SEC may allow Bitcoin futures ETF to trade next week: report

According to sources reported by the financial media giant Bloomberg, the long wait for products traded on Bitcoin exchanges may soon end.

Bloomberg quoted “informed sources” as saying that the US Securities and Exchange Commission is preparing to approve the country’s first Bitcoin futures exchange-traded fund.

Anonymous source Said:

“Regulators are unlikely to prevent these products from starting trading next week.”

Futures products are likely to be the first products approved because regulators are more optimistic about them. Futures are managed by the Chicago Mercantile Exchange (CME), requiring investors to deposit cash on margin for trading.

Bloomberg senior ETF analyst Eric Balchunas believes that the ProShares Bitcoin Strategy ETF may be the first to be launched because the decision deadline is October 18. Unless the SEC further delays, the Invesco Bitcoin Strategy ETF may be approved the next day.

In a tweet on October 15, the analyst stated: “The transaction is basically completed. It is expected to be launched next week”, and then added “the possibility of IMO now exceeds 90%”.

SEC Chairman Gary Gensler expressed his support for the CME-traded Bitcoin futures fund based on the law of the 1940s, which increased the likelihood of the long-awaited approval.

related: The CEO of Volt Equity believes that SEC Chairman Gary Gensler actually supports Bitcoin

On October 14, Cointelegraph reported that Ark Investment cooperates with 21Shares Applying for an ETF that will trade Bitcoin futures indicates that they also believe that the product is about to be approved.

VanEck and Valkyrie’s ETF application deadline is also approaching on October 25, so there may be a large number of applications to enter the exchange in the next few weeks.

Monday, October 18th may be an important day for Bitcoin prices as the market continues to rise in anticipation of this landmark event. At the time of writing, BTC had just soared to $59,600 before falling back slightly. Coin Tiger.





Source link

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *