The increased expectations of an imminent futures-based ETF’s debut on the US markets have spiked activities on the CME this month even though many experts also attribute the new development to stronger participation from state-side institutional investors.
After the hint dropped by Grayscale, a Twitter user ‘svrgnindividual’ raised concerns about the restructure’s impact on investors holding Grayscale’s Bitcoin Trust shares.
The Bitcoin community is expecting a Bitcoin ETF to begin trading today or tomorrow. BTC price is moving higher in anticipation of the launch.
Since the news broke out that the SEC could be set to approve a Bitcoin futures ETF application, the flagship crypto asset, for the first time since its April crash, managed to go above $60,000 again.
The latest Bloomberg report suggests that there will be no opposition by the US SEC in approving the upcoming Bitcoin futures ETF.
As Bitcoin nears $60K and looks to scaling its previous all time high, members of the community are hopeful for a US Bitcoin ETF approval.
The rumors of a delay in the approval process of the Bitcoin futures product can end up bad for the Bitcoin price, as investors were keen on buying BTC, expecting an ETF approval in October.
The Bitcoin Revolution ETF from Volt will track the companies that have a significant number of Bitcoins on their balance sheet.
Bloomberg’s senior ETF strategist notes that there are high chances of Bitcoin ETF approval in the US this month. It looks like this could be a major trigger to the next bull run.
The SEC boss has doubled down on support for a Bitcoin futures ETF despite not yet approving multiple applications that had been already submitted.
The report attributed a large part of growth to the launch of VC and crypto hedge funds between 2017 and 2018 which subsequently saw the total AUM of crypto funds nearly double year-over-year from 2019 to 2020.
VanEck is preparing for the Solana-backed ETF through a listing in Germany, thanks to the growth of the layer-1 protocol in the recent past.
Known for its funds cutting across the decentralized finance (DeFi) ecosystem, the Bitwise Bitcoin ETF product, if approved, will also explore investments in safer financial instruments.
Fidelity executives also highlighted the massive adoption of Bitcoin across the world and, particularly, in the United States as another reason why the commission should be thinking of approving a Bitcoin ETF.
According to Sonnenshein, the SEC would be making a mistake if it approves Bitcoin-based ETF in the US before granting approval for one tied to the crypto itself.