Cryptocurrency News

SEC May Approve Futures-based Bitcoin ETF, Bloomberg Analyst Says

The Securities and Exchange Commission has been provided with the proposal of a Bitcoin-oriented exchange-traded fund several times in the past few months, but it continues to reject each and every application and doesn’t seem to budge anytime soon. These traditional Bitcoin ETFs don’t seem promising to the SEC, and that is why a future-based Bitcoin ETF might get the attention of the board. According to Eric Balchunas, a crypto analyst, there exists a 75% chance that a future-based Bitcoin ETF might get approved.

He is currently working as a senior ETF analyst for Bloomberg. He says that United States is actively willing to accommodate a Bitcoin futures ETF, and it is scheduled to get a regulatory green light in the month of October. The start of October was very tedious for the Securities and Exchange Commission as it is once again not so sure about making the decision for accepting the Bitcoin-oriented exchange trade funds. The decision once again remained muddled as if SEC doesn’t even know if this thing should be given a chance or not; there is just a lot of panic and unnecessary confusion around this topic.

There is a substantial amount of applications that have already been turned in to the Securities and Exchange Commission regarding a Bitcoin-oriented ETF. The only change which is going to accompany in the upcoming months is that the Securities and Exchange Commission is actually going to work on these applications and process them all October through November. Eric, on the other hand, supports the idea of a future-based Bitcoin ETF because, according to him, it has a more vibrant chance of being accepted by the Securities and Exchange Commission.

The very reason is that the futures ETF’s are being filed under the 40 act, and it is very much alive right now, and there exists a fair chance of it being approved in October, in fact, a 75% chance for that matter. The USA will not remain buckled down or behind Canada anymore because it would have issued a Bitcoin ETF, which is something it never did in the past.

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