Crypto X

Bitcoin ETF

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    <p>Following Protos’ lengthy op-ed about last week’s erroneous ‘<a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> spot exchange-traded fund (<a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a>) approval’ tweet by Cointelegraph, the fund is once again making headlines for all the <a rel="noopener noreferrer nofollow" title="wrong" href="https://thebittimes.com/tag/wrong.html">wrong</a> reasons.</p>
    <p>This time, media outlets and online influencers have hooked into news that the fund was listed at the Depository Trust &amp; Clearing Corporation (DTCC).</p>
    <p>For those unfamiliar, the DTCC is the main method by which clearance and settlement of securities and equities (and other financial instruments) is conducted in the US. Unfortunately for <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> X (formerly <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> Twitter), the company has absolutely nothing to do with the listing process for <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a>s (or any stocks, bonds, etc, for that matter), so the rush to excitement was unfounded.</p>
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       Cointelegraph says Bitcoin ETF approved despite no proof
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Cointelegraph says Bitcoin ETF approved despite no proof” — Protos" src="https://protos.com/cointelegraph-says-bitcoin-etf-approved-despite-no-proof/embed/#?secret=JcFJa6jup8#?secret=yw5D8OSrmY" data-secret="yw5D8OSrmY" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
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    <p><em>Read more: Ether ETFs fail to spark interest in disappointing debut week</em></p>
    <p>Beside this fact, as reported by CoinDesk, the DTCC has had the BlockRock Bitcoin spot ETF listed on its website for months now. This means that <strong>the celebration wasn’t only for a ‘nothing-burger,’ but for a nothing-burger that’s been available for quite some time</strong>.</p>
    <p>Regardless, the enthusiasm and hype have repeatedly had clear market effects: Bitcoin shot up 5% when Cointelegraph falsely reported a Bitcoin spot ETF approval and yesterday it rose ~10%.</p>
    <p>It’s unclear if these jumps to conclusions and fake news will matter to the SEC and government regulators or <strong>if the gas tank on exuberance will hit empty before the <a rel="noopener noreferrer nofollow" title="ETF" href="https://thebittimes.com/tag/etf.html">ETF</a> is ever actually approved</strong>, but it’s been exciting either way.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-x-keeps-getting-the-bitcoin-etf-wrong-tbt67752.html">https://thebittimes.com/crypto-x-keeps-getting-the-bitcoin-etf-wrong-tbt67752.html</a></p>

Crypto X keeps getting the Bitcoin ETF wrong

TheBitTimes

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