Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: densuj on August 13, 2018, 03:08:23 PM
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Why ETF?
Assume you are a billionaire & you own 100 Million dollars worth of bitcoin
- they can be hacked
- you can lose private keys
- exchange can be hacked
- wallet can be lost
- seeds can be lost
If you die, how do you transfer it to your 3 wife & 11 children?
ETF solves this
;D ;D ;D ;D
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bitcoin suffered as the Securities and Exchange Commission (SEC) has made the decision to outright reject nine more bitcoin ETFs, including one by ProShares for two separate bitcoin-related exchange-traded funds. The SEC argued that the company’s application didn’t satisfy “the requirement that a national securities exchange’s rules be designed to prevent fraudulent and manipulative acts and practices.”
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bitcoin suffered as the Securities and Exchange Commission (SEC) has made the decision to outright reject nine more bitcoin ETFs, including one by ProShares for two separate bitcoin-related exchange-traded funds. The SEC argued that the company’s application didn’t satisfy “the requirement that a national securities exchange’s rules be designed to prevent fraudulent and manipulative acts and practices.”
The U.S. Securities and Exchange Commission (SEC) announced on Tuesday that it has taken action against two cryptocurrency firms. Both mark the “first-ever” action of their kind by the Commission. One is against a firm which claims to offer the “first regulated crypto asset fund in the United States” and the other is against an “ICO Superstore.”
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A Canadian regulated bitcoin trust has achieved the mutual fund trust status, allowing eligible investors to invest in the trust through government-sponsored tax-efficient investment plans. The investment is approved by the Ontario Securities Commission and the British Columbia Securities Commission.
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You are pretty right. ETF makes bitcoin as our investment to be safer for its future existence. I agree with your opinion.
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You are pretty right. ETF makes bitcoin as our investment to be safer for its future existence. I agree with your opinion.
Yes and here is something new information about the ETF and bitcoin.
SEC's Chief Accountant: Firms With Digital Assets Still Need to Keep Their Books in Order
Wesley Bricker, chief accountant for the U.S. Securities and Exchange Commission (SEC), has said that the advent of digital assets and blockchain technology does not change the “fundamental responsibility” of firms when it comes to their financial reporting activities.
Bricker’s remarks were made as part of a speech delivered before the AICPA National Conference on Banks & Saving Institutions in Washington, D.C. Monday, September 17.
https://cointelegraph.com/news/secs-chief-accountant-firms-with-digital-assets-still-need-to-keep-their-books-in-order/
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The Bitcoin ETF Has At least One Supporter in the SEC
The Securities and Exchange Commission (SEC) has rejected any bitcoin ETFs proposed to date. At least one SEC Commissioner, however, has been vocal about differences of opinion from his colleagues.
SEC Commissioner Hester Peirce made headlines throughout the cryptocurrency community earlier this summer after the SEC rejected the second bitcoin ETF proposal from the Winklevoss twins and their Gemini bitcoin exchange. In the aftermath of the decision, Peirce issued a statement in which he disagreed with his colleagues. He disagreed with the SEC's decision to reject the bitcoin ETF.
Since then, Peirce claims he has been called "CryptoMom" by the bitcoin community for his support of the industry. He is the only SEC commissioner who publicly issued a statement regarding the approval of the bitcoin ETF.
According to Peirce, SEC inhibits innovation by rejecting bitcoin ETFs. They tell investors and new companies to avoid the United States because of unclear regulations.
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The great run up over the last 24 hrs is due to SEC delaying decision on Bitcoin futures and requesting more comments. This is an opportunity for the entire crypto community to make a huge impact. I encourage everyone to go to SEC website and submit well contructed comments regarding BTC and ETF. This is an opportunity for individual investors to have their voices heard and provide an enormous impact to TRX that we normally would never have. Every crypto investor needs to get behind this
https://www.sec.gov/comments/sr-cboebzx-2018-040/cboebzx2018040.htm
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The U.S. Securities and Exchange Commission (SEC) made an announcement on Thursday, September 20, that it got VanEck SolidX Bitcoin Trust’s proposal for a potential exchange-traded fund (ETF). As per the proposal itself, the trust wants to list and trade its shares, SolidX Bitcoin Shares – each representing a “fractional undivided beneficial interest in the Trust’s net assets”.
The published document, which was put together by secretary, Brent J. Fields, confirmed that the Commission has received the proposal and has since been weighing in on the matter to conclude whether the ETF will be approved or disapproved.
The proposal was supposedly filed by Cboe BZX Exchange, and if everything results in their favor, then the exchange will finally be able to initiate a Bitcoin ETF, which was managed primarily by global investment firm, VanEck and a crypto startup dubbed, SolidX.
Whether the SEC plans to wave a green flag in favor of the Bitcoin ETF, relies solely on comments. In particular, the Commission is currently “seeking and encouraging interested persons to provide comments on the proposed rule change [i.e. ETF].” Some of the comments that the Commission is expecting revolves around the affirmations made by the parties involved in submitting the proposal.
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the Intercontinental Exchange (ICE) – the owner of the New York Stock Exchange (NYSE) – partnered with Microsoft, Starbucks, BCG and others, to launch Bakkt. The firm is building an open, seamless global network to enable investors, merchants and consumers to buy, sell, store and spend digital assets in a simple, more efficient and secure manner.
Bakkt Boosts The Possibility of a Bitcoin ETF
This latter fact of securely storing digital assets, has been put forth as one of the reasons the SEC might approve a Bitcoin ETF in the near future. Backed by ICE, Bakkt solves the problem of custody services for large scale institutional investors. Lack of a major Exchange providing custody services has been put forth as a reason the SEC might be delaying the approval of a Bitcoin backed ETF.
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The long debate about what bitcoin actually is from a regulatory perspective - currency, commodities or security - finally ends.
The US Commodity Futures Commission (CFTC) officially refers to bitcoin as a commodity, which means basically claiming it under its umbrella.
Supervision has long been one of the problems that have been carried out by the Securities and Exchange Commission on bitcoin packaging efforts in ETF packaging. The SEC has so far only rejected the bitcoin ETF plan - it never said yes to anything.
Just last month, the SEC rejected nine different bitcoin ETF proposals citing concerns about manipulation and about exchange capabilities - or lack thereof - to prevent "fraudulent and manipulative actions and practices." Earlier this year, he said no to the Winklevoss bitcoin ETF plans as well.
In theory, as a commodity, from a regulatory perspective, bitcoin can be treated like gold or oil, and has ETFs built around it such as the SPDR Gold Trust (GLD) physical commodity or future commodity-based ETFs, the US Petroleum Fund. (USO).
Despite being in power, the bitcoin ETF seems far into the future as it is now.
https://www.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552/
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I think this is the good and important ETF, and can solve it all, and we have to save what we have safely from hackers who are always trying to steal the money we have.
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I think this is the good and important ETF, and can solve it all, and we have to save what we have safely from hackers who are always trying to steal the money we have.
Indeed, and i have got nice information related with bitcoin ETF. It is The chairman of the U.S. Commodity Futures Trading Commission (CFTC) has explained why bitcoin futures have been approved in the U.S. but bitcoin ETFs have not. He also shared his thoughts on the future of cryptocurrencies and how they can potentially solve currency-related problems in as much as two-thirds of the world’s countries. https://news.bitcoin.com/cftc-chair-bitcoin-futures-bitcoin-etfs/
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The U.S. Securities and Exchange Commission is an independent agency of the United States federal government. The SEC holds primary responsibility for enforcing the federal securities laws, proposing securities rules, and regulating the securities industry, the nation's stock and options exchanges, and other activities and organizations, including the electronic securities markets in the United States.
An exchange-traded fund (ETF) is a basket of securities you buy or sell through a brokerage firm on a stock exchange. ETFs are offered on virtually all asset classes ranging from traditional investments to alternative assets like commodities or currencies.
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The U.S. Securities and Exchange Commission (SEC) has outlined a time frame for reviewing proposed rule changes related to a series of applications to list and trade various Bitcoin (BTC) exchange-traded funds (ETFs).
The review period affects nine separate ETFs that have been proposed by three different applicants, according to documents filed by the SEC yesterday, Oct. 4.
The new amendments affect a pair of BTC ETFs that had been submitted by ProShares in conjunction with the New York Stock Exchange (NYSE) ETF exchange NYSE Arca. The other affected applications are the five further proposed ETFs from Direxion, also for listing on NYSE Arca – and two proposals from GraniteShares, for listing on CBOE.
The SEC has solicited “any party or other person” to file a statement in support or rejection of the proposed BTC ETFs by Nov. 5.
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Its mean, ETF has access to all people wallet and all blockchain? How they do that? I think it impossible
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I think this is the good and important ETF, and can solve it all, and we have to save what we have safely from hackers who are always trying to steal the money we have.