Gentleman,
Any ideas the time of the sec decision on etf approval for direxion tomorrow ? Approval or rejection ?
I'm on the side of rejection
Lmao, are you expecting that they are going to be approved?
Its likely to be rejected anyways, The main reason is that the market is really prone to manipulation and that is the first indication that SEC is looking for. So I doubt that ETF's will be approve anyways. Everyone is really waiting for the Van Eck/Solid X Bitcoin ETF proposal, others say it will make or break this market. On the positive note, if SEC decided to approved then institutional money will flow, big influx of money coming in, but a rejection will put a big dent on the price again. So lets see. But with or without ETF though, bitcoin market will exist in the next decade or so.
I never suggested it would be approved...I there was Direxion ETF deadline yesterday, which will be followed by CME futures expiration on the 28th and vaneck ETF on the 30th.
I'm bullish and hodling however when one is day trading this deadlines are relevant thats why I asked....ultimately we do need approval by the SEC to get a broader market involved.