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10602321 No.10602321 [Reply] [Original]

Anyone waiting for an ETF does not understand what BAKKT did.

"The News" was BAKKT. We all got hung up on the Starbucks thing but we missed the most crucial part:

As of November, every fund manager can (and will) buy and hold Bitcoin for their clients. The bullrun has begun.

>> No.10602328

With BAKKT I can buy BTC direct on my discount brokerage, alongside my stock portfolio, it makes the ETF completely redundant. This news is absolutely earth shattering. Any mutual/hedge fund could easily add a BTC allocation alongside equities

An ETF is useful to buy a basket of assets or an index ($SPY $QQQ), or when something has physical constraints (Gold). BAKKT is proposing making settlement, storage and delivery as simple as it is for stocks. An ETF is a dumb way to buy BTC if you think about it.

>> No.10602335

https://bitcoinist.com/nyse-bakkt-bitcoin-etf-redundant/

>> No.10602340
File: 72 KB, 619x834, n o v o.png [View same] [iqdb] [saucenao] [google]
10602340

>>10602335
N O V O G R A T Z

>> No.10602350

>Medias only speaking about ETF fud
>Bears are ecstatic
>Muh strong resistance broken
>Let the market bleed and buy

>> No.10602364

>>10602335
lol trav. GUIDE ME TRAV

>> No.10602368

Shhhhhhh we don't want them to know ((them)) that we realise what it means

>> No.10602381

>>10602350

This. The bears have dug too deep. They fear what they have found in the depths of moria, what they awakened with their greed.

>> No.10602419

or it could just precipitate a huge dump

>> No.10602425
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10602425

>>10602419
The first thing everyone sees is BAKKT platform for crypto market. Institutions/WallSt want in on crypto but they're not going to use Normiebase. The fucking NYSE is launching BAKKT with DIRECT custody/liquid DMA access for these groups. The ETF is fucking nothing in comparison to the NYSE launching its own crypto exchange.

You really think they would be doing this if they thought crypto was over? Hell no. They saw how high it went without them and now that its back down they can see how much more money can be made.

>> No.10602440

>>10602425
>They saw how high it went without them and now that its back down they can see how much more money can be made.

they've been making this for over a year now.

>> No.10602770

>>10602425

>to the NYSE launching its own crypto exchange.

It will be for the fucking FUTURES, moron, not regular crypto exchange. Institutional clients have already access to futures.

>> No.10602805

>>10602770
Yes but deliverable futures... if you weren't such a normie you'd know what that means for the market.

https://medium.com/futuresin/bakkt-demonstrates-how-bitcoin-could-become-institutionalized-136ddab86718

>> No.10602808

>>10602321
It is my understanding that this is a derivatives market, it has nothing to do with current Bitcoin markets.

>> No.10602814

>>10602808
Again, please read to understand properly:

https://medium.com/futuresin/bakkt-demonstrates-how-bitcoin-could-become-institutionalized-136ddab86718

>> No.10602828

>>10602805
futures and other derivitives will fuck this market.
look at silver. it only has a market cap of $20 billion but because of futures and other derivitives it has a derivitives market of over $200 trillion. i.e. hodling silver is pointless because it isnt worth shit. this is what will happen to bitcoin. just be stuck at a $100 billion market cap.

>> No.10602840

>>10602828
Its DELIVERABLE.

Holy shit anon.

https://jamapunji.pk/knowledge-center/difference-bw-cash-settled-deliverable-futures-contracts

>> No.10602868

>>10602840
being deliverable has nothing to do with it you mong. all futures contracts are deliverable by their very definition but people can still trade the futures contracts without holding on to them by the time they are settled which gives them a secondary market price. this, coupled with things like options fuck the market.

>> No.10602886

>>10602868
CME BTC futures are not deliverable.

>> No.10602899

>>10602381
I love you

>> No.10602907

>>10602814
I'm sorry but I can only handle limited amounts of irrational shilling. The amount of delusion on that post gave me cancer, also bakkt is a startup that wants to tackle Bitcoin futures (nothing new), not a cryptocurrency exchange. About the ETF, it won't happen, at least not this year.

>> No.10602925

>>10602828
>>10602840

Because it’s deliverable a lot of investors could get rekt if they speculate in the way they would a non-deliverable market. It’s like the difference between shorting and making puts.

>> No.10602972

>>10602868
>Fucking retard doesn't know the difference between being settled in cash and settled in Bitcoin
How are you people on this board?

>> No.10603034

>>10602972
Honestly.

>> No.10603182

>>10602868
No you retard it has everything to do with it, OP is absolutely correct.

That being said I'm not really sure if this is going to generate the same lvl of hype something like an etf might. Just because institutions can buy, if it doesn't get the hype of an ETF they probably won't be inclined to.

I hope OP is right though good thread interesting info

>> No.10603206

>>10603182
BAKKT will only accept purchases from acredited investors (over $200K). If 100,000 people buy 200k worth of btc at $5k each, thats 4M btc. Im bullish

>> No.10603246

ETF is huge because it is about SEC admitting that BTC is kinda safe and not a huge scam.

>> No.10604144

>>10602868
shut the fuck up you dumb cunt. stop talking about things when you have no idea how they work.

>> No.10604421

>>10602840
isnt gold deliverable? but nobody ever calls it, because its useless to actually hold.

>> No.10605056

>>10602381
Underrated post

>> No.10605805
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10605805

>> No.10605857
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10605857

let's go Tommy!

>> No.10605962

Then why is this dumping and almost at its yearly low? Surely the market can't be that manipulated or dumb?

>> No.10606178

>>10605962
It makes perfect sense though.

>> No.10606250

>>10605962
>Market can't be this manipulated or dumb
When CMC took the Korean markets out of the calculation because they always traded at a 2K premium the actual price of BTC dropped nearly $500 if I recall correctly because of people panic selling upon seeing that the price of BTC dropped about 1K on CMC because of the lack of Korean exchanges.

The market is dumber than you can comprehend.

>> No.10606508

>>10602381
?The price crashes its a win win regardless.

>> No.10606935

>>10602328
So why isn't it pumping?

>> No.10606939

>>10602321
Seriously, everyone seemed to miss how much BAKKT is a game changer. It works fully within the BTC ecosystem which means a huge spike in real world use and activity of BTC. We are now in the last downturn before the golden bull begins. You better be packing your bags or you are going to be left behind.

>> No.10607003
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10607003

>>10602335
wow, some internet fuckwit called parabolic trev has spoken via the medium of twitter
BUY 'EM, GRAB EVERYTHING THEY'VE GOT, BUY EM NOW

>> No.10607125

How will this affect Chainlink? I do not see Bitcoin getting the same technological base that Chainlink has very quickly, but if its usage in general transactions were to increase, well, the future might be grim for my Linkies.

>> No.10607166

>>10602321
This is the most bullish news of the year, easily. We're in the final bear period, Nov Dec is golden bullrun time.

>> No.10607383

>>10603246
So what you are saying is that the SEC will never approve of it. The SEC will never admit they are wrong and even more importantly, will never approve a currency that directly undermines the US government and financial system.

>> No.10608069

>>10602321
https://www.bakkt.com/index

My eyes bleed
Also, wtf is that shit about art, hasn't got fuck all to do with crypto. Fucking fembots.

>> No.10608162
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10608162

this is it boys

>> No.10608166

>>10606935
because the investors want to buy for cheap so they manipulate the price like this.

>> No.10608259
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10608259

>>10602321
>>10602328
>>10607166

>> No.10609274

>>10602925
>making puts.
what is this?

>> No.10609626

>>10609274
Long dated options that predict that the price will go down. Rather than actually shorting a stock, which sells I'm selling a stock for $X today and buying it for $Y at a future date, options allow for the option of buying later and paying an upfront premium for that option.

>> No.10609748

>>10607125
CAN YOU FOR ONCE FUCK OFF OR JUST SHUT UP?
We‘re having the one useful weekly thread and you have to take a dump in it.