2024: The Year of ETF

[trendcoin]

I think Bitcoin is a really simple and easy-to-use technology, but some traditional investors are hesitant to invest in Bitcoin because they find it complex. Also, some older people I've spoken to have told me that it's scary that when they lose keywords, they lose their Bitcoin. If the ETF is approved, I think there will be a very high level of Bitcoin purchases because people who have difficulty adapting to this technology will be able to buy Bitcoin through intermediaries. ETF approval will definitely be a positive development for us.

[alltalk]

I'm not sure that the ETF approval will push Bitcoin to ATH, especially since the halving hasn't happened yet, this doesn't reflect the previous cycle, although you can say anything can happen.

Why not? I'm pretty sure that the ETF approval will create a big hype in crypto and it will trigger a huge increase in Bitcoin/altcoins prices. Although Bitcoin halving didn't happen yet, it is very possible to push Bitcoin price. I think it is not impossible that the price of Bitcoin passed the last ATH, but maybe it won't be the ATH of Bitcoin price in the next bullrun season. Sure, the ETH probably happens after the Bitcoin halving.

At least the approval of the ETF will encourage more investors to enter because several large institutions have made large purchases like microstrategy which always buys in millions of dollars, another thing is that bitcoin has now become widespread among other investors but the adoption of payments is still very minimal, maybe this is need more time but I believe bitcoin can change the world economy.

Indeed, the good news about ETH approval will make more investors to join crypto investment, including Bitcoin. This actually will make a big hype, it will be a big support to push crypto prices. I don't know whether it can increase the adoption of Bitcoin, but it surely will help the increase of Bitcoin value.

[jonathancool220]

As we know so many companies are willing to list BTC SPOT ETF

Hi mate, what is the meaning of ETF?
I've checked on Google but I'm afraid I'll misinterpret it and it's better if I ask on the altcoinstalks forum.
But I also tried to understand every article that discussed Bitcoin ETFs on Google and contained more positive things for the acceptance of Bitcoin ETFs, is that true?
How can I describe whether a Bitcoin ETF will have a good or bad impact because I don't know in detail the meaning of a Bitcoin ETF. Hopefully in this forum, especially in reply to my thread, hopefully you will get an answer soon. Thanks!

[KingsDen]

Advantage: increases the legality of Bitcoin in the eyes of the public.

Increase the Bitcoin community.etc

Disadvantage: Huge Bitcoin might be controlled by few firms.
It might shift people attention towards their derivatives rather than holding Bitcoin itself. etc

Every advantage has a disadvantage. But in this bitcoin ETF, it seems we need it irrespective of its disadvantages. Bitcoin has suffered so much in the hands of the government, if this arrangement will reconcile bitcoin with the different governments of the world I'll appreciate it.
As we anticipate positive response and welcome global adoption, we should also anticipate stricter regulations.
But I am not scared of all this, my major problem is that let the decentralized nature of bitcoin not be affected and manipulated by a few individual.

[Peter90]

Advantage: increases the legality of Bitcoin in the eyes of the public.

Increase the Bitcoin community.etc

Disadvantage: Huge Bitcoin might be controlled by few firms.
It might shift people attention towards their derivatives rather than holding Bitcoin itself. etc

Good points!

Positive: Improve BTC looks as a "respectable" investment --> Improve the looks of the BTC community, from fringe people to respectable investors.

Negative: A BTC ETF is not BTC.

I'm not going to touch the issue of who is the legal owner of the BTC's contained in the ETF (the company managing the ETF or the shareholders?).
Even if the shareholders are the legal owners of the ETF BTC's (in which case that ETF strictly speaking couldn't be called a derivative), it's a fact that those ETF's are financial products of financial firms.

What was once considered - and maybe designed to be? - as the big alternative to fiat currencies becomes now one of the many financial products of some investment bank.

[Asiska02]

BTC is already perfect without ETF although this approval will gives opportunity to the ETF lover to invest in btc which somehow help in more adoption. What do you think about ETF, It's advantage or disadvantage? kindly share your thoughts

I am not opposing or supporting the approval of Bitcoin ETF because it has both advantage and disadvantage in the bitcoin market. If approved, we will have more investors in bitcoin and will increase the adoption of it which is what all bitcoin enthusiasts are looking up to. The core disadvantage I see in this is the effect it will cause to the market, it will make the market breed in an increasingly volatile nature that will make a lot of changes to the price. A project causing a significant change in the market is not appealing to the market and many investors won’t like the idea.

[Master107]

ETF approval will send Bitcoin rapidly to moon. Much awaited moment for everybody that are into crypto and waiting for another round of pump harder.

I also observe a lot of dramas and speculations are going on with regards of this. Even coinbase is excited about the possible result and they are prepared.

Me too a believer of approval.

[Peter90]

If approved, we will have more investors in bitcoin and will increase the adoption of it which is what all bitcoin enthusiasts are looking up to.

I'm not sure that this is the kind of adoption bitcoin enthusiasts are looking up to.

The adoption we are looking up to is usage as everyday money, acceptance by businesses as a means of payment.
Without that kind of adoption bitcoin - cryptocurrencies in general - have basically failed.

The contribution of an ETF to that kind of adoption is zero.

[Gurujebs]

BTC is already perfect without ETF although this approval will gives opportunity to the ETF lover to invest in btc which somehow help in more adoption. What do you think about ETF, It's advantage or disadvantage? kindly share your thoughts

I am not opposing or supporting the approval of Bitcoin ETF because it has both advantage and disadvantage in the bitcoin market. If approved, we will have more investors in bitcoin and will increase the adoption of it which is what all bitcoin enthusiasts are looking up to. The core disadvantage I see in this is the effect it will cause to the market, it will make the market breed in an increasingly volatile nature that will make a lot of changes to the price. A project causing a significant change in the market is not appealing to the market and many investors won’t like the idea.

Maybe at first but in the long run, many restrictions will come and it will make the Bitcoin market centralized. Some minutes ago, bitcoin crashed from $45k to $40k, this must be a result of ETF rejection, there are no official updates regarding it yet but I'm seeing some FUD of rejection in some channels circulating the media. This is what I'm talking about, if bitcoin becomes a tool of the government, it will have its completed time and I fear there is going to be more restriction than ever.

Many people want this just because they want US validation and more liquidity but this will not make any difference even if they accept the ETF later in the future, I hope we have an official update from the SEC director to clear the air so as to not manipulate the price of bitcoin and know where bitcoin stands in the united state.

[Peter90]

I think Govt is intentionally trying to delay ETF and I don't think their actually motive is to solve money laundering and market manipulation problem. they just hate bitcoin because if bitcoin gets more adoption they'll loose control over people's money.

I agree

It's about confidence in the US dollar. Approval of the BTC ETF would boost acceptance of BTC as a "respected" investment, or even as a respected currency! putting BTC in direct competition with the legal currency, the US dollar.
While the $ is undergoing the highest depreciation rate in the last 40 years, this would be the worst time for presenting to the public a new respected currency.


“An ETF would certainly enable crypto overall to take off, and based on Gensler’s comments in December 2023, he still sees this industry in need of more stringent compliance,” Thielen said. “From a political perspective, there is no reason to approve a Bitcoin Spot ETF that would legitimize Bitcoin as an alternative store of value.”

www.kitco.com


On the other side, given that the issuer of the new BTC ETF is Blackrock, I think the approval could be only delayed.

[Uruhara]

Spot Bitcoin ETFs will bring more adoption and introduction to the wider community. We know who big companies like Blackrock are. And certainly with them coming into this industry it's a signal to us that greater adoption may soon grow more quickly. Because when big companies like them enter a business or project, they will try to make it a success. included in bitcoin.

Yesterday there was a rumor about an ETF that might not be approved which shook the market causing Bitcoin to fall from 45k to 40k in a few minutes. Yes, it was a bloody tragedy because many futures traders were liquidated due to the decline. And luckily it's just an issue. So the market rose again quite stably. Well I hope we get our bearings before things escalate any faster. Dwyor

[ultrloa]

BTC is already perfect without ETF although this approval will gives opportunity to the ETF lover to invest in btc which somehow help in more adoption. What do you think about ETF, It's advantage or disadvantage? kindly share your thoughts

I am not opposing or supporting the approval of Bitcoin ETF because it has both advantage and disadvantage in the bitcoin market. If approved, we will have more investors in bitcoin and will increase the adoption of it which is what all bitcoin enthusiasts are looking up to. The core disadvantage I see in this is the effect it will cause to the market, it will make the market breed in an increasingly volatile nature that will make a lot of changes to the price. A project causing a significant change in the market is not appealing to the market and many investors won’t like the idea.

Maybe at first but in the long run, many restrictions will come and it will make the Bitcoin market centralized. Some minutes ago, bitcoin crashed from $45k to $40k, this must be a result of ETF rejection, there are no official updates regarding it yet but I'm seeing some FUD of rejection in some channels circulating the media. This is what I'm talking about, if bitcoin becomes a tool of the government, it will have its completed time and I fear there is going to be more restriction than ever.

Many people want this just because they want US validation and more liquidity but this will not make any difference even if they accept the ETF later in the future, I hope we have an official update from the SEC director to clear the air so as to not manipulate the price of bitcoin and know where bitcoin stands in the united state.

Its like they are just playing with bitcoin since these guys seems using that ETF rejection for fud purposes so that they can make the market move.

I'm starting not to like this ETF since for many times its keep rejected by those officials. Maybe they should wait for bitcoin to get established first and get more adoption before they apply so that by the time they submit another ETF approval thing then they have more better chances to get approve.

And not like this where we don't know if we can see something beneficial or not in long run.

[MrSpasybo]

Right now, we are closer to BTC Spot ETF than ever before. The deadline for SEC to provide a response to ArkInvest is January 10, so official news will come within a week. I don't think SEC will do anything foolish to anger the world's largest investment funds, however, for some reason, they may temporarily refuse and ask ArkInvest to supplement APs info. But in the end, BTC Spot ETF will still arrive in 2024 to meet the needs of investors in United States.

What I am focusing on is predicting the short-term impact of Spot ETF on BTC price and overall crypto market. The risk of "selling the news" still exists and BTC price is moving sideways waiting for news to "react". Hope we will have a breakout instead of a breakdown 30% 

[gunhell16]

I really think that this year of 2024 will be the most unusual when it comes to the Bitcoin spot ETF, because it might be the first time that the SEC of the US will have approval of those who have submitted applications.

And many of us are really expecting this matter, and the SEC can't really do anything without approval because, as I read, if the SEC doesn't do that, they will have a problem with that matter and they will face a big lawsuit or case, and for sure, the SEC will not like it.

[yhiaali3]

BTC SPOT ETF has advantages and disadvantages, the advantages are in bringing more investors to the Bitcoin market and of course this will lead to the higher prices that everyone desires.

The disadvantages are the increase in the number of whales and large companies that control the Bitcoin market, and this may lead to increased volatility due to market manipulation. Also, this will bring more regulatory government interventions that try to contain crypto.