEC that's going to decide whether to approve any of them or none. But with news like this[1], we've got some positive movement there.
[1] SEC takes new meetings with BlackRock, Grayscale as high-level Bitcoin ETF talks continue