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Literally breaking just now: SEC said to not oppose Bitcoin futures ETF

Literally breaking just now: SEC said to not oppose Bitcoin futures ETF



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37 Comments

  1. Sorry for the bad source, it was the only source available at the time. Bloomberg broke the story, but they release their headlines first to only people who subscribe to their paid service before the general public gets to see it. That’s why the headline existed a few minutes before the official article was posted.

    Here’s the *now public* Bloomberg article: [https://www.bloomberg.com/news/articles/2021-10-15/bitcoin-futures-etf-said-not-to-face-sec-opposition-at-deadline?utm_source=google&utm_medium=bd&cmpId=google](https://www.bloomberg.com/news/articles/2021-10-15/bitcoin-futures-etf-said-not-to-face-sec-opposition-at-deadline?utm_source=google&utm_medium=bd&cmpId=google)

  2. This is the bullish news we’ve been waiting for all year. Assuming the sources are legit (they probably are), this means the SEC examiners have told the ProShares lawyers (off the record) they have no further comments on the filings, and have cleared them to finalize. A Bitcoin ETF is a 100% thing at this point.

  3. What I don’t understand is why would someone rather have a futures ETF instead of an ETF at the current market spot traded price?

    When someone purchases Amazon stock they’re not looking for Amazon futures.

    The people in control are so brain dead stupid they refused to sell what the customers actually want.

  4. Gensler already said he’s not opposed to a futures based BTC ETF, but is opposed to those that are physically backed by BTC that they hold a while ago though.

    A BTC ETF that had to purchase BTC in backing would create more immediate short term demand, obviously, but how would a futures based ETF effect the price? I mean, people are essentially just betting on what the price will be in the future? Seems like it will be prone to tracking error and will have minimal impact on BTC price?

  5. ETF is another journey to the same failed traditional financial mess that BTC has solved. Don’t get dragged into ETF. Buy a real BTC, learn about it and be safe.

  6. SEC not opposed to ETF futures because it gives them more power over price movements, price manipulation and generally more control…it’s not great for us plebs, spot ETFs probably won’t happen 👍futures Etfs are less efficient and more expensive to manage than spot ETFs🥲

  7. I’m not sure that this is good news.

    This will open the door for much more price manipulation than we’ve previously experienced.

    If you thought the bitfinex whales can easily manipulate the price, just wait until the multi trillion dollar hedge funds get easy access to do so without needing a bitcoin exchange account.

  8. So…uhm…this changes HODLING how?

    Oh
    Wait
    It
    Doesn’t

    Bitcoin futures rocket?? Hold and it rockets more.

    Bitcoin futures fall off a cliff (due to price manipulation of futures hedging)?? Hold and shake the paper hands out.

    TLDR: HODL it’s been the process it will always be the process.

    P.S. you want mass adoption? This is what mass adoption looks like. BTC can remain idealistic but that doesn’t mean the entire space will stay pure.

  9. Isn’t it dangerous for futures-based ETFs? What if bitcoin’s price keeps going up and these ETFs end up making huge losses with their price manipulation shenanigans?

  10. For a decentralized “currency”, the value vs fiat should not fluctuate based on government decisions… why do I need a government for Bitcoin to be successful? I DONT ! ..but what do I know

  11. As I said weeks ago, if these ETFs get approval, Bitcoin is staring at a Dan held “Supercycle”

    The boom and bust days of Bitcoin are over! Nothing can stop Bitcoin.

    Did you know a pig can have an orgasm for up to 30 minutes?
    That will be Bitcoin. The Super-Soaker of digital property!

  12. The reason is that mutual funds and companies cannot buy large amounts of bitcoin (risky assets) because they have to have equivalent collateral in FIAT. This leaves the purchases only to family offices and hedge funds. They try to delay the ETF as much as they can. Plan B mentioned that with Pomp, that’s why they went crazy and tried to ban them from YouTube. WAKE UP. ITS STILL EARLY.

  13. I love bitcoin but a futures etf is to TRY to control the price. A spot ETF is what they refuse to do. These people are evil and just work for the banks–can’t stop the ability for the central bank to create massive amounts of free money for themselves.

What do you think?

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