What's gonna happen now that ETF declined?
I mean in theory, if BTC drops then the xmr/btc price would go up because to get the same USD amount would require more btc.
But if they are both dropping then that sucks.
Seems like we are holding that $13 or so point. But we will have to wait for everyone to hear the news.
Bitcoin will need to trade on its fundamentals again rather than than hype over the listing of this ETP. I have read the SEC rejection
https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdf and it does make some very valid points, regarding the potential for manipulation of the XBT/USD exchange rate. This can to a significant extent be traced to the fact that the majority of the Bitcoin hashrate is behind the Great Firewall of China.
Edit: ... and China's CNY exchange controls.