Spot Ethereum ETF Delays will continue to happen sporadically over the next few months. Next date that matters is May 23rd
Should we believe in this Bloomberg ETF analyst, James Seyffart:Any special reasons for the slow process and is it necessary if eventually in the end they are gonna approve it. Maybe it will also take as long as that of bitcoin took?Quote from: https://twitter.com/JSeyff/status/1750247415137833151?t=zK_8DYnSvkbDJ7HCKnqZQw&s=19Spot Ethereum ETF Delays will continue to happen sporadically over the next few months. Next date that matters is May 23rd
If you click on the link in the quote above, on X you will see this:
[TREE DAO] BREAKING: SEC delays Blackrock spot Ethereum ETF.
sec.gov/files/rules/sr… (https://www.sec.gov/files/rules/sro/nasdaq/2024/34-99419.pdf)
SEC will not rush this. Do not believe in the news that says United States SEC may approve ether spot ETF soon. The process before the approval would be slow.
The bitcoin ETF was not approved by an overwhelming majority, but rather by accepting 3 YES to 2 NO, which means that there is no consensus or approval on cryptocurrencies. If this were for bitcoin, we would certainly not see altcoins soon. However, speculators are promoting this news to make the price move forward, which has already happened.
Any special reasons for the slow process and is it necessary if eventually in the end they are gonna approve it. Maybe it will also take as long as that of bitcoin took?
Any special reasons for the slow process and is it necessary if eventually in the end they are gonna approve it. Maybe it will also take as long as that of bitcoin took?I saw on the news that United States SEC said they need more time to review the proposed rule change or something like that. Also in something like this, we should not expect the SEC to act fast. It will take time as it supposed to be.
I still don't understand why Gary Gensler voted for approval even though he is known for his hostility towards Bitcoin and the crypto industry in general. If he had voted no, the result would have been reversed. Strange, incomprehensible situation?I think the reason is the victory that Grayscale had over SEC in Court.
I still don't understand why Gary Gensler voted for approval even though he is known for his hostility towards Bitcoin and the crypto industry in general. If he had voted no, the result would have been reversed. Strange, incomprehensible situation?It is true that Gensler does not like Bitcoin and not supporting it, but there is a demand. If they do not succeed in containing this demand, people will buy Bitcoin, and then another scandal may occur, like what happened with FTX, so to avoid all the problems that may occur (if more citizens lose their money in Bitcoin investments) Which they may blame the SEC and to avoid legal disputes he agreed.
[I agree with you that the whole thing is just against the Satoshi concept of Bitcoin which is majorly decentralization. However, we should also understand that Bitcoin will not remain in the first and early phase forever. Many things will change, more adoption more troubles and more manipulations. But then, if we still have the freedom to practice the initial idea of bitcoin, I think there's no problem.
Frankly, the ETF is against the concept of decentralization because now there are services such as banks that buy Bitcoin for you and keep it for you.(https://s.yimg.com/ny/api/res/1.2/mOKHN7p3ylwSmJJU2XZOFg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTcyMDtjZj13ZWJw/https://media.zenfs.com/en/coindesk_75/502e3a7a093ed718f5977290be74354e)
Frankly, the ETF is against the concept of decentralization because now there are services such as banks that buy Bitcoin for you and keep it for you.Yes, I completely agree with you on this point. ETF completely opposes the concept of Bitcoin and decentralization, but this is what governments like. Governments’ first goal is centralization and control, so they will welcome such institutions that lead Bitcoin towards centralization.
I still don't understand why Gary Gensler voted for approval even though he is known for his hostility towards Bitcoin and the crypto industry in general. If he had voted no, the result would have been reversed. Strange, incomprehensible situation?He is not the main player against crypto, his hands are tied with the law, this means, that even if he wants to oppose BTC but the law he and his country have made or following was not opposing the approval of BTC. According to rules and regulations, BTC was not breaking any rules that would stop its ETF approval so the SEC and all other authorities lost the case in court and big companies that filed for ETF approval got approved.
Some people are also happy for companies to guard Bitcoin for them and just buy some stocks instead of owning real Bitcoin, but they may not realize that this is the same principle on which central banks operate.I believe they realize that and that is why they buy BTC's through spot etf's, they do not want to control their keys, neither do they want to use cryptocurrency exchanges. However, it is against the principles of BTC, but these institutional investors do not care about the self control and freedom that BTC offers, they simply want to make returns from it.
He is not the main player against crypto, his hands are tied with the law, this means, that even if he wants to oppose BTC but the law he and his country have made or following was not opposing the approval of BTC. According to rules and regulations, BTC was not breaking any rules that would stop its ETF approval so the SEC and all other authorities lost the case in court and big companies that filed for ETF approval got approved.
Some weeks ago, it was highly anticipated that SEC would approve Bitcoin ETF and favourably it happened as expected. Although the impact so far in the market has been all negative. But I believe on the long run, things will change.Both have not been declared as securities by the SEC and other authorities in the USA so why would they stop or create hurdles in the approval of ETH approval and ETH is a centralized token and authorities can easily handle and manage ETH's policies but I am afraid it will hurt the market condition. I am seeing a lot of potential and hype for ETH ETFs. Many people are also saying ETH will outperform BTC.
Are there any concrete information about Ethereum ETF approval?
Yes, I completely agree with you on this point. ETF completely opposes the concept of Bitcoin and decentralization, but this is what governments like. Governments’ first goal is centralization and control, so they will welcome such institutions that lead Bitcoin towards centralization.POS makes the cryptocurrency more capable of being centralized, as the government can print enough money to buy more Ethereum, and therefore at some point a certain group will have the power to control it. Therefore, approving an ETF for a cryptocurrency such as ETH, with the principle of proof of stake, will make things move towards centralization quickly.
They could have procrastinated more, but to be clear, many investors are looking for profit and do not care about decentralization. Many traders leave their money on the exchange platform and rarely withdraw anything to the wallet, and even the wallets they use are closed source, so for many who consider Bitcoin an investment, an ETF is a good solution.I do understand that people not getting the benefit of decentralization, using centralized exchanges and close source wallets, which are also centralized, but how ETF is a good solution to that? I mean ETF is also centralized. I think you are talking about the security factor. As in ETFs, we get more security even with insurance while on those centralized exchanges and wallets, the security is vulnerable and the insurance is not a word in their dictionary.
Are there any concrete information about Ethereum ETF approval?
Are there any concrete information about Ethereum ETF approval?
After the approval of many ETFs for Bitcoin, now the limelight is focusing on those applications for Ethereum, the second largest cryptocurrency on the market, the heir to Bitcoin, so to speak. I don't have an insider knowledge on when SEC will approved those applications for Ethereum but there is a big possibility, in my humble opinion, for this to happen if not on the last quarter of this year then most likely early 2025 but in case there will be new people manning SEC at that time (due to election in November and if Trump will win) then it can be shelved for the time being pending the decision of the incoming bureaucrats. Now, with happened to Bitcoin after the ETF approval, I now entertain some doubts whether this is going to be the best move for cryptocurrency. Certainly, the question of centralization is now starting to play and with that is that perennial concern on manipulation as if ETF can be a more effective and bigger tool for players to influence the market according to their own financial interest. With that being said, I am actually hoping am wrong.
Frankly, the ETF is against the concept of decentralization because now there are services such as banks that buy Bitcoin for you and keep it for you.Yes, I completely agree with you on this point. ETF completely opposes the concept of Bitcoin and decentralization, but this is what governments like. Governments’ first goal is centralization and control, so they will welcome such institutions that lead Bitcoin towards centralization.
Some people are also happy for companies to guard Bitcoin for them and just buy some stocks instead of owning real Bitcoin, but they may not realize that this is the same principle on which central banks operate.
Some weeks ago, it was highly anticipated that SEC would approve Bitcoin ETF and favourably it happened as expected. Although the impact so far in the market has been all negative. But I believe on the long run, things will change.
Are there any concrete information about Ethereum ETF approval?
A positive investor sentiment towards the cryptocurrency has been observed after the approval of the Bitcoin ETF. Although the market does not have a major impact, it has a considerable impact indirectly. According to the current market conditions, we won't be hearing any talk about Ethereum ETFs soon. Because Bitcoin ETFs are not yet fully matured. But I would agree with you that since the Bitcoin halving takes place there will be a lot of Bitcoin price swings and Ethereum ETF discussions will be at that time. But it is not sure yet. We can expect something at the end of this year or maybe next year.Some weeks ago, it was highly anticipated that SEC would approve Bitcoin ETF and favourably it happened as expected. Although the impact so far in the market has been all negative. But I believe on the long run, things will change.
Are there any concrete information about Ethereum ETF approval?
The price of Bitcoin rose sharply on this good news before the launch of the Bitcoin ETF. But currently the price of Bitcoin has not changed and improved since it was approved in the Bitcoin ETF market. However, due to the volatility in the Bitcoin market, the halving will begin in 2024 and will create ample buying opportunities for Bitcoin investors before this halving. Because of such good news, the current market is now at normal levels, but it is certain that the price of Bitcoin will cross one hundred thousand dollars in 2025, the year after the halving of 2024.
This will not only affect Bitcoin but will also have a halving effect on other Altcoins including Bitcoin. Ethereum is one of them, among all Altcoins Ethereum coin is trusted and old platform so Ethereum ETF will definitely be active in the year of halving and the price will definitely increase.
A positive investor sentiment towards the cryptocurrency has been observed after the approval of the Bitcoin ETF. Although the market does not have a major impact, it has a considerable impact indirectly. According to the current market conditions, we won't be hearing any talk about Ethereum ETFs soon. Because Bitcoin ETFs are not yet fully matured. But I would agree with you that since the Bitcoin halving takes place there will be a lot of Bitcoin price swings and Ethereum ETF discussions will be at that time. But it is not sure yet. We can expect something at the end of this year or maybe next year.Some weeks ago, it was highly anticipated that SEC would approve Bitcoin ETF and favourably it happened as expected. Although the impact so far in the market has been all negative. But I believe on the long run, things will change.
Are there any concrete information about Ethereum ETF approval?
The price of Bitcoin rose sharply on this good news before the launch of the Bitcoin ETF. But currently the price of Bitcoin has not changed and improved since it was approved in the Bitcoin ETF market. However, due to the volatility in the Bitcoin market, the halving will begin in 2024 and will create ample buying opportunities for Bitcoin investors before this halving. Because of such good news, the current market is now at normal levels, but it is certain that the price of Bitcoin will cross one hundred thousand dollars in 2025, the year after the halving of 2024.
This will not only affect Bitcoin but will also have a halving effect on other Altcoins including Bitcoin. Ethereum is one of them, among all Altcoins Ethereum coin is trusted and old platform so Ethereum ETF will definitely be active in the year of halving and the price will definitely increase.
Some weeks ago, it was highly anticipated that SEC would approve Bitcoin ETF and favourably it happened as expected. Although the impact so far in the market has been all negative. But I believe on the long run, things will change.
Are there any concrete information about Ethereum ETF approval?
It is true that there could be more risk in the market if Ethereum ETF is approved. We have already seen the risk of Bitcoin ETF, everything went opposite to what we have thought. Many people bought the hieghts of 45k to 47k when the approval news broke but till now those persons who bought there are not yet bullish. It is just a simple show of manipulationa.Some weeks ago, it was highly anticipated that SEC would approve Bitcoin ETF and favourably it happened as expected. Although the impact so far in the market has been all negative. But I believe on the long run, things will change.
Are there any concrete information about Ethereum ETF approval?
Donald Trump, on the other hand, sold 2.4 million Ether. I don't know how it will play on the market, but Trump has made it clear to sell because he is not a fool. Maybe his thinking is different but meanwhile again ETF. Ether is going to be approved in that case. Bitcoin if we notice. 47 thousand which was sitting ahead of the price before the ETF was approved is the price after the approval. The price has reached 42 thousand, but in that case, there will be a risk on our market. Below is the news link.
https://www.benzinga.com/markets/cryptocurrency/24/01/36743035/donald-trump-sold-2-4-million-ethereum-smart-move-or-big-mistake