Grubles shared: So, Facebook can plunge 20-30% in one day, and Snapchat can pump 62% in one day, but we can’t have a spot Bitcoin ETF because…?

Community Response:  This “regulated” stock volatility makes Bitcoin look like calm waters in comparison.

They are forced to provide a reason? Or reasonable, transparent qualifications that need to be met?  I just like to think Gensler is just forcing everyone into owning the actual bearer asset.

I think that could be a part of it but Prof Gens also won’t let shitcoins moon without regulation (hence executive order).

If the SEC approved a #Bitcoin spot ETF, the price would jump to $1,000,000 a coin and they don’t want to be the ones responsible for sending Bitcoin to the moon. A spot ETF will be approved after we reach the moon on our own.

That’s true. It’s also true that Samson has been paid off by Tether, which I believe will end up being the biggest financial fraud in human history.

Correction 2nd biggest fraud, behind central banking.

Volatility isn’t the issue. “An exchange that lists bitcoin-based exchange-traded products (“ETPs”) can meet its obligations… by demonstrating that the exchange has a comprehensive surveillance-sharing agreement with a regulated market of significant size”.

Tether. Remove tether, root out tether, and we will have our spot ETF.  Why is Tether a problem for a spot ETF, but not for the futures ETF?  Because you don’t understand they printed fake money then used that money to pump the markets. And don’t compare Tether to FED, please.

People can get SATS directly and the cost of carrying is low so an ETF doesn’t provide much additional value for most people compared to other asset classes.

Grandma can’t sign up for an exchange, do KYC, buy Bitcoin & then withdraw to her wallet & look after her private keys. Grandma wants an ETF, so it’s easier for her.

And they just accepted a bitcoin miner ETF, which is way more volatile than spot BTC.

At least the miners can hold spot bitcoin. The futures ETFs were a major “real-Bitcoin” demand suppressor.

This wasn’t planned.  Of course, I don’t understand people who buy fake assets, which aren’t backed fully and trusted as the investment.

At the time of going public, FB was a social media network that didn’t affect demand for the world reserve currency. Had libra/Diem been their flagship then, I imagine it had been a different story. Why would a currency-issuing country increase exposure to a competing currency?

SEC is delaying spot ETF to make sure that fiat music will not stop before CBDCs are launched. Everyone, even SEC, understands that it will be bullish for Bitcoin and will accelerate the timeline.

It’s not the volatility, it’s the custody. The SEC isn’t competent enough to audit for secure custody and I think they know that.

It’s just a matter of showing ETF can sign with a key controlling stake. The issue is more around liquidity and fraud, from what their notice said, not sure what they imply, possibly want to clarify what level of liquidity and KYC/AML is required. And, not set precedent for shit coin.

Because they’re scared. We have tons of oil ETFs, many leveraged 3x, while it is controlled by a cartel, and its price went negative less than a couple of years ago. Insane!

Though the ETF settles in $USD Bitcoin itself undermines that most powerful weapon the State has at its disposal. Bitcoin exposes all fiats as the currency of banana republics.

I suppose that, despite the horse being alluring, they’re trying to not let it into the city… it won’t work.

Because the ones that can take advantage of those types of moves don’t own enough BTC yet, once they hold the majority watch how fast they change their minds.

Because Bitcoin means doom for fiat organizations which hold all of the strings when it comes to the ones in charge of approving such ETF.