Topic: Who needs Bitcoin ETF? The coders community ridiculed the SEC's refusal decision (Read 129 times)
August 31, 2018, 01:46:01 AM
why would you think such things, bitcoin is our future, it will bring revolution to the economic system, everything has it bad sides and we try to slice it instead of giving up on it so I hope that investors will have patience
August 29, 2018, 03:23:47 PM
Critics will always try to find fault with any project or comment. It is their nature to see everything in a complex way and so people need to think in a general and simple way. Moreover this project is for the community and this will add value to the society as well.
August 27, 2018, 05:02:45 AM
Until Wednesday, all eyes were on whether Bitcoins ETFs were passed. However, the results were not as expected of investors as the SEC declined nine applications for Bitcoin ETF.
However, the SEC notified the following day of a motion to reconsider all nine Decisions of Denial under Rule 431 (e) of the Commission's "Code of Practice". Also note that until the review process is over, all decisions will be temporarily void.
In fact, the SEC has never reversed its ruling in a similar way before. Just last month, the result of such a review of the Bitcoin brothers' Bitcoin ETF was published and the results of the refusal were upheld.
However, the impact from this week's events on whether Bitcoin ETFs are approved by regulators has led many people in the pre-coding community to feel tired of a tough fight. (Do not be too excited about people.
Under Rule 431 of the SEC Code of Conduct, only one Commissioner may request a review. @HesterPeirce deserves to be rewarded and respected for fighting but there is no reason to think that yesterday's rejections will be reversed.
In fact, some people have half jokingly accused the regulator of using their refusal and then re-examining them to "test the tensions" of the Bitcoin market. That said, market manipulation was the main reason for the refusal of all nine of the SEC's proposed Bitcoin ETFs. Even so, many in the codec community believe that the decision was made primarily by the SEC as a barrier to the growth of the industry.
Interestingly, the SEC still has to make its decision on the Bitcoin ETF next month. One of them is the Bitcoin ETF proposed by VanEck and SolidX.
So, with the 9 Bitcoin ETF being reviewed by the SEC, some of the critics on Twitter saw the peak of events this week as a reason to believe there could be a major reversal. The coming weeks. Who really cares?
However, it is important to note in the discussion that a bitter tensions have been expressed by a person involved in ETF funds. Critics have repeatedly stated that Bitcoin ETFs are not that interesting, not necessarily for the development of the pre-codec market.
However, the SEC notified the following day of a motion to reconsider all nine Decisions of Denial under Rule 431 (e) of the Commission's "Code of Practice". Also note that until the review process is over, all decisions will be temporarily void.
In fact, the SEC has never reversed its ruling in a similar way before. Just last month, the result of such a review of the Bitcoin brothers' Bitcoin ETF was published and the results of the refusal were upheld.
However, the impact from this week's events on whether Bitcoin ETFs are approved by regulators has led many people in the pre-coding community to feel tired of a tough fight. (Do not be too excited about people.
Under Rule 431 of the SEC Code of Conduct, only one Commissioner may request a review. @HesterPeirce deserves to be rewarded and respected for fighting but there is no reason to think that yesterday's rejections will be reversed.
In fact, some people have half jokingly accused the regulator of using their refusal and then re-examining them to "test the tensions" of the Bitcoin market. That said, market manipulation was the main reason for the refusal of all nine of the SEC's proposed Bitcoin ETFs. Even so, many in the codec community believe that the decision was made primarily by the SEC as a barrier to the growth of the industry.
Interestingly, the SEC still has to make its decision on the Bitcoin ETF next month. One of them is the Bitcoin ETF proposed by VanEck and SolidX.
So, with the 9 Bitcoin ETF being reviewed by the SEC, some of the critics on Twitter saw the peak of events this week as a reason to believe there could be a major reversal. The coming weeks. Who really cares?
However, it is important to note in the discussion that a bitter tensions have been expressed by a person involved in ETF funds. Critics have repeatedly stated that Bitcoin ETFs are not that interesting, not necessarily for the development of the pre-codec market.
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