Spot ETF decision

Could as soon as the next 10 days.



SEC faces multiple Bitcoin ETF decision deadlines
Bitcoin ETF proposals from Bitwise, BlackRock, VanEck, WisdomTree and Invesco that are currently under review by the US Securities and Exchange Commission are expected to recieve word of their fate this weekend as the regulator's deadlines loom. Analysts expect more delays from the SEC, with VettaFi associate director of research and head of sector and industry research Roxanna Islam noting that the SEC needs to make a decision on Grayscale's lawsuit first, rather than seeing it "approve Ether-futures ETF filings before they approve any spot-Bitcoin ETF filings."
Full Story: BNN Bloomberg (Canada) (8/28)

 

At work today I noticed the huge jump in unrealized profits on my main portfolio. It wasn't until I got home later I heard the news.

Good job for those who were riding LONGs (except for the ones that got walloped by Pepe's rug pull earlier this week).

I had been debating on buying into the Grayscale Ethereum fund all month. Now I will most likely regret not pulling the trigger. Oh well, can't catch them all.

 

Ruling delayed 45 days.

 

BTC Spot ETF, as well as ETH Spot ETF, are going through.
Whoever doubted that Grayscale aka DCG is not going to get this done is uninformed.
Faded the pump even prior to the "delay" update, too obvious of a scam pump.

 

Really? How so?

 

You seem like a very knowledgeable & sharp guy. Did you honestly think a BTC (and Ethereum) Spot ETF is not going to happen?
Do you really need some news event to inform you of this?
Do you honestly think DCG & Grayscale do not have enough power, influence & pull to get a BTC Spot ETF done?

This SEC stuff is mostly theatre. It's also whales fleecing whatever retail is in the crypto market, since it is still a bear market and there is no new capital flooding in.

 

What I want to know, is how was that too obvious?

 

Buy the rumor, sell the news. Hope that helps.

 

No, it doesn't. If it was 'too' obvious, then why was the opportunity not arbitraged away? The statement makes little sense on its own.

Are you sure... you are not just thinking so after-the-fact?

 

I did put on a short before the "delay", so no, it wasn't just thinking, it was action.
The chart was already showing that the "news" was a non event.

If you don't realize that a Spot ETF will happen, I don't now what to tell you. It's been kinda obvious for at least a year.