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S.E.C. Ready To Green-Light First Ever Bitcoin Futures ETF


Bitcoin investors will be happy to hear about this.

Aside from the stellar price action BTC has seen over the last week, and the break above $60,000, Bitcoin continues to see even greener pastures, and opportunities for investors.

The latest reports claim that The S.E.C. is ready to approve the first ever Bitcoin futures ETF, and it will govern it under the Future Investment Company Act.

Once the ETF is issued, we could see the price of BTC continue to climb in response to the news.

Here’s what we currently know:

Crypto Briefing came through with more details:

The SEC is currently processing multiple Bitcoin futures ETF applications, with a decision on four of them due this month.

According to the report, the financial regulator has no objections to approving the applications. Applicants include ProShares (due to be announced Oct. 18), Invesco (due to be announced Oct. 19), VanEck (due to be announced Oct. 25), and Valkyrie (due to be announced Oct. 25).

U Today had this to say:

The cryptocurrency community and the Bitcoin market are already reacting to positive sentiment coming from the potential approval of physically-backed Bitcoin ETFs.

If the SEC finally approves the long-awaited product, numerous experts expect massive institutional inflows to the cryptocurrency market.

This belief is being fueled additionally by the popular case of gold ETFs that bring $10 trillion to the market cap.

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