Quote from: BitcoinNewbie15 on July 13, 2018, 06:40:36 AM

Quote from: BrewMaster on July 11, 2018, 12:04:31 PM

Quote from: nicktalman93 on July 11, 2018, 10:07:06 AM

The proposed date by SEC to give its decision is August 10 that by extension will also decide the fate of cryptocurrencies and if trillion dollar funds will finally pour in the crypto market.

i'd say why even look for hope and silly things like ETF, bitcoin didn't have any nonsense like ETF for the past 9 years and it went from $0 to $20000 and will continue this way without them too.
...and even if ETF is approved money won't pour into bitcoin, it will pour into that ETF!

Money that pours into an ETF will have to also move into Bitcoin though as each share would need to be backed 1:1 with Bitcoin. I think an ETF approval would have more implications than just a hype pump/institutional investors pumping it. An ETF would add a great deal of Legitimacy to Bitcoin, which is definitely needed right now. The crappy ICO market has essentially painted cryptocurrencies as a joke. A Bitcoin ETF would definitely help out Bitcoin and show that it is indeed a valuable alternative store of value.

At least that is just my opinion.

you are correct about the 1:1 thing but that money comes in once and will most probably not come in into the main market (not on exchanges) they may buy bitcoin off the market or at least buy it in a way that they don't change anything about the price.
and i may be mistaken but i believe they have already bought bitcoin that they created this ETF, meaning they first provided the funds then submitted their ETF with SEC.

and i completely agree with the second part about ETF giving bitcoin Legitimacy. i think many cases like this (ETF, Futures, even Japan adopting bitcoin) have one big effect that people sometimes forget about, they show people how wrong all those FUD they were hearing were.