Excellent! Thank you for all your efforts in creating this list. I am surprised to see the list of physically backed ETFs but unfortunately none of them are approved till date which is a matter of concern. Because only these type of ETFs have the power to drive the bitcoin market to another level. Derivatives bases ETFs makes little sense because it won't drive any demand in the market.

Does SEC have any issues with physically backed ETFs? Even in 2020, they had rejected quite a few physically backed ETFs.

Please keep this list up to date as and when information pours in.

If Physically Backed ETF will be approved, will the current Bitcoin price volatility will gonna lessen? Sec will surely monitor and implement guideline to address issue before they start approving this ETF filing because they will ensure that this is safe for consumer investment. I'm not knowledgeable enough on how ETF so maybe there's a flaw on my opinion.

I know for sure that there are some ETF filings especially in the SEC but I am surprised that there are actually a lot and so far not a single entity got the final nod or approval of the agency. I surmised that the biggest reason for this non-action is the fact that the regulatory framework for cryptocurrency is not that yet established. That famous infrastructure Bill included the cryptocurrency industry for the sake of getting more taxed and it is not well-studied...let's hope that there will be a more comprehensive bill dedicated to this expanding industry so as to clear confusion and ignorance.

If I'm not mistaken, the whole procedure can take up to 240 days when the SEC has a deadline to publish the final decision, and we have the final date for each of the applications with 19b-4. Accordingly, I think we should focus on that deadline, because it is the only important thing - but another important thing is that very few really believe that the SEC will accept any request if we take into account everything that is currently happening in the US regarding cryptocurrency.

It's a bit strange for someone to make such a move, but obviously, there are some truths in the article you linked to - because there is speculation that the reason for giving up in such a short time came precisely because the SEC suggested so. Although it’s a little weird that both companies didn’t have that information before submitting the application.


My opinion goes in the direction that there has been some confrontation between the BTC ETF application and this one regarding ETH - maybe this is a kind of signal that the SEC is still considering a positive decision regarding the first BTC ETF.

It has been speculated that publishing such news (when it comes to US-based BTC ETFs) would be something that would significantly affect the price of Bitcoin - although I’m not sure if the effect would be the same given whether the accepted ETF is physically or derivates based. The first makes a big difference because it is backed with the actual BTC that the company has to buy on the market, and the second is of course different from that because it allows investing in BTC without the company investing in it at all.

Yet some influential people from the crypto community don’t think the BTC ETF is a good idea, and among them is @theymos who made an interesting comment on what Andreas Antonopolous posted about it. Although it should be borne in mind that this is an opinion given 3 years ago, so I leave the possibility that today they may think differently.


Andreas Antonopolous: ETF's are NOT good for bitcoin as the centralized custodian can decide what to do with the bitcoin they're holding.

an ETF is not the same market as the bitcoin market.
the bitcoin market can and will change with ETF precent

what you will find is that for every bitcoin it will represent as say 10000 shares of an ETF

meaning if the price changes from $49k-$51k on the bitcoin market
it will only appear as a $4.90-$5.10 change on the ETF share market
something they can handle

..
as for what to expect when the first ETF is approved
well two things
if that approved ETF has not bought large yields of bitcoins to custodian-ise. they will.
also the other companies will see the approved ETF application and use it as a template for how they set their business. afterall why confuse regulators. just copy and paste the approved one. and boom. next one gets approved as its the same thing(pretty much an auto accept)

you will see a few ETF jump in in quick succession offering the same proposal and needing to then grab up lots of bitcoin to fill their custody trusts.

so the bitcoin exchanges will see a jump in price with large yield coin buy-ups

Invesco/Galaxy just filed for a physically backed Bitcoin ETF.

Source: https://twitter.com/JSeyff/status/1440426226728853505


I will update the table tomorrow.

As the amount of fiat increases that goes into bitcoin, it will help reduce volatility because as the market increases, the amount of bitcoin or fiat that is required to move the market will increase also. 

The SEC always claims to be about protecting investors, but in reality they are more of a CYA entity.  How else could they miss Bernie Madoff for decades?  How else could they miss Stanford Financial?  They talk a good game, but are really more reactive than proactive.  I hope they approve one, but if the last ~8 years is any guide, it will be only when they are dragged kicking and screaming to do it.

SEC delays again the result of 4 Bitcoin ETF for another 60 days. List of the following ETF below:

• Kryptoin Bitcoin ETF
• WisdomTree Bitcoin Trust
• Valkyrie XBTO Bitcoin Futures Fund
• Global X Bitcoin Trust

Maybe this is the reason why Bitcoin is pumping hard. Another room for possible hype before the result of approval on ETF application. Whales well played on this part.

Source: https://finance.yahoo.com/news/sec-stalls-again-four-bitcoin-194923376.html