Bitcoin futures ETF may get SEC approval in October, analysts predict
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Bitcoin futures ETF may get SEC approval in October, analysts predict

Saudu Clement
Saudu Clement

According to Bloomberg ETF analysts, the launch of Bitcoin futures ETFs on US soil could come as soon as October.

Eric Balchunas and James Seyffart, both ETF experts with Bloomberg, released an investor note on Tuesday suggesting that the United States Securities and Exchange Commission could approve a Bitcoin ETF after VanEck and ProShares abruptly withdrew their Ether futures ETF proposals. 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 is quite confident that ProShares’ Bitcoin future ETF will be among those to be approved by the U.S. securities regulator. “We think Ether withdrawal shows SEC has nose in this rn and is in reg contact with issuers which should mean any kinks ironed out so that they can launch 75 days after filing,” he opined.

Two days after submitting the paperwork for their Ether ETFs, VanEck and ProShares withdrew their applications. However, their Bitcoin ETFs are still active and await the approval of the SEC.

SEC Chair Gary Gensler recently hinted at the possibility of approving a Bitcoin futures ETF under the Investment Company Act of 1940. He also admitted that Bitcoin was as real as it could get, although volatile.