- The US SEC could authorize Bitcoin ETF operation in the coming week.
- ProShares Bitcoin Strategy ETF could be the first to launch according to ETF analyst Eric Balchunas.
There is a likelihood that the US Securities and Exchange Commission (SEC) could finally endorse the long-awaited Bitcoin Exchange-traded fund (EFT) next week. As a report has it, the digital finance world should expect nothing other than to wait for the SEC approval possibly from Monday onward.
The regulator isn’t likely to block the products from starting to trade next week.
In detail, Bloomberg Senior ETF analyst Eric Balchunas is also super confident about the matter. With much enthusiasm, Balchunas mentioned that even ProShares Bitcoin Strategy ETF could be the first project to go live when the time is due.
In addition to what Balchunas said, he even noted that the Invesco Bitcoin Strategy ETF could also be the next groundbreaking EFT to be approved the following day.
Apart from this, he further made more emphasis in a tweet confirming the incoming SEC-Bitcoin ETF approval. “Pretty much-done deal. Expect launches next week,” before adding the “odds now over 90% IMO.”
JUST IN: Bitcoin futures ETFs said not to face any opposition at SEC, according to multiple sources confirming this (aside, I’m hearing same thing). Pretty much done deal. Expect launches next week. Nice late night story from @kgreifeld @VildanaHajric @benbain pic.twitter.com/axT6ME4MeI— Eric Balchunas (@EricBalchunas) October 15, 2021
Expanding further, SEC chair Gary Gensler has also called for funds particularly on CME-traded Bitcoin futures. On the other hand, many believe that this upcoming ETF will push Bitcoin’s (BTC) price in a bullish mode.