Is SEC Holding Bitcoin ETF Hostage Until their Crypto and Exchange Demands are Met?

While SEC talks about risk protection for investors, there are in reality many assets that are riskier than spot ETF. A mention is being made to how the SEC permitted SPAC to take Bakkt Public eventually allowing it to crash by 91% Thus, pointing to how SEC has been bragging about risks in crypto space, but in reality, they are permitting assets which are even riskier.

Travis Kling Shared: The SEC let a SPAC take Bakkt public and then crash 91% in three months but we can’t have a spot Bitcoin ETF.

Bakkt Holdings, Inc. is an American corporation listed on the New York Stock Exchange under the ticker symbol BKKT. The company operates a technology platform that enables consumers, businesses, and institutions to unlock the value of digital assets.

A SPAC – special purpose acquisition company, also known as a “blank check company”, is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making it public without going through the traditional initial public offering process.

COMMUNITY RESPONSE:

You absolutely can have a spot Bitcoin ETF after you get rid of Tether and other Stable Coins. Is that not enough of a motivation?

The SEC doesn’t let citizens invest in startups.  It lets VCs take those startups public for exit liquidity once they’ve UNICORNED to dump on citizens, and looks the other way constantly as markets are manipulated psychologically with volatility and directly with convertibles.

They’re a joke. SECGov do something helpful for a change and stop just being a rich man’s crony “regulator” with a revolving door into corporate exec positions

A Spot ETF only benefits the Fund Manager as they would be the ones owning BTC with other investor’s money. When people begin to be paid in BTC and spend it because of its deflationary properties, the ETF will look then very stupid.

Now everyone wants Spot ETF Think twice: ETFs are just Tradfi Crap.  If you want BTC “exposure”, just buy bitcoin, you don’t need your government’s govt permission to do so.

It’s because they’re holding the spot BTC ETF hostage until their “crypto” issues and exchange demands are met.

The SEC also approved a “BTC futures ETF” that trades in relation to a “spot market” that’s apparently too unregulated and manipulable to allow the approval of a “BTC spot ETF.” Irreconcilable.

How can Gary Gensler and the SEC Gov continue to make up stories, and then expect the public to buy them? How can the “futures ETF” be acceptable if it’s based on the “Bitcoin Spot Price” but there’s no spot bitcoin ETF? I’d like to hear Gary Gensler explain this in a court of law.

Because there’s no accountability for anyone in government. They can literally do whatever they want, and say whatever they want, and no one will do anything. When you realize we are just slaves to those in power, everything makes perfect sense.

Do we really want a spot ETF? Wreaks of manipulation. Is a Gold ETF backed by physical Gold? No. Gold price is manipulated.

BTC price is already manipulated. It was inevitable when massive liquidity providers entered the space

Pushing great new technology into an outdated system is not a progressive idea, contrary it leads to a collapse of both. Changing the system from the inside never works. Some systems need to collapse and new ones need to grow independently.

At this point, there’s like >1000 things the SEC is OK with that are riskier than a spot bitcoin ETF.

It is amazing that a person like Gary Gensler that should do the impossible to bring “fair regulation” for the crypto sphere, has changed his agenda. He mutated, & left with no ideals, ethics, etc. Wishing everyone successful trades no matter if bulls or bears.

Institutions need the ability to print Bitcoin beyond the 21 million limit to allow them shorting control. Once that’s sorted (Perhaps a restricted token backed 1:1000 by SEC certified institutions).  They should be happy.  They’re protected from any retail short squeeze risk.

This has nothing to do with investor protection. This has to do with the SEC not being able to monitor the Bitcoin markets to enforce sanctions. This is about authoritarianism, which is the only reason why the SEC exists today.  All people in financial, be it crypto or otherwise, should come together and ignore government and their corrupt institutions.