ETFs DENIED- Full reasoning from SEC below
Gib tldr
thx, just dumped all my bags, see you at 3k
how the fuck was this denial not priced in? Did people really think this would happen?
Told you, faggots.
good btc doesn't need no etfs
oh look some ETF no one cared about was denied
they denied it because the market is not big enough. so that pretty much means all other etfs will be fucked.
great now dump it so i can buy
CBOE is all that matters anything else is inconsequential
keep on dreaming faggit
our last and only hope to turn the market around is the BAKKT exchange coming in nov. if thats a failure, then i think we might be in a bear market till like 2023
LOL, riiiiiiight. All the crypto world has been sperging about for weeks is the ETFs.
No way... you mean there's still a chance...
People see that it was denied and expect a dump so they dump because they think the whale will dump and it dumps and dumps
The only etf that has been shilled is the solidx etf, brainlet.
Damn that threads goes into archive, I want to laugh at the guy that said this tiny shitty ETF would get approved.
CBOE etf is going to be denied too.
SEC is consistent in their reasoning, the problem is with manipulation on bitcoin markets. No current ETF can escape that.
>market is not big enough
brb printing tether
Yeah, and they're right to do so. Why the fuck would they want to inject the last of the pitiful boomer money into this, so they can get dumped on every time Ver gets in a snot, or Kobayashi wants more nutto? Any chance of this happening vanished long ago, only brainlets thought it was realistic.
no
Can someone explain at this point, why anyone should care about Bitcoin or any cryptocurrency at all? People aren't using it, you still have everyone in the community only wanting to use it as a get rich quick scheme, and the entire community is divided as to which coins should be used and which ones should have value.
Please, explain to me, why it wouldn't just go down a few thousand more dollars at this rate? The SEC sees how fucking stupid this market is, normies see how fucking stupid the market is after losing their savings, and the only people left are those that just want to get bitcoin and crypto to trade it for fiat.
I just sat back and started thinking about it seriously now. Yes, I suppose it can be useful for cross border payments, and quickly transferring money overseas, but it's going to take everyone that's holding it to just make money getting flushed out before you get people actually using it for its intended purpose.
I'm shorting the shit out of bitcoin so at least I have a ton more than I did this time last year. Wait for another year or two, and hopefully all discussion and hopes and dreams about "making it" with crypto will be gone by then so we can actually have a market reset.
There are too many kids and retards still.
>Can someone explain at this point, why anyone should care about Bitcoin or any cryptocurrency at all? People aren't using it, you still have everyone in the community only wanting to use it as a get rich quick scheme, and the entire community is divided as to which coins should be used and which ones should have value.
all true, but it has one thing already potential.
No, loser, that's not true at all, stop being such a butthurt, filthy childish liar. I bet you're the retard going around all the threads saying the rejection news is FUD.
what is a sigil
This. VanECK throws ETF rule changes at the SEC all the time, they have plenty of other business to conduct, them being denied a third time is nothing. The fundamental reasons why they've been denied before, and will be denied over at the end of September, still exist, no matter how VanECK rearranged the deckchairs.
a chainlink meme if i'm not mistaken
lol how should an exchange named REKKT save us?
Are you serious?
>SEC is consistent in their reasoning
>considers ETH not a security despite it having a few traits
>having to pidgeonhole cryptocurrencies that require a new type because fuckers like Bill Clinton want in on the bull market hype
>SEC caring about gold or silver manipulation or any other kind
>SEC being anything other than elite mafia gatekeepers
Here is the third one that got rejected: sec.gov
Interestingly enough, the only one left is the VanEck ETF
This honestly shouldn’t surprise anyone. What little analysis was out there beforehand said it would be denied and the reasoning of the SEC has been consistent across all the denials: BTC markets are clearly manipulated and therefore unsuitable for an ETF. It’s fucking obvious to those of us in crypto, too. Only brainlets—and there are a lot of brainlets who “invest” in crypto and believe stupid shills like Marius and Suppoman are credible—actually believed an ETF would be approved anytime soon. So now people dump because they don’t want to be the greater fool left holding the bag they should have seen coming.
Oh, I see how it is. An hour ago, the SEC were your best buddies, they were going to make you rich, and it was all gravy.
Now, they're mafia gatekeepers, lol.
You butthurt faggots are fucking hilarious. Shitheads like you are why normal money doesn't want anything to do with your cute little fake coins.
Nope
We need A D O P T I O N
There are hundreds of exchanges
The new unicorn is the VanECK ETF, as I predicted earlier today. And it will BAKKT when it's rejected, for the same reasons it was rejected twice already. All the pajeets and morons here do no research, don't read anything about the companies and what they're actually proposing, and just sit around and post memes, thinking they know things.
VanEck will be rejected. Count on it. BAKKT will be rejected, for the same reasons why these ETFs are. Crypto is too fucked up and manipulated to let it anywhere near the real markets.
If you have a lick of sense, you can see that crypto is at a standstill. It has no use case. It's only purpose right now is margin trading on highly suspect exchanges. Retail has rejected it. Big money has rejected it. Wall Street has rejected it. It serves no purpose. It's over, unless and if Bitcoin 2.0 arrives.
Bitcoin's primary strategy has failed for now. Crypto is still going to eat the world, too many developers and potential.
The only thing crypto is going to eat in the future, at least the next couple of years, is your money as you keep throwing it at ICOs and pajeet coins that will go nowhere, but the developers will pay their bills (and you can't), and margin trading.
Crypto as anything big? It's over. The SEC has made it clear that in it's current form, it's not getting anywhere near the real markets.
Retail has rejected crypto.
Banking has rejected crypto
Wall Street has rejected crypto.
It's over.
It might find a use on smaller scales, and margin trading will keep it propped up, but it's not the revolution or groundbreaking new paradigm all the austists jerk off over here.
Blockchain is the only useful thing to come out of it, for non-currency and investment projects. I'd look into investing in that realm, but anything coin related, it's throwing good money away to keep devs afloat.
It has a usecase. Drugs on the darkweb. XMR will survive the purge. Very, very, very few other coins, and ZERO ERC-20 tokens, will.
Dozens of cryptoshill sites proclaiming the etf as bitcoin's savior
Millions of goyim are now waiting to dump at the "lower high" if it ever goes back to 7k.
It's over until the next halving.
Short ethereum. Look up all the ICOs that aren't done cashing out and it has a higher inflation rate than bitcoin. Good short/long ratio too.
>Jow Forums is that one guy who types really fast
SEC and I will never be friends. They don't actually deal with the big boys in market manipulation that coordinate their propaganda via MSM and paper derivatives. If they actually did their job and the US was back to their constitutional roots, I wouldn't mind.
>cute little fake coins
You have to go back. This is a /crypto/ containment colony now. Always has been. We just allowed you to talk about business during the bear times.
Oh, look, another NEET who thinks he has a clue, lol.
Blockchain without crypto is literally worthless. It's just a slow, distributed database. Crypto is what actually brings value by adding security and decentralization.
Bitcoin cares not about retail, banking, nor wall street.
>0
>0xbtc
I am so over this ETF bull shit.
>>etf??? approve
>> etf needed for the next bull run.
fuck the etf. there are already ways to buy the assets etf won't do sht.
All it'd do is mean more normie money, and they're pretty cautious about jumping in right now anyways. So it'd be a bust regardless due to the current market.
>normies being cautious
because the easy money from bull market and the MSM shilling are telling them so
if the market and MSM flipped, most would gobble it up when they listen to their 'authorities' because it's more convenient than trying to parse actual reality
>the easy money from bull market
the easy money from bull market is gone
A lot of people lost a lot of money to the whales. They aren't putting anything back into the market for a while no matter what anyone tells them. If they ever do again.
You dumbfucks sure cared about wall street two hours ago, lol.
Denial is fucking hilarious.
This guy above me really needs to relax he's 9 posts in to much.
>Blockchain is the only useful thing to come out of it, for non-currency and investment projects.
Muh blockhain good cryptocurrency bad. Keep reading retard.
Everyone posting in this thread - including myself - should commit suicide immediately
>ITT speculators and get rich quick faggots trying to trade.
Why would a retail ETF get through when the one that only allows accredited investors in got rejected? If accredited master race investors can't wade in without getting stabbed and fleeced, why would they feed the less savvy to our market makers?
prove it
Stock market is worse lmao kys
no it means they are goign to 1000x the market before they approve the real ETF then get the normies in then dump on them to the center of the earth
It's up 3x from it's price last year
How fucking greedy and impatient can you losers be Jesus Christ CIA get a life
like OP's cat
Would love to have the opinions of bears on why the price didn't dump
Nice cat fren :)
Be serious 2 minutes. If i invested in crypto. Its because i dont want banks / states / traditional markets/ influence. Reject is a good thing. Let them flow in capitalism crises
Still not selling faggot
good content
BAKKT is waiting for approval by the cftc and not the sec you idiot. The cftc also approved btc duturea last year.
It clearly states btc future markets are too small to base an etf on. We dont want a btc futures etf. It only means more manipulation.
So why didnt price dump?
Wtf Im stuck in this short...
We're not allowing an etf just yet because we are still accumulating. Etf will be ready in approximately 30-40 months.
Because whales control the market. Expect a nice upwards bart to counteract the JUSTing longers got yesterday when we downward barted twice. Then bears get rekt and whales can suck up all the money. Best policy is to hodl.
are you kidding me? why do you needs so much time????
haha.
this isn't for the cboe etf faggot. quit fudding
no they denied it because the jews that own the banking system told them to you fucking moron
no they denied it because of small market cap and blatant manipulations.
That's half the story, they could consider it if the fund would have sufficient collateral, so that stability is somewhat ensured, even though there is no market 'of significant size'