[son of terrence]

The SEC regulates based on merit and/or disclosure. If it approves a spot bitcoin ETF to be traded on the NYSE it will have failed on both accounts. There is no merit to allowing a non-asset (it is only a number which is backed by nothing) to be sold to investors. We might as well start selling shades of colors on exchange next. As to disclosure, how can you list and trade something without first disclosing who created it and why? Who maintains it? If this turns out to be a manipulated security, as one could reasonably expect, the sponsors should be liable for all losses because of knowingly faulty disclosure. They are not disclosing the true nature and provenance of the product. This is all about the managers ability to sell crap to a wider array of investors for a fee. This is no investment. Nobody in this case is lending money through equity or debt to help a company build a business. This is a pyramid Ponzi scheme and they haven't even disclosed its true founding story.

[Theoria]

[Vermont Lt]

As with any asset, you need to understand what it does, what it doesn’t do, and who controls it. For instance, who controls gold? Iron?

And ETF will give some semblance of “control.”

Currently very few people own bitcoin. I cannot imagine millions deciding the morning after an SEC approval that they absolutely MUST get in on it. Honestly, I expect a bump up in the price, followed by another short crash as the short term holders bail out.

Bitcoin has returned pretty decent annualized growth over the past ten years. It might just be “a number”, but that number seems to just keep growing. My bank account thanks you for that.

[V_TWIN]

“This is a pyramid Ponzi scheme and they haven’t even disclosed its true founding story.”

I watched this a few months ago. It only confirms your comment and what I already suspected all along.

https://youtu.be/qk4gZrBR9CU?si=f9zD_atz_3BB9f6m