Topic: Will the SEC approve BTC ETF in the coming 23 days? - page 2. (Read 282 times)

Yes, I think that will be the right term, "delaying". And we have seen that the people behind SEC right now, anti-crypto, at least that's what my impression of Gary Gensler, or at least his political affiliations.

But who knows, maybe they are just waiting for the bull run before they approved it, so there could be a scenario wherein, it will be one factors for a massive run that everyone is expecting next, a 6 digit ATH in 2024/25. So let's say, we just keep our hopes alive in the next coming years.

I don't think so, This thinking comes to mind because of SEC strict policies. If SEC hit btc and want to reject ETF then why they extending application approval times, why SEC hesitate to just clearly say that they will never approve any ETF application ?

Yes every company has own rule and regulations in which they works, SEC want full control over the price of each asset so that risk of investment become low while accepting btc in current condition will be not according to their regulations so we couldn't totally blame SEC. I am not defending SEC but this is what I think valid point SEC is delaying approval.

We have seen the SEC just delaying Bitcoin ETF approval, so don't over-expect something from them. They don't care about anything; they will decide whatever they think is best. Though there is a high possibility of approving the Bitcoin ETF, I don't expect a huge difference in price. ETFs just enable contract investment; they don't relate to direct Bitcoin investment. That's the reason I don't expect much from ETF approval. If rejected, the market would act negatively for a while but won't be longer. The same will happen even if approved; it will pump a little bit but won't hold longer.

Just a reminder that SEC is not a bitcoin whale, who wants the bitcoin price to pump and will use the card of bitcoin ETF hype for this purpose. SEC is against the bitcoin and cryptocurrencies, so I don't see any interest of the SEC in delaying the ETF for creating the bitcoin ETF hype.



Really does SEC really care about people's money and really want to stop the fraud in cryptocurrencies.  Isn't the real reason of opposing the bitcoin is that they want to keep controlling the people's finance and they know the adoption of bitcoin will just get their grip on the people's money a lot lesser.

23 days remaining for just to decide what further step will be taken. The possibility of extending duration is high and i think this time maybe SEC extended decision more than 3 months(next year). Actually approving Bitcoin ETF is not an easy decision and SEC need more time for proper investigation before pointed out last decision. currently 9 big companies looking for approvals including BlackRock, WisdomTree, Valkyrie Investments, ARK Invest and some others Full List

Many members are thinking that SEC wants delay so that they buy the dip but I think something different. SEC main role is to protect the investors fund in better way and for this purpose the full review of each new application is required. Second SEC will be also looks for stability in the market , investigating fraud in crypto and proper way to solve this issue, how to meet application with legal framework of SEC regulations , review from stake holders which needs lot of time atleast six months so I hope we Will get something positive in the future not earlier

You are right, but I don't think that if there is still some hype remaining among those who are observing the ETF's dates from the start because now, they have understood the pattern these SEC and organizations are making. And why do they keep delaying it, at the start this factor does make some impact on the market, by creating some hype and by playing an important sentiment role. But now, those who know what is happening, don't even care about it and leave all their interest at the end dates which are almost in the 2024 after or before halving, I am not quite sure.

I did not mean to say that BTC price solely depends on SEC, instead, I was trying to say, why people are giving that much importance to a single entity SEC. while they can simply ignore it and use the BTC technology. I do understand Investors and other institutes have to keep an eye on the FA (Fundamental analysis) and have to make decisions based on these institutions. But I don't think that the SEC does need that much attention.

If they are given that much attention, then they will try to manipulate the market as they know all eyes are on them.

They will postpone it precisely because it is news that will start the bull season. It does not seem like the right time and conditions have been met yet. That's why they will postpone it. So they will not refuse, but they will postpone.

They also know that bull season is approaching, so they don't want to use such big news right now. It just takes a little more time.

Exactly, that's why they are not accepting nor rejecting ETFs because they are waiting for more opportunities that are yet to come where they would buy more BTC and can fill their bags. Because once the kite leaves the ground and reaches in the sky, then it will be hard to catch it. I mean to say, once the halving started and then the bull run started.

Then these organizations might not find another opportunity to fill their bags with BTC that's why they are doing it now, and buying at lower prices. Because the possibility of not seeing the BTC at this current rate in the future is also very low. Because the adoption of BTC has increased now, and after the acceptance of the ETFs, this will increase more.

They are waiting for the right moment to use this card for their own benefit.

I don’t think so. Tbh I am not sure what they are waiting for. They don’t say “yes” and they don’t say “no” too.  Maybe they are waiting for a big price drop so they can buy the dip and then approve the etf. That makes some sense. It is probably better to stop thinking about it at this point. We don’t even know if this etf will affect bitcoin in a positive way. The prices will jump in the short term that’s for sure but what about the long term? I don’t want bitcoin to be a boring boomer asset like gold.

This is just a speculation and the SEC always has a choice to decline the approval or else they shouldn’t prolonging it already since it’s just a waste of time. SEC still have an option that’s why they are delaying it and those people that speculating that ETF approval is imminent are those people that involve with the ETF or people that hyping the community due to there personal interests.

I really hate how crypto community paying attention a lot on the ETF approval. Don’t get me wrong, I like ETF to be approved but this decision time always cause price panic on crypto market which hurt the price growth.

You are right, and that's what they are doing, because many big analyses and news channels like Coindesk etc. etc. made statements and analyses or covered this topic, indicating that, the SEC will accept the ETFs because it is to their own benefit. Why would they move away the free money, I know the risk involved in such things is so high but the SEC and governmental organizations do know how to keep their hand clean and how to blame others and how can they seize funds if things go wrong path.

I hope you are getting where I am going at.

The straightforward answer is "NO," and the reason behind this negative response may not carry much weight. This is because the majority of senior members who have previously commented seem to share my perspective. Currently, the SEC has other priorities, and recent developments from the SEC suggest that they are leaning towards delaying the decision for another 120 to 145 days. Consequently, it appears that the timeline for ETF approval will extend into March.

This is the most probable scenario. Additionally, it's worth noticing that the prevailing narrative driving the uptrend of Bitcoin at the moment revolves around the ETF. However, there will be an alternative narrative that is going to support the market until the ETF approvals soon. Nevertheless, based on current sentiments, it seems likely that the ATH (All-Time High) will be achieved following the approval of ETFs.

Most definitely. I already know the hype is only but to cause little pump in Bitcoin and get some people liquidated. In fact, I already use this Dual Investment strategy that tends to get a coin at a low price and sell when it increases. So, if BTC gets lower boom I have set to buy it.

Then again, I don't really look up to only SEC to decide what to do. I also haven't forgotten there are different Economic Impacts that could affect the market

I agree with you when you saying that the ETF(s) won't be approved nor rejected, simply delayed, and this is what is going to happen also for the next dates until when they reach the very last one, which is in March/April 2024 if I remember correctly. This will help the big funds to buy even more bitcoins at a lower price because as soon as the ETF(s) will be approved there is a very high probability to see an important price surge.

Who is he trying to protect from bitcoin? The people who want to buy bitcoin can do it without an ETF. Gensler simply wants to delay a bull run for as long as he can and he knows BlackRock pouring money into bitcoin would do exactly that. Gensler is politically influenced by the Biden administration, that's the truth.

Maybe that bulling is why he's so socially awkward. His face expressions remind me of Zuck, but Zuck is even weirder.
I'm not into bullying people, but you can see Gensler isn't the guy you love hanging out with. He's that weird kid that never joins on the fun and likes to tell on you to the teacher.

https://www.youtube.com/watch?v=cTJd6vAAcDk

Gensler already said he won't honor court decisions in the guise of protecting the investing public. So the SEC may still not approve it.  He deliberately makes things difficult for all crypto companies. Even if he was reminded that companies are moving out of their country due to the regulations.

First time I can actually see clearly his face in this video. I can only imagine the face of this guy when he was a kid. He must have been bullied every now and then. 

The answer is no, they will not accept the ETF in the coming 23 days, but they will also not reject it, instead, they will delay it. And will extend the dates, in my opinion, they wanted to use this news or hype which will be created due to the approval of ETFs, as fuel to boost the BTC price up, upper than we all have expected. Like a bonus.

But, if we look at the long run and ask whether they will approve it or not, then I think they have no other option but to approve them all because they will have more benefit from these approvals, as exposure of BTC will increase and people who are not into BTC investment yet, will start to make investments and this will ultimately increase their (country) income via taxes and by other means. Overall, all they need is more investors, who can buy their shares.

Plus, we should not make SEC an entity that would have that much impact on the industry, I mean, there is no doubt that they do have an impact on the market, but we all should not make decisions according to them because they are just working in US and BTC is being used in worldwide, if they don't accept BTC ETFs then another country would approve that and then the investors will move to that country and all the profits will be theirs. And the US can not let that happen.

A lot of speculation has been ramping up that the SEC has no option but to approve the BTC EFT Proposal from various companies. This makes me wonder. What if the SEC doesn't approve it? What if they intend to prolong the announcement would you still keep your hope highs.

Honestly, I am ready to accept anything that will come up during the period as we await the announcement because I see every possible means of approval or rejection as an opportunity to step on