Bitcoin ETF "Nearly Certain" To Win Approval Later This Year

Authored by 'Rogue Trader' via The ICO Journal,

Working back channels at the SEC and the CFTC in particular, we’ve come across two sources that seem to be ‘nearly certain’ that the crypto ETF conversation is about to take a seriously bullish turn.

The background for the optimism is tempered with some specific downside: coming crypto and ICO regulations. Both sources said that the ‘nearly certain’ approval of a Bitcoin ETF and other crypto ETF products will be announced alongside the first set of crypto regulations of substance from both the SEC and the CFTC.

Our most optimistic source, coming from the CFTC, said the following:

“I would call it 90% at this point. The crypto markets have moderated and regulators have watched the lack of drama surrounding Bitcoin futures across several global exchanges. The price moderation and adoption of a ‘peer product’ is what the conversations have centered around. In January we were justifiably concerned about a bubble and the harm a quickly approved product could attract speculators and create losses that led to significant lawsuits. Now, those factors seem to be mitigated significantly.”

The second source, a former SEC employee who left the regulator two weeks ago, had this to say:

“I would expect a positive outcome in September – or if it gets strung out a little further it is simply a few ‘dotted i’s and crossed t’s’ are being finalized on larger regulatory language in the crypto space. To be clear, most of the regulation will be first focused on ICO’s and the issues those pose for retail investors at the moment. US residents are sending money to all sorts of exotic locations to invest in unregulated instruments with absolutely zero recourse for losing every cent they’ve put at risk. ICO regulation will begin to solve those issues and keep client assets ‘onshore’.

Both sources made further comments all having to do with the runway that Bitcoin and crypto futures (Ethereum) have provided for ETF products taking center stage late this year and into 2019.

The regulatory agencies are fully aware that once this door is cracked open it will create a flood of submissions, approvals, new products in every color, shade, and denomination connected to crypto. Thus, the congruent push for regulation that will provide the architecture for fair and equitable markets to surround the newly regulated asset class.

Still, this is big news as we are essentially being told that an approval is all but guaranteed. If you take a look at price movements connected to industries that joined the ETF movement and the institutional assets that followed, an expected spike in prices isn’t far-fetched.

One reason why billionaires and well-known asset managers have been heard discussing, and investing in, cryptocurrencies via pure means or via crypto hedge funds. Interesting indeed.

Comments

Yellow_Snow nope-1004 Mon, 07/23/2018 - 10:25 Permalink

This is really great news  !!!

"...that once this door is cracked open it will create a flood of submissions, approvals, new products in every color, shade, and denomination connected to crypto."

Wall St. is coming to Crypto...

Also Bullish...

US Chamber of Commerce Calls out SEC & CFTC for Supportive Crypto and ICO Regulations

And...

G20 Ministers Say Cryptocurrencies Are Not a Threat to Global Financial Stability

BTC currently trading at $7700  - up 35% from low

In reply to by nope-1004

Nature_Boy_Wooooo Yellow_Snow Mon, 07/23/2018 - 10:28 Permalink

An ETF can basically only drive the price up. It's funny how they announced the futures first......the price skyrocketed to $20k........then as soon as the futures open they pound it down to $6k........next up $100k.

 

It's as if the CME  and the CBOE were in on the plan the whole time. I couldn't think of a better way to milk every penny out of this. If the ETF came first they never would have been able to do what they did.

 

Glad I hodled through all of that.

In reply to by Yellow_Snow

HaveDream css1971 Mon, 07/23/2018 - 12:33 Permalink

The real key is state power.  Is state power (usually working hand-in-glove with bankers) being used to prop up an asset and distort values?  If so, we get all the problems of the world today due to perverse incentives faced by the powerful.

Whether gold, silver, or Bitcoin falls into this category is a long and complicated discussion, though.  (These things are/were a lot less state-free than most people realize!)

In reply to by css1971

lookslikecraptome Nature_Boy_Wooooo Mon, 07/23/2018 - 12:12 Permalink

The problem for mass adoption is that NO ONE CARES. See if you can find this "NEWS" in the NYT, Breitbart, FOX,La Times, Chicago times, et all. Let me make my point easy. Here is a list from drudge. The media for coin is coin telegraph and yada yada yada coin pushing rags, reddit, and Hedge. Hedge is the only site listed on drudge. See how many references to this article you will find. Maybe two outside the coin universe. did not look to close but could find no mention in the WSJ. Forbes had one pump and dump. Financial times had none.The coin universe is very very small in relationship to those who must mass adopt. And guess what those required for mass adoption read. It is not hedge reddit or the coin rags.

ABCNEWS
ADWEEK
ATLANTIC
AXIOS
BBC
BILD
BILLBOARD
BLAZE
BOSTON GLOBE
BOSTON HERALD
BREITBART
BUSINESS INSIDER
BUZZFEED
CBS NEWS
CBS NEWS LOCAL
CELEBRITY SERVICE
C-SPAN
CHICAGO SUN-TIMES
CHICAGO TRIB
CHRISTIAN SCIENCE
CNBC
CNN
DAILY BEAST
DAILY CALLER
DEADLINE HOLLYWOOD
DER SPIEGEL
E!
ECONOMIST
ENT WEEKLY
FINANCIAL TIMES
FORBES
FOXNEWS
FRANCE 24
FREE BEACON
FREE REPUBLIC
HOT AIR
HELLO!
HILL
HILL: JUST IN
H'WOOD REPORTER
HUFFINGTON POST
INFOWARS
INTERCEPT
JERUSALEM POST
LA DAILY NEWS
LA TIMES
LIFEZETTE
LUCIANNE.COM
MEDIAITE
MOTHER JONES
NATION
NATIONAL REVIEW
NBC NEWS
NEW REPUBLIC
NEW YORK
NY DAILY NEWS
NY OBSERVER
NY POST
NY TIMES
NY TIMES WIRE
NEW YORKER
NEWSBUSTERS
NEWSMAX
PEOPLE
PJ MEDIA
POLITICO
RADAR
REAL CLEAR POLITICS
REASON
ROLL CALL
ROLLING STONE
SALON
SAN FRAN CHRON
SKY NEWS
SLATE
SMOKING GUN
TALKING POINTS MEMO
TIME MAG
TMZ
[UK] DAILY MAIL
[UK] DAILY MAIL FEED
[UK] DAILY MIRROR
[UK] DAILY RECORD
[UK] EVENING STANDARD
[UK] EXPRESS
[UK] GUARDIAN
[UK] INDEPENDENT
[UK] SUN
[UK] TELEGRAPH
US NEWS
USA TODAY
VANITY FAIR
VARIETY
WALL STREET JOURNAL
WASH EXAMINER
WASH POST
WASH TIMES
WEEKLY STANDARD
WORLD NET DAILY
ZERO HEDGE

Not many people outside the coin universe even care about the differences of Bcash and bitcoin. You guys get it but does middle Europe or Middle America even care?

In reply to by Nature_Boy_Wooooo

Exponere Mendaces Cryptopithicus Homme Mon, 07/23/2018 - 21:31 Permalink

Cashies keep wishing, but it isn't happening.

Your adoption is shit, your overall throughput is shit, Roger Ver has to stump in South Korea because he's getting desperate for people to jump on board.

http://fork.lol/

See how CashieCoin is not even cracking the profitability for miners? See how the last percentage of hashing power is below 10%?

Those are actual metrics, instead of you regurgitating talking points.

But keep on telling us how you think BCash is "taking over".

 

LOL

In reply to by Cryptopithicus Homme

sessinpo loveyajimbo Mon, 07/23/2018 - 11:02 Permalink

loveyajimbo nope-1004 Mon, 07/23/2018 - 10:26 Permalink

Yep, no shock this will be approved... but your Bitcoin supporting fools need to read this:

http://mileswmathis.com/bitfraud.pdf

---------

Yea, love the contradiction in the article. Starts off by blasting the anonymity of bitcoin

In other words, you have no more anonymity than a bank account

holder.

then goes on to say

And what’s worse, there’s no way of knowing who these few are. This is where the anonymity of the blockchain becomes a drawback rather than a benefit.

lol

Those were once selling points. Whether you like it or not, currency if being transformed just as it has in the past. I assume you have fought tooth and nail and refuse to use any checking/savings accounts, debit or credit cards? If you do use them, then you are a hypocrite. When those items were once introduced, you got the same people saying how bad it was . blah blah blah.

Yes it may be bad, but it's where currency is going and  unless you stop using currency, then you are wasting your time.

In reply to by loveyajimbo