Bitcoin ETF Approved/ Good News for everyone

[Faisal2202]

I hope this news has not been shared before if it is, then guide me to lock this thread or what?

Well, it is good news for all of us, the waiting hours are over, and the result we were seeking is now being confirmed by the SEC that ETFs have been approved for many companies as you can see in the following document shared on the official SEC's website. Although it was deleted after some time but I was able to get the PDF from a TG. I will talk about this drama later in this post first read the pic

DRAMA:
First, the document was uploaded to this source (https://www.sec.gov/files/rules/sro/nysearca/2024/fg-89shlq.pdf ) but now it is removed from here, I got the PDF and pic from this source (https://t.me/Crypto_Bitcoin_Blockchain/2057 ). The funny thing is according to the pic

This order approves the Proposals on an accelerated basis

and it is verified at many other places also in the pic. But why the heck did they remove this from their website or is it just some high-traffic error? They already have wasted the suspense and interest of people with their yesterday episode and now they have more.

I think they are planning to start a series. Whatever the intentions are there, the feeling right now is

Well, besides all this Gary the Gensler himself (hehe) verified that ETFs have been proven. Well, check this source (https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023) but I think he don't like the term ETF so he said ETP instead. hehe

[Power420]

Bitcoin ETF approved is lucky for investors as they can see the Bitcoin market at high speed right now. Ever since the approval of the Bitcoin ETF, the Bitcoin market is realizing enough momentum that it appears to be a bull run. Right now the bitcoin market is up to 48.9k, and within this week the bitcoin market could be up to 60k. Bitcoin halving is after a few days so it is normal to have a small bull run at this time. So the good news for Bitcoin investors is that the price of Bitcoin is doing very fast, and the price of Bitcoin will increase even more in the future. More good news for investors is that the price of Bitcoin is very likely to exceed $100,000 in the future.

[Faisal2202]

Bitcoin ETF approved is lucky for investors as they can see the Bitcoin market at high speed right now. Ever since the approval of the Bitcoin ETF, the Bitcoin market is realizing enough momentum that it appears to be a bull run. Right now the bitcoin market is up to 48.9k, and within this week the bitcoin market could be up to 60k. Bitcoin halving is after a few days so it is normal to have a small bull run at this time. So the good news for Bitcoin investors is that the price of Bitcoin is doing very fast, and the price of Bitcoin will increase even more in the future. More good news for investors is that the price of Bitcoin is very likely to exceed $100,000 in the future.

You are right, ETF's approval is good luck for all of us, even though tens of approvals were rejected from the beginning of BTC to till now, which indicates everything has its time to come at. I was hoping this approval news would pump the market in a matter of hours or maybe days but the market is not pumping that much.

It only pumped when the trading was happening via ETFs, the trading volume is already crossing millions and in near future more and more people adopt it and become a part of it. One thing I have understand till now is, ETF solely don't had the power to pump BTC to new high, instead it was the interest and hype of people (investors) which is driving it plus there are other factors do exists.

[Aanuoluwatofunmi]

Come to think of this in the reality, is the approval actually a good news to everybody or not, is it that we are all happy there after or we are having the opposite in the other way round, people expect to see that the market rises and then there's more expectations on that while as the approval was being made, many were disappointed because of the market plummet, yet this is what others have been so sceptical about to see what will turn out after the approval.

[Tribalchief]

At the very moment I saw that, I was confused, but I couldn't reach a conclusion as to why they did it because I don't have concrete evidence. My allegations were based on the assumption that they were either ashamed to release the memo of the approval, or the site was overloaded. Regardless of my thoughts, I believe the Bitcoin community was smart enough to secure a copy that can serve as concrete evidence. The anticipation is finally over, so it's time to move on to the next upcoming event.

[ZAINmalik75]

yet this is what others have been so sceptical about to see what will turn out after the approval.

Disappointment, only disappointment has been turning out after the approval just like OP I was also hoping BTC could break its ATH if OP was expecting that, if not, then don't mind dear OP. But I was hoping it would break its ATH if ETF would be accepted. But I guess I was wrong also, the thing is, the hype was so huge for these ETFs, and the media and other components have played an important role in increasing the hype of ETFs among investors.

And the amazing thing is even the trading volume has crossed billions of dollars but still the price of BTC is not moving, that's because people are not trading in real BTC, maybe when people will get to know about real BTC then they might prefer to trade in it and then we will be able to see the results we were hoping to see.

[Ambatman]

Not Goodnews to everyone especially to gary and the commissioner(2) that voted against.

Disappointment, only disappointment has been turning out after the approval just like OP I was also hoping BTC could break its ATH if OP was expecting that, if not, then don't mind dear OP. But I was hoping it would break its ATH if ETF would be accepted.

It was to be expected. In investment people buy the rumor and sell the news after a correction as a result of the news then a recovery to create a new ATH would occur.

Bitcoin halving is after a few days so it is normal to have a small bull run at this time.

Lol hows 90 something days few.

[Husires]

Not Goodnews to everyone especially to gary and the commissioner(2) that voted against.

There will be a time before traditional banking entities approve of Bitcoin, so you will find that anyone who has a history with these entities or previously worked in one of these banks will say that Bitcoin has no value because they are still judging Bitcoin based on their previous financial experiences and not because it is something new and unique.

[SamReomo]

Disappointment, only disappointment has been turning out after the approval just like OP I was also hoping BTC could break its ATH

Don't be disappointed I was also thinking that Bitcoin could reach $50k during the Christmas or maybe in December but it didn't reach there, I was also expecting that Bitcoin would be close to $55k after the approval of the ETFs but it didn't reach even $50k. We have to understand that things take time in crypto world to be effective.

I know that ETFs haven't done enough to increase Bitcoin's value once they were approved but trust me Bitcoin's current value that we see is also increased because of the news of the ETFs approval from the recent few months.

We might see a good price of Bitcoin after the halving and Bitcoin may break it's ATH after the halving event or in November of the year. But, we won't see new ATH of this bull run before November 2025 and that's why I believe we can still accumulate more Bitcoin now.

[Faisal2202]

Disappointment, only disappointment has been turning out after the approval just like OP I was also hoping BTC could break its ATH if OP was expecting that, if not, then don't mind dear OP.

I was also expecting BTC to reach $50k but I think it is what it is, what we can do, it was nothing but buy the rumor and sell the news. And we become prey to it. And yeah the main reason behind no uptrend in BTC even if the trading volume of BTC is crossing billions that's because these big companies had already bought a hell of a lot of BTC in the dump and now they have made enough profit that they can buy 25% or maybe more than what they have now.

I am also hoping the same that people will move from ETFs to real BTC, but I guess Gary is right to some extent in his statements that BTC is becoming centralized while it was meant to be decentralized (source)

[Perfect540]

Bitcoin spot ETF has been approved but the market did not see a positive impact of this spot ETF approval. The Bitcoin market has been in an ever-downtrend since the Bitcoin ETF approval. So before bitcoin halving I think no matter how many bitcoin ETFs are approved the market will not grow any more.

[Husires]

Bitcoin spot ETF has been approved but the market did not see a positive impact of this spot ETF approval. The Bitcoin market has been in an ever-downtrend since the Bitcoin ETF approval. So before bitcoin halving I think no matter how many bitcoin ETFs are approved the market will not grow any more.

This is not entirely accurate. The price has actually risen due to the spot ETF, as we were less than $30,000 about 3 months ago and have reached $48,000. A correction is possible, especially since some funds like Grayscale®, but soon we will reach a point where the price will rise sharply. The effect is short-lived. It is clear that there will be a long-term effect.

[Rubel007]

Are Bitcoiners really benefiting from ETFs? This is the question that many people try to do now. Because we have seen Bitcoin price lose more value after ETF approval recently. However, many believe that Grayscale and Black Rock have lost due to overcharging their clients. But I don't care much about the price of Bitcoin. Here gamblers play games. It is the responsibility of those who are general investors how to manage them. But what I want to focus on is that those who are looking at ETFs very positively may not have any positive impact. All those who will invest they are traders and no holders of bitcoins. They will trade for short time profit. They will be trading for fiat currency. They will not appreciate the value of Bitcoin. As a result, we can say with certainty that even if ETFs can increase liquidity in the market, they cannot actually contribute as holders of Bitcoin.

[Husires]

Because we have seen Bitcoin price lose more value after ETF approval recently.

So far, we have not seen a decline. The price is still above the $42,000 level, and therefore it is the same price as January 11. Some may say that the price has not shot to the moon, but at least it has not decreased yet, meaning that you have not lost if you had bet that the price would rise.

However, many believe that Grayscale and Black Rock have lost due to overcharging their clients. But I don't care much about the price of Bitcoin. Here gamblers play games.

BlackRock's iShares has fees of about 0.25%, which is almost zero, so we cannot say that the fees are high. The fees are high in Grayscale discount/premium to NAV.