Bitcoin etf 10 January

[uranium]

SEC is set to approve the first spot Bitcoin ETF by January 10, 2024. Ark Investment, 21Shares, BlackRock, and Fidelity, await ETF approval.

Probably most awaited moment in bitcoin history. If approved will shoot btc ATH
This means those rich folks over 60 years old and know nothing about bitcoin, can buy etf through broker and hold forever.
Recently ibkr introduced crypto trading. Do you think btc etf will get approval?

 

[JohnnyDoe]

Probably that’s already priced in. Bitcoin’s reach of the moon is inevitable, irrespective of any news.

 

[avalanche]

Probably that’s already priced in. Bitcoin’s reach of the moon is inevitable, irrespective of any news.

It can't be fully priced in if we follow the logic that approval is supposed to bring more money into the market from the people who don't participate in it yet.

 

[alley]

read the news

Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges

Releasing them suggests they’re confident the SEC will approve the first U.S. spot bitcoin ETFs soon.

www.coindesk.com

 

[JohnnyDoe]

Buying a btc ETF instead of btc is like buying a picture of a steak instead of eating it.

 

[uranium]

Buying a btc ETF instead of btc is like buying a picture of a steak instead of eating it.

It will be available at all brokers and traditional banks. You pay 0.40% fee but you get access to huge pool of liquidity. After all, you gonna sell btc at ATH anyway.

 

[JohnnyDoe]

It will be available at all brokers and traditional banks.

So what? Are brokers and traditional banks any better than exchanges or p2p?

You pay 0.40% fee

To buy a piece of paper stating that you own btc - that you can’t use.

but you get access to huge pool of liquidity.

Never saw any lack of liquidity on btc.

After all, you gonna sell btc at ATH anyway.

I’m never gonna sell btc.

 

[uranium]

So what? Are brokers and traditional banks any better than exchanges or p2p?

To buy a piece of paper stating that you own btc - that you can’t use.

Never saw any lack of liquidity on btc.

I’m never gonna sell btc.

I agree with you but if etf gets approved, BlackRock will buy all btc and own the market. There won't be any btc left yet can get at exchange.
You want btc, you buy etf.
Satoshi Nakamoto will be BlackRock.

 

[JohnnyDoe]

I agree with you but if etf gets approved, BlackRock will buy all btc and own the market. There won't be any btc left yet can get at exchange.
You want btc, you buy etf.
Satoshi Nakamoto will be BlackRock.

Naaah. FUD and FOMO will continue as usual.

 

[Mercury]

Buying a btc ETF instead of btc is like buying a picture of a steak instead of eating it.

The main advantage I see buying BTC ETF rather than BTC itself is that your asset moves from crypto to stock.
While still being exposed to BTC growth you have easy access to banking with no more hassle.

Sadly, as long as we still need Fiat for daily life, getting hassle-free banking is a big pro.

 

[void]

Buying a btc ETF instead of btc is like buying a picture of a steak instead of eating it.

for guys like us it makes no sense however there are institutions that can't have exposure in BTC directly - is it better they will have this option or not? will it strengthen position of BTC in the regulatory framework and help with FUD?

 

[clemens]

I agree with you but if etf gets approved, BlackRock will buy all btc and own the market. There won't be any btc left yet can get at exchange.

That would be a possibility if you ask me. Never thought about it, but a fund of the size of Black Rock can do whatever they want in this world!

 

[void]

Black Rock can do whatever they want in this world!

nope

 

[clemens]

nope

OK

 

[JohnnyDoe]

for guys like us it makes no sense however there are institutions that can't have exposure in BTC directly - is it better they will have this option or not? will it strengthen position of BTC in the regulatory framework and help with FUD?

It is useless for btc, the etf is just another tool for banks and funds to scam their clients.

 

[void]

It is useless for btc, the etf is just another tool for banks and funds to scam their clients.

how likely it will be that some gov monkey will come up with an idea to ban BTC if there is an SEC approved security using it as an underlying asset? scam or not in the end, it's positive

 

[JohnnyDoe]

how likely it will be that some gov monkey will come up with an idea to ban BTC if there is an SEC approved security using it as an underlying asset? scam or not in the end, it's positive

there are already btc derivatives traded on the CME and the CBOE (which are way better than ETFs, and easily accessible from all over the world). This is a stronger reason for the government not to ban btc, even though nothing is ever granted when it comes to state monkeys.

 

[bibing]

Satoshi Nakamoto will be BlackRock.

Conspiracy theorists triggered

... will come up with an idea to ban BTC if there

They can ban banks from dealing with anything with BTC.

P2P will still go on.

They can't really ban BTC

 

[uplana]

It is useless for btc, the etf is just another tool for banks and funds to scam their clients.

I like your wise words

 

[jesuschrist]

Those rich folks over 60 years old who wanted to buy bitcoin already lost their money on investment or dating scams.
The celever ones probably just asked their family members or friends to buy it for them on their own crypto exchange accounts.
The number of old people who wanted to buy bitcoin and haven't bought yet is minimal.

BlackRock won't buy all the bitcoins, they will just manipulate the s**t ouf ot it until folks in ETF gets scared of the quick price changes and they leave, after BlackRock will forget about bitcoin and move onto some new volatile asset.