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Bloomberg Believes Securities And Exchange Commission (SEC) May Approve Four Bitcoin ETFs For The First Time By The End Of October

Bloomberg Believes Securities And Exchange Commission (SEC) May Approve Four Bitcoin ETFs For The First Time By The End Of October



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19 Comments

  1. Didn’t Gensler just approve an ETP that shorts the VIX to come back after it went bankrupt, losing 100% of its value in a massive crash in 2018 where the S&P didn’t even have a proper correction? And clearly it had been approved back in the 2010-ish era.

    Yet a BTC ETF is having to jump through a billion hoops and the SEC keeps delaying and delaying their approval decisions if they can’t find anything wrong? 🤷🏼 wtf

  2. tldr; The US Securities and Exchange Commission (SEC) could approve four Bitcoin futures ETFs by the end of October, according to Bloomberg. The applications were submitted in the format that is favored by the SEC. This year, SEC Chairman Gary Gensler stated that Bitcoin ETFs applications should be submitted in compliance with the Investment Company Act.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. Individuals should **buy actual Bitcoins** (not alt-coins, GBTC, ETFs, paypal, robinhood, etc), then send their Bitcoins to their own (hardware) wallets.

    ETFs open the door to bad things.

    **Rehypothecation**: Look at the price of gold; it has been artificially suppressed via “paper gold”. Search, “physical gold vs paper gold”. ETFs open the door for evil people to suppress the price of Bitcoin by selling Bitcoins that don’t exist, or, if you prefer, selling the same Bitcoin to many clients (dozens, hundreds), all at the same time. Don’t be quick yell “hooray for Bitcoin ETFs.”

    **Government confiscation**: As the US dollar collapses (along with every other fiat currency), it will reach a point where they decide they “need” some money with value, to pay the military, for example. They’ll decide they “need” to confiscate Bitcoins (and probably gold, too). The only Bitcoins they’ll be able to confiscate will be those in held in custody, such as ETFs, exchanges, GBTC, etc. When this happens, those who have been beating the “Not your keys, not your Bitcoins,” drum will be vindicated.

  4. The antiestablishment nature of this sub can be a lot sometimes

    Yea fuck banks, but if they want to pump my bitcoin by holding some off-brand version on their books then I’m game.

    The only way bitcoin actually solves inflation is by money being put into it

  5. Potential ETF approval dates (taken from Willy Woo’s latest newsletter):

    Oct 18th – ProShares Bitcoin Strategy ETF

    Oct 19th – Invesco Bitcoin Strategy ETF

    Oct 25th – VanEck Bitcoin Strategy ETF

    Oct 25th – Calkyrie Bitcoin Strategy ETF

    Nov 1st – Galaxy Bitcoin Stategy ETF

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