For years, crypto investors have been eagerly awaiting the possible approval of Bitcoin (BTC) Equity funds by US Securities and Exchange Commission (SEC). This body has repeatedly postponed the deadline for the possible approval of decent ETFs, but now there is a final deadline on the horizon.
Bitcoin futures ETF
Four bitcoin futures ETFs will receive a decision by the Securities and Exchange Commission (SEC) this month. This is the ProShares Bitcoin Strategy ETF, Invesco Bitcoin ETF StrategyAnd VanEck Bitcoin Strategy ETF employment Valkyrie Bitcoin ETF Strategy.
If the SEC gives the go-ahead for these listed funds, it will be the first of its kind on US stock exchanges. The crypto community around the world will warmly welcome this development.
ETF Analyst from BloombergJames Seifart said he believes the SEC will likely approve these four ETFs. It is reported that SEC President Gary Gensler recently noted that Bitcoin futures products have been well received by the Securities and Exchange Commission.
According to Gephardt, it would be very strange for Gensler to do in September Initially, he indicated that the Bitcoin futures ETFs had been viewed favorably by the body, then those ETFs were rejected a month later.
Another ETF analyst, Nate Geraci, says the same thing. According to him, it is illogical and unfair to make such a positive statement about bitcoin futures ETFs and then do the opposite.
He also notes that this is a good way for the SEC to win the hearts of the crypto community:
“The approval of Bitcoin ETFs based on futures appears to be an easy way for the SEC and Gensler to win and appear progressive on crypto.”
Not everyone is feeling equally positive about the Securities and Exchange Commission’s upcoming decision regarding bitcoin futures ETFs. There are also analysts who expect the SEC to first have a detailed regulatory plan for the cryptocurrency industry on the table.
“Total coffee specialist. Hardcore reader. Incurable music scholar. Web guru. Freelance troublemaker. Problem solver. Travel trailblazer.”