SEC Could Approve Bitcoin Futures ETF As Per Analysts Predictions

The SEC could approve Bitcoin futures ETFs according to a Bloomberg analyst who predicted that this will happen at once to avoid handing out the first-mover advantage so let’s read more in today’s Bitcoin news.

The United States Securities and Exchange Commission is likely to approve a BTC ETF by the end of October according to the Bloomberg expert. Eric Balchunas who is a Bloomberg ETF analyst along with James Seyffart issued an investor note suggesting that the withdrawal of Ether futures ETF proposals by VanEck and ProShares could trigger an SEC approval of a bitcoin ETF. The analysts said:

“VanEck and ProShares’ rapid withdrawal of proposals for Ethereum futures ETFs is a good sign for a potential Bitcoin futures ETF, given the SEC has allowed those filing to remain active. A launch could come as soon as October, and we believe the SEC should permit several at once to avoid handing out a first-mover advantage.”

Balchunas noted that ProShares Bitcoin Futures ETF is among the proposals to be most likely approved by the US SEC regulator:

 “We think Ether withdrawal shows SEC has nose in this right now and is in reg contact with issuers which should mean any kinks ironed out so that they can launch 75 days after filing.”

The latest Bitcoin futures ETF forecast came shortly after the asset managers ProShares and VanEck withdrew their applications for an Ether ETF two days after filing paperwork with the SEC. However, plenty of other Bitcoin futures ETFs applications remained active with the asset managers like ProShres, VanEck, Valkyrie, and Invesco submitting their Bitcoin futures ETFs filings earlier this year. According to the analysts, the SEC could approve Bitcoin futures ETFs later this year and as previously reported, SEC chairman Gary Gensler suggested that the regulator could be open to approving these ETFs under the Investment Company Act of 1940.

As recently reported, Less than two days after submitting separate applications to the US SEC, asset managers ProShares and VanEck decided not to pursue exchange-traded funds with more exposure to Ether. In the individual, Friday filings with the SEC, the legal representative of ProShares and VanEck both said the companies elected not to proceed with registering the respective ETH-based exchange-traded fund. VanEck submitted the filing to launch an Ethereum ETF strategy with the SEC while Proshares applied the same day.