There's a massive pile up of ETF applications on the doorstep of the SEC.
So when will "crypto mom" reward us for being good little boys and girls and let us have our ice cream?
ETF Pile Up
As of this week there is not 1, not 2, but 7 ETF applications on deck for review by the U.S. Securities and Exchange Commission.
This is a real push by prominent financial institutions to help get the ball rolling within the SEC and I have to believe they wouldn't be filing these applications if they knew for certain that they would be immediately rejected. It would just be an incredible waste of time and effort, so to me it looks like a somewhat loosely coordinated effort to apply pressure on crypto mom to consider opening the floodgates.
Of course there is the chance that all these efforts are in vein, and it should be noted that all previous ETF applications have been rejected.
But the fact is the US has sat on the side lines while other countries like Canada have forged ahead with regulating ETF's, as Canada now has three ETF's available on the Toronto Stock Exchange. The SEC has had a chance to watch the landscape unfold a little bit across the border without issue, plus this is the first time that the SEC is seeing ETF applications from prominent established financial institutions, as apposed to start ups.
ETFs Will SUPERCHARGE Bitcoin!
ETF Applications on Deck
A number of large high profile institutions now have applications on file with the SEC, with the hopes of challenging one of the only existing BTC exposure opportunities, the Grayscales BTC Trust.
These institutions include the likes of:
- Fidelity
- SkyBridge Capital
- New York Digital Investment Group
- VanEck
- Bitwise
- Gemini
- Goldman Sachs
The Timing Could Be Right
Maybe the decision isn't made next week or next month even, but what if crypto mom and her crew of cronies give the go ahead in late spring or early summer? I'm thinking June or July, but either way this type of news would definitely add an incredible amount of fuel to the bull run fire.
How awesome would that be!
I think I would almost rather see it approved a little later this spring or early summer as apposed to now, just to have a sort of ace up our sleeves. With this kind of news I could see BTC and whole market jumping up by anywhere from 5-10% in a matter of a day or two.
Call it wild speculation but there really couldn't be any better news, that and the fact there is only so much BTC to go around. Supply shortages are already happening across the board and with this news we would see within a the span of a few weeks nearly every major financial institution in the US buy up BTC to park in their ETF bag.
Remember that ETF's wont be like Grayscales Trust whose shares are NOT redeemable for the assets held in trust (Bitcoin), and in fact is now trading below NAV. With a regulated ETF the shares would be redeemable so in theory the total value of the shares should never be less than that of the value of the BTC being held, preventing it from trading below NAV.
Hopefully we get some good news to hit our screens later this year, Q2 would be perfect in my opinion, until then keep holding!
Ciao for now,
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For me ETFs are nothing more than traps to catch fools, in the sense that institutions like BlackRock (the owners of the world) already have it raised in their offer of investments in Bitcoin, in this way through this instrument the investor entrusts his fiat money to these institutions and in return receives a certificate with a wallet address but without the keys. It is simple, they make you believe that you own your cryptos (BTC) but in reality you only have the right to withdraw fiat while the institutions will be the owners of the digital money that you mistakenly believed to be yours.
Under this scheme, BTC will obviously rise in price to 100K or more, because the institutions will receive the fiat money flow to buy the cryptos (in case they actually buy them) and investors will be stuffed with worthless paper in the hope that they invest in the king of digital currencies.
It is necessary to remember these words always: "IF YOU DON'T HAVE THE KEYS YOU DON'T OWN YOUR CRYPTOS".
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Well you're not wrong. However I don't think it makes someone a fool if they don't want to manage their own crypto wallets. Lazy maybe, not knowledgeable more than likely. I'm not saying it's a perfect investment vehicle but it solves a problem, and products that solve problems succeed. The average person will likely never manage their own crypto keys. I wish it wasn't so, but banks, and cloud computing, and ETF's solve problems and lower the barrier to entry.
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Ufff, if this happens, we are going to see a BTC at over $100K possibly hahaha 💪.
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It will certainty help, that's for sure! Will this be our ace up the sleeve for Q2? Here's hoping so.
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This is so cool! As you mentioned @agr8buzz, this move will have a very positive impact on the whole market and at the same time another huge stepping stone in Crypto Adoption. The more ways to get into crypto, the better.
Crypto mom has to listen to these big boys this time. 😂
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Common crypto mom throw us a bone! maybe we have to get her something nice for her birthday and she'll let the boys out to play finally.
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No more "You are grounded" shizz.
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If they start buying - there is not enough supply to get even close. Price has now where to go. It is scary to think it could 5x from here, but it appears institutional money is finally getting into crypto - and the flood gates will open
I am sure BTC will benefit the most, but there is going to be action for a lot of other chains.
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Lots of upwards movement still to come. Just a matter of how institutions want to enter, can they get in cautiously knowing there's likely a crypto winter to come later this year or next, or are they forced to fill bags in order to offer products.
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I have this feeling people are starting to ignore short term movements in crypto - even timer periods like 12 months no longer matter - it has a long enough track record that you treat it like any other asset class. Buy - Hold, Buy the Drip - Profit
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ETFs are growing quite a lot these days
And rise in order to put a large footprint and form a wonderful investment market
And all of this is in the interest of cryptocurrencies
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Exactly, and ETF's provide a great way for people that don't want to deal with storing crypto to gain exposure. Annnd there's some great registered accounts that will hold ETF's like TFSA's here in Canada and what ever the US version of a tax free investment account is..
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Other countries have allowed it so it's only a matter of time before we get one in the US.
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Yes! The power of positive thinking!
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All about it.
Very good !!
GREAT UNISWAP V3 ANNOUNCEMENT !! REVOLUTION IS COMING !!
https://leofinance.io/@biginvestor/great-uniswap-v3-announcement-revolution-is-coming
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Thanks for the share @shortsegments 👊
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