Quote from: kro55 on Today at 03:28:18 AM

Quote from: aoluain on November 14, 2023, 07:44:44 AM

Quote from: kro55 on November 14, 2023, 04:09:49 AM

Quote from: YUriy1991 on November 14, 2023, 02:58:07 AM

Quote from: aoluain on November 13, 2023, 07:28:16 PM

All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!

And most people expect the SEC to agree and on the other hand also compare the performance of the financial industry in the past and the results BTC shows that this will be the safest and smartest investment in the future and the way is to buy bitcoin itself. Bitcoin is basically a form of currency like USD and EUR, only it doesn't have a physical form and is instead stored online on a computer. BTW, we'll see in January 2024 whether it will be accepted or there will be another delay by the SEC like before.

There are many differences between bitcoin and EUR and USD. Besides the tangible and intangible differences, bitcoin is a decentralized currency, with a limited supply...it is completely different from the fiat money that governments are creating. Furthermore, bitcoin is considered an asset rather than a currency so I think it is more appropriate to compare it with gold or other financial markets than with USD and EUR.

Basically, there are already many bitcoin ETFs in other countries but people are still waiting for an ETF from the SEC because the US is the largest financial market as well as the world financial center. I believe the SEC will have to approve ETFs but they need a better time to make that declaration and the best time could be the Bitcoin halving event.

Well this move by the Hong Kong regulators for a spot ETF might just prompt an earlier
than expected approval of the queue of spot ETF's by the SEC?

Hong Kong is still Asia's largest financial centre to maybe the SEC might feel that HK
poses a threat and potentially a lot of investors would migrate to a HK based spot
Bitcoin ETF, is that a viable argument I wonder?

I believe that no market or financial authority is large enough to put pressure on the SEC and the US financial markets. As far as I know, the US financial market accounts for more than 45% of the entire world financial market, do you think they will need and care about what the Asian and European markets are doing? Most of the world's largest exchanges and financial institutions are concentrated in the US, do you think large institutions will leave the US market and move to HK? Large institutions like Blackrock, Grayscale and many others, why don't they choose other markets, but why are they willing to wait for SEC approval even when the SEC has repeatedly rejected their ETF proposals?

Because is Blackrock that is filing the ETF. Blackrock is bigger than SEC, it literally controls the money of the entire US market. As you can see more and more politicians grilling SEC Gensler for not approving ETF to which Gensler already changed his tune.

Eventually ETFs will be approved, it may not be this Friday but maybe next year. If SEC doesn't approved then it equates to pissing institutions and it doesn't need SEC to move to other country where they don't have jurisdiction.