Bitcoin ETF odds just changed dramatically

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markets and etf

The betting market for COIN ETF approval moved after Bats announcements started spreading on Reddit.

Posted on 23 February, 2017

If you subscribed to SEC email updates you may have been notified about this meeting memorandum regarding the COIN ETF on the 22nd February 2017. The meeting itself happened on the 14th of February.

On February 14, 2017 […] from the Division of Corporation Finance, met with the following individuals.

Cameron Winklevoss, Chief Executive Officer, Digital Asset Services, LLC; Tyler Winklevoss, Chief Financial Officer, Digital Asset Services, LLC; …

The discussion concerned Bats BZX Exchange, Inc.’s proposed rule change to list and trade, pursuant to BZX Rule 14.11(e)(4), shares issued by the Winklevoss Bitcoin Trust. __________

In addition to this, there is this another communication with the Bats:

Dear Mr. Fields:

On February 22, 2017, Bats BZX Exchange, Inc. (the “Exchange”) filed with the Securities and Exchange Commission (the “Commission”) Partial Amendment No. 2 to SR- BatsBZX-2016-30 in order to clarify certain points and add additional details to the proposal. Amendment No. 2 partially amended Amendment No. 1 to SR-BatsBZX-2016-30, which was filed on October 20, 2016 and amended and replaced in its entirety the proposal as originally submitted on June 30, 2016. The Exchange submitted proposal SR-BatsBZX-2016-30 in order to list and trade Winklevoss Bitcoin Shares issued by the Winklevoss Bitcoin Trust on the Exchange under Rule 14.11(e)(4). In order to provide notice for public review of this Amendment No. 2, in addition to posting on the Exchange’s public website, the Exchange is filing this comment letter with the Commission.

So close to the hard deadline it looks more than optimistic - the BitMEX odds for COIN approval changed once the documents started spreading:

In addition there is this Motley Fool podcast from 21st February 2017 dedicated to the Bitcoin ETF. It’s main point is that people kept saying things like ‘wow wait this is crazy, there’s not enough time I have tons of questions’ which is the typical situation that repeats itself whenever something innovative happens.

People always yell they have tons of questions even as it is already happening but they gradually turn silent as the novelty becomes normal. “And I think that’s what you’re seeing with bitcoin,” they say.

Gentlemen, place your bets.