Bitcoin ETF is it a done deal?
Bitcoin ETF is it a done deal?
On March 11 it will become clear if the Bitcoin ETF COIN will be allowed to be traded on exchanges. On this date, years of waiting for a decision comes to an end. Let us have a look, how good chances for approval are, and what the rumors and speculations say.
Lots of people calling ETF rejection but can’t articulate why, clearly haven’t read any of the documentation and are parroting what other people here have said. Take an honest look at yourself and see if that’s you. If it is, simply do nothing.
Also, it kind of doesn’t matter. Only once in the last two years has a rule change been outright rejected, otherwise they’re always allowed a withdrawal, and on average this withdrawal is a few days before the printed deadline. We make it to Friday night anyways without a withdrawal, and I don’t care whether it’s Saturday or Monday, the approval is coming. No way do they reject it or allow it to be withdrawn on Monday, two days after the date they specify as the decision date. Even Saturday would be ridiculous as a date of withdrawal or rejection. They obviously know by now what the decision is. They won’t toy with the public like that. The only rational decision that could come on Monday (that doesn’t fuck over pretty much every investor in the underlying, not to mention leverage traders) is an approval.
TLDR; even if they can wait until Monday, they won’t. We make it to Friday night without a withdrawal and I think we’re good. Odds start drastically increasing in favor of approval vs withdrawal as the week goes on.
Winklevoss Bitcoin ETF they mayhave around 200,000 coins (as rumoured) then they are willing to sell when their stuff is worth 8 billion dollars… 4 billion per Winkle. Not bad.
“But bitcoin is too volatile, they wont pass it because it’s too risky!”
COIN won’t even make the top 20 list of most volatile ETF’s if approved. It’s not the SEC’s job to protect investors from risk, it’s only their job to ensure that those risks are accurately disclosed. They have a track record of approving funky shit.
“But the global bankster NWO Rothschild/Soros etc illuminati would never let this through!”
They tried their hardest and couldn’t even stop brexit from happening or Trump from being elected. This is now the SEC under Trump, a total outsider with an extreme anti-regulation stance.
Very good chance Bitcoin ETF will get legislated against in the future. Of course many countries already have done so.
And of course it’s not a “fundamentally safe investment vehicle” with the fact that a 51% attack is not implausible, especially when mining gets concentrated in a small number of parties who have a huge % of the hashpower.
You have to remember that the SEC officials #1 concern is their career and livelihood. If they approve BTC ETF and investors get burned, then the officials are going to be the one to get blamed and game over, career over. And many of these people only got to where they are today because are smart and good at politics. This would be a dumb move for them personally, even if it was good for the world.