Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: tranthidung on January 13, 2024, 01:12:07 PM

Title: Another big narrative. Ethereum Spot ETFs
Post by: tranthidung on January 13, 2024, 01:12:07 PM
Bitcoin Spot ETF applications were approved by SEC. and marked a milestone not only for Bitcoin but also for the whole cryptocurrency industry.

Now, it is another big narrative and hope come with us: Ethereum Spot ETF applications and chance for them to be approved by SEC.

The idea of narrative is SEC. approved Bitcoin Futures ETF then Ethereum Futures ETF, like Bitcoin first, Ethereum next. They refused many Bitcoin ETF applications before losing in a court and forcefully by the court and current existent laws in the USA, to approve Bitcoin Spot ETF applications.

So, with this logic, with engagement of court, it seems SEC. will have no reason to reject Ethereum Spot ETF applications.

Here is a table of those applications.

(https://pbs.twimg.com/media/GDg0zCrWMAAlPj1?format=jpg&name=900x900) (https://twitter.com/WClementeIII/status/1745202909271167079)

It is not the only reason to be bullish with Ethereum. It is deflationary (see the website below).
Title: Re: Another big narrative. Ethereum Spot ETFs
Post by: Zed0X on January 13, 2024, 02:08:59 PM
Yeah, ETH hasn't dropped that much despite BTCs wild swings and I think that's also because of Ethereum ETF approval speculations. There were already a lot of posts/comments about buying ETH after news that Bitcoin ETF has been approved broke out.

Quote from: tranthidung on January 13, 2024, 01:12:07 PM
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So, with this logic, with engagement of court, it seems SEC. will have no reason to reject Ethereum Spot ETF applications.
SEC has no major issue against Ethereum and that could be another reason not to reject the applications.
Title: Re: Another big narrative. Ethereum Spot ETFs
Post by: tranthidung on January 13, 2024, 03:12:16 PM
Quote from: Zed0X on January 13, 2024, 02:08:59 PM
Yeah, ETH hasn't dropped that much despite BTCs wild swings and I think that's also because of Ethereum ETF approval speculations. There were already a lot of posts/comments about buying ETH after news that Bitcoin ETF has been approved broke out.
In fact, during 2023, Bitcoin rallied stronger than Ethereum, if we only look at prices of two cryptocurrencies. It makes sense to see Ethereum will hold its price better than Bitcoin in coming months because of Ethereum Spot ETF speculation.

Quote
SEC has no major issue against Ethereum and that could be another reason not to reject the applications.
They have issues with Ethereum but their Chair Gary Gensler failed to answer a question from Mr. Pattrick McHenry that "Is Ethereum a commodity or a security?"


Now, they have to change their tone because of their failures against GrayScale and Bitcoin Spot ETFs. Logic is like I expressed in OP, it seems SEC will not be able to provide any convincing reasons to reject ETH Spot ETFs. Time is counting down, till May 2024.
Title: Re: Another big narrative. Ethereum Spot ETFs
Post by: Faisal2202 on January 13, 2024, 08:56:54 PM
I think SEC read your post and made a statement that they will not accept any other crypto assets as ETF but BTC (source (https://t.me/BitcoinAltcoinCryptoNews/3867)) It is funny because at first he also said we will not accept BTC ETFs now after losing the case to the court they left with no other choice. And now they are playing the same drama with ETH also. Like they think we don't know what is going to happen.

I thought they were mature enough that they might change the scripts of this drama they are playing but I guess they are old-fashioned hehe. Anyway, in my opinion, ETH's ETFs will be approved but maybe near the last deadline just like BTC. And thanks for sharing the website it was helping.
Title: Re: Another big narrative. Ethereum Spot ETFs
Post by: hugeblack on January 14, 2024, 03:20:02 AM
Crypto ETFs need a convincing reason from the authorities that issue them, not to mention the approval of the SEC. There will not be a good economic return from them, and therefore do not expect there to be many crypto ETFs.
Do not forget that speculators are actually trying to liquidate the price by selling the price short, as most cryptos will not tolerate manipulation of millions, let alone billions.
All news about ETFs will disappear after a short time due to the expected corrections, and therefore I do not think that we will see more talk about them in the next three months.
Title: Re: Another big narrative. Ethereum Spot ETFs
Post by: tranthidung on January 14, 2024, 04:57:02 AM
Quote from: hugeblack on January 14, 2024, 03:20:02 AM
All news about ETFs will disappear after a short time due to the expected corrections, and therefore I do not think that we will see more talk about them in the next three months.
They will disappear and will come back!

It's natural cycle of news that is used for manipulation in this market. Looking back on how many times the cryptocurrency market was affected (both pumps and dumps exclusively bloodbath) because of news about Bitcoin Spot ETF applications, chances to get approve, denials from SEC.

The first Bitcoin Spot EFT application was submitted in 2013, many years ago.

The nearest deadline for Ethereum Spot ETF in the list is in May 2024 so we will have some calm months before the storm. Unsure it will be good or bad storm for ETH.
Title: Re: Another big narrative. Ethereum Spot ETFs
Post by: TomPluz on February 14, 2024, 02:09:43 PM
Quote from: Faisal2202 on January 13, 2024, 08:56:54 PM
I think SEC read your post and made a statement that they will not accept any other crypto assets as ETF but BTC (source (https://t.me/BitcoinAltcoinCryptoNews/3867)) It is funny because at first he also said we will not accept BTC ETFs now after losing the case to the court they left with no other choice. And now they are playing the same drama with ETH also. Like they think we don't know what is going to happen.

I thought they were mature enough that they might change the scripts of this drama they are playing but I guess they are old-fashioned hehe. Anyway, in my opinion, ETH's ETFs will be approved but maybe near the last deadline just like BTC. And thanks for sharing the website it was helping.

I am seeing no definite timeline for the approval of ETH ETF applications in SEC. I am sure that after approving ETFs for BTC, SEC felt that it may need some more time to digest what they would do with those of Ethereum applications. With some time constraints and the coming in of the presidential election in November, there is a big possibility that SEC may prefer to deal with this concern in 2025...except maybe if there will be a court order just like what happened with Bitcoin ETFs. Personally, am looking forward to see ETFs for both Bitcoin and Ethereum...and maybe in the next coming years there can be more digital assets also with their own ETF functioning in the market. And I am wondering if with ETFs we can now say that cryptocurrency has indeed come to the mainstream or do we need more developments to come to the market.



Title: Re: Another big narrative. Ethereum Spot ETFs
Post by: Husires on February 14, 2024, 03:21:29 PM
Bitcoin Spot ETF applications did not pass unanimously, but rather by a simple majority, and one position could have led to its rejection, so the SEC is not enthusiastic about the idea and they certainly will not have a desire to see more altcoins Spot ETFs, so I think they may wait until the end of the year to see what the impact will be and then allow one of the altcoins. Spot ETFs every few months or years.
Institutional investors may not be interested in much more than Bitcoin and Ethereum.