Notes on ETFs for the community

So, the ETFs are delayed. Yet again. It comes as no surprise since we all were expecting the same. Yet the market dumped hard. You might have seen a correlation between the acknowledgement of Bitcoin by centralized organizations and the market reaction on it.

We still remember in 2016 or even 2017, when people gave a middle finger to regulation and institutions. Now everyone is begging and waiting for government approval.

We understand how much community perceives the importance of ETFs in Crypto but allow us to enlighten you, WE DON'T NEED THEM, INSTEAD THEY NEED US. But, apparently we are getting influenced by the same thing we swore to decimate in the first place. Yes, we are talking about centralized organizations and our strong craving for their acknowledgement. So, stop holding your breath and focus on what's important for a true decentralized world.

Also, Regarding the ETFs.

Do not expect a SEC decision on the CBOE (VanEck-SolidX) Bitcoin ETF in 2018.

We see people being disappointed about the SEC delaying the decision on the ETF from VanEck-SolidX when actually nobody should have expected the SEC to approve the first-ever Bitcoin ETF within the first 45 days after the notice was published.

Everybody should be aware that the SEC will and should take the time it is allowed to by law, which is 240 days (45 days for the first and second extension, 90 for the third, 60 for the last).

What to expect now:

1. News about rejected ETFs likely in late August (Proshares ETF)
2. Another series of news about Bitcoin ETF rejection in September (Direxion ETF)
3. Both of the above ETFs are not commodity-backed (instead, they're futures, at least the Proshares for sure) and thus, do not involve actually purchasing BTC. They could also be approved, but we don't think that's likely.
4. Final decision on the CBOE (VanEck-SolidX) somewhere around February-March 2019.

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