Are we excited yet?

Anyone tempted to buy Sol? It was a coin flip for me to buy link or Sol. I went with link but don't want to feel like I missed the boat with particular with the pull back at the moment.

For real

Well this is it folks, the long awaited historical moment of institutional investment is here, does anyone have any timely profound comments upon this hour?

Will the next generation in 10-20 years look back at this moment and wish they could have been here with a bag of cash to invest?

ETF Approved

Well now we know what will happen when its announced after that brief pump and then dump again just then (funny the SEC cant secure their own twitter feed)

Such a clown show hahahahah

Very fishy, seemed to be the fastest recovery of an X account in history. Some serious money lost on longs there, a lot to answer for,

I’m not convinced on the dump as a natural course, there’s a good chance it was the realisation that the approval was fake, those in close proximity would have known prior to the actual Gensler tweet.

An interesting theory though is that if the money flows out of BTC it will flow into eth.

Now that BTC money has "gone into" Eth since the hacked tweet it will become a thing in crypto. The entire clownshow never stops being entertaining

How is ETH projected to do if and when a BTC etf gets up and running?

Approved (for real this time)

No dramatics, BTC going sideways and alts with a nice little gain

Not sure how that is likely in a bull market with etf's rolling and the impending fed pivot, plus the halving. Ok Gensler is probably going to go after dexs but he will be busy trying to keep his job at the same time. Its all about the next big thing now that etfs are out of the way, and the next big things are likely to come from dexs, ai, decentralized social media, utilities - imo alts thrive this year

Is this such a good thing? Are ETF fund managers under any obligation to back their products with actual bitcoin purchases? Will we see a situation now where money will pour into the etfs but not the crypto itself?? I'm a bit confused by the whole thing.

The only immediate benefit I see is that we are a bigger step towards adoption (but this is inevitable anyway)

There's something a bit off for me (or at least a gap in my understanding). If Blackrock, for example, buys $5 billion worth of bitcoin tomorrow. Over the next 6 months, ETF enthusiasts put $10 billion collectively into the ETF product. There is now a mismatch between the amount invested in the ETF and the amount of Bitcoin Blackrock are holding. Blackrock will then have to decide, do we buy lots more bitcoin in anticipation of more money going into the ETF or do we take a more cautious approach and buy less given the price could plummet.

Another, even more scary scenario is if Blackrock overinvest in bitcoin and find that there is nowhere near as much interest in the ETF as they anticipated. They would then need to sell a huge clump of their holding to off-risk, which could send the price downwards. So in effect, this news may only introduce more intense volatility in the short term.

As I said, I'm not hugely familiar with how ETFs work and I'm sure this predicament arises with other ETFs too. But it seems this could give the fund managers a lot of control over the price and/or supply!!