So guys, after reading a bit aroud this incoming ETF thing, I didn't decided yet whether this event will pump or dump the price!
Plus it is not clear whether this time the application will be finally approved!
What do you think?
None of the previous attempts were successful so why would this one be any different?
I dont forsee it gaining approval, no.
I do hope Im wrong though because if it was approved I think the price would pump significantly.
It has a chance of approval because it is positioned as 'NOT for plebs' ETF and we all know that SEC only cares about that crowd.
Even with $6000 btc, each share in this ETF will cost $150,000.
Bingo. An ETF for retail investors would be summarily shot down. This ETF is for the wealthy. The SEC will not squander an opportunity to help the rich get richer.
It's the first step toward getting a retail ETF for the plebs approved. The wealthy elites need to be able to get in at the ground floor though, since that's where most of the money will be made. I'd expect the first pleb ETF to be approved when Bitcoin is at $50K+.
info - If the SEC approve an ETF tor the wealthy what effect do you think this would have on the price?
Give me numbers brother!
it would not be numbers IMHO, or even the above 'limited' ETF, it would be like when futures was approved and say, now the above approved 'rich folk' ETF etc.
Thus that 'movement' alone, towards regulation and moving forward, even if I could not afford the ETF,
would send the price higher for BTC, because we can still get in on that part of it! Remember 85% BTC has been mined, and getting damn hard to mine the rest!
At least for us that have/buy/use BTC. It would be an 'off to the races' signal IMHO. HODL would again be the new 'normal'.