Crypto supporters weigh ETF rejection-Veteran Trader Peter Brandt says that Bitcoinen should stand against Bitcoin ETFs in the USA-
Crypto supporters weigh ETF rejection-Veteran Trader Peter Brandt says that Bitcoinen should stand against Bitcoin ETFs in the USA-
After the rejection of the Bitcoin Spot Market Exchange Traded Fund (ETF) by Vaneck by the Securities and Exchange Commission on Friday, a number of supporters of cryptocurrencies discussed the topic this weekend. For example, experienced FX dealer Peter Brandt told his 581,700 Twitter followers that Bitcoin-Maximalists should "reject" a Spotmarkt bitcoin ETF. Bitcoiner Preston Pysh said Bitcoin could take less care of the approval of a spot ETF.
crypto community is discussing the recent rejection of Bitcoin ETFs-Peter Brandt says: "Don't let the Wall Street encourage us to convert Bitcoin into a machine asset"
In the first week of November, the US legislators The Securities and Exchange Commission (Sec) to approve Bitcoin Spot Exchange Traded Funds (ETFs). But on November 12th the US regulatory authority rejected vanecks Bitcoin-Spot-ETF and cited a lack of prevention compared to "fraudulent and manipulative actions and practices" on the market. The rejection also follows the approval of the first Bitcoin ETFs based on the derivative markets of the crypto asset, especially futures.
In fact, the ProShares Strategy Etf debut A volume of almost 1 billion US dollars achieved and recorded for previously listed stock markets. Then SEC chairman Gary Gensler told the SEC a bitcoin-futures version an ETF approved. After the rejection of the Vaneck-Bitcoin Spotmarkt ETF, a number of supporters discussed digital currencies on the situation. The experienced foreign exchange and cryptocurrency dealer, Peter Brandt , tweeted on Saturday that Bitcoin supporter should reject a Bitcoin-Spotmarkt-ETF.
"IMO, Bitcoin-Maximalisten should reject spot [Bitcoin] ETFs in [the] USA", Brandt called . The history of Bitcoin's value storage depends on its scarcity and even some difficulties when buying. Do not encourage us to convert the greedy, hungry of the pit to convert btc to a automatic asset. Say no to ETFs, ”added the analyst.
Preston Pysh: "Bitcoin literally celebrates corruption and manipulation"-Bitcoin prices by futures dampen
hosts of The podcast of the investor (bitcoin basics), Preston Pysh , also discussed the refusal of the SEC on social media. "The SEC is making decisions about the Bitcoin-Spot-ETF, which will benefit Hedge funds at the expense of private investors", Pysh called . "Gary Gensler, Hester Peirce is not the opposite of what you should do? We want to answer. Your decisions increase the distrust," noted the podcast moderator. Pysh also said that Bitcoin could worry less about the SEC decision and specified :
Here are the beauty people. Bitcoin gives 2 shit about the approval of a spot ETF. The custody costs almost nothing and is done in 10 minutes. They fight for a watch - tick, bite, tick ... This thing literally eats corruption and manipulation and boy is full.
Some people argued that Bitcoin futures were easier to manipulate and therefore the US government has approved the derivative version. "The Sec refused a place [Bitcoin]. Why the? Because Futures imo is easier to manipulate" is the name of the Twitter-Handle " meme Sergeant Spliff wrote "The head of the CFTC can be used. What do you mean. Have Bitcoin together?
In the meantime, most crypto dealers pleased that the rejection "had no really bad price". Many others shared the opinion that Bitcoin "does not need a spot ETF". "As long as the real bitcoiners continue to buy and hang around", Rodolfo Martinez wrote . "This rocket flies to the moon and beyond." What do you think of the recent opinions this weekend that the SEC rejects Vaneck's Bitcoin Spotmarkt ETF? What do you think of Peter Brandt's statements about resistance to a spot ETF in the USA? Let us know your opinion on this topic in the comments below. Bedy verification : Shutterstock, Pixabay, Wiki Commons
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