Ballsy, will it get approved?
- Yay
- Nay
0 voters
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With Gensler at the helm of the SEC, I don’t see it happening. They kept rejecting every attempt by VanEck and Greyscale with bullshit reasons, even after they addressed every single concern the SEC continued rejecting it.
If Blackrock gets accepted in it’s first round, it will be outstanding.
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They are clearly not blind to the environment, makes my tinfoil hat tingle.
Fidelity filing again too by the sounds of it
https://twitter.com/BitcoinMagazine/status/1670762619677085697?t=g4xsOf32QDFRJ-1PxPOKbw&s=35
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And Deutsche bank applying for crypto license
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Bitcoin is loving the attention today, wonder if it lasts.
Fomo?
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I think it’s happening. Blackrock pull the strings, not the SEC.
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Nearly 30k!
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BlackRock and Fidelity filling up before their buddies at the SEC approve their ETF’s?
Much like the SEC tried to squash Binance right before EDX.
If it looks like a duck…
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I would have assumed an ETF would have called a top TBH. Not that it’s been approved yet, either. I’m still (probably overly) cautiously optimistic.
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BlackRock the biggest investment funds in the world applying for a Bitcoin ETF is biggest news so far!
All the attention for decentralization is good and Safe Network will greatly benefit from it. Amazingly the devs are on a roll and timing looks almost perfect! 
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Makes me wonder what future potential ETFs we might find ourselves a part of.
On the TradFi side of things there are EFTs like CYBP and SHLG, you could picture similar ETFs on the DeFi side encompassing Safe, Filecoin, ICP and the like.
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The top before the gates open to all ISA’s, pension funds, hedge funds, etc? And months before a halving?
That doesn’t make sense.
Like every cycle we will likely see the top after the halving. Probably 6-18 months after.
My guess is somewhere between $150k - $200k.
The real fireworks begin when we make a new high above $70k.
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I know it sounds asinine but I’m saying those type of announcements are usually reserved for tops. Bitcoin futures 2017, coinbase goes public 2021.
It hasn’t been approved either so if this doesn’t get approved then what? If it is approved obviously that opens the gates to a lot of money, so.
But regardless what has changed with regulation??
The SEC hasn’t just changed their minds, though perhaps Blackrock and the rest can sway decisions?
Not sure if anyone remembers but around 4k April 2019 there were rumors of an ETF, we rally to 14k then ended back up at ~6k without including the Covid crash to 3.5k.
I suspect end of 2025 we’ll all be happy with price regardless. Your price target sounds reasonable though.
Like I said, cautiously optimistic.
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But then isn’t the SEC saying explicitly “Bitcoin is not a security”? That to me says that BlackRock have been doing their homework.
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True but again what has changed? It has been a commodity since day one but many ETFs have almost with no reason been rejected. A bunch of big boys with sway makes it far more likely, I agree there. I’d love it to be approved and perhaps it will be.
It’s just in my nature these days to be suspicious I suppose. Maybe they get approved and economies finally go into recessions so that regular people don’t have as much disposable cash while they scoop it all up, FED goes full blown QE after and they ride the plebs FOMO money to the top. During that period maybe a flash crash or just boring range. Maybe we go straight up? Only time will tell just trying to see it from as many angles as possible.
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I guess what has changes is the SECs stated position… doesn’t it, either as an indicator of sentiment, or a case strengthener for BR, mean that an approval is more likely?
Or did I miss where the SEC has commented on BTCs status in the past?
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Maybe I missed something? To my knowledge BTC has always been considered a commodity by the SEC so to me the only thing that changed is who is filing.
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Maybe it’s just the BlackRock lobbying / media machine talking it up again then
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