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.
Well there is one thing that has changed, that was a bit of a seeming concern for the SEC in the previous ETF application denials - and that is seemingly increased liquidity and increased financialization of the bitcoin space. So, such increases in liquidity comes from higher prices and also from more exchanges. The increased financialization comes from the entrance of larger and large players and more tools for them to make big entrances into BTC... However, both of these are moving targets, but they both seem to continue to move into the positive direction (overall.. of course some of the price volatility and the ongoing frothiness of some of the alt coins and ICOs can detract from some of this, too).