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Bloomberg Believes Securities And Exchange Commission (SEC) May Approve Four Bitcoin ETFs For The First Time By The End Of October

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By the end of October, the US regulator, SEC could approve four Bitcoin futures ETFs, according to Bloomberg.

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Read: JP Morgan Report Shows Institutional Investors Are Preferring Bitcoin Over Gold



A recent Bloomberg article reminds readers that the day is near on which the US Securities and Exchange Commission (SEC) headed by Gary Gensler must decide finally on the fate of Bitcoin ETF applications.

The applications were submitted in the format that is favored by the SEC. This year, SEC Chairman Gensler stated that Bitcoin ETFs applications should be submitted in compliance with the Investment Company Act of 1940 to safeguard investors.

Many Bitcoin ETFs for futures were submitted obeying this Act. Among them were filings from Mike Novogratz’s Galaxy Digital, Invesco, VanEck, etc.

Read: Bank Of America Report Shows 27% Of The United States Population Will Be Using Crypto In 2022

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Bloomberg believes that SEC may approve four BTC ETFs by month-end.

 

Bloomberg article says:

“After years of waiting for a U.S. Bitcoin ETF, the crypto community may finally get as many as four products in a matter of weeks.”

Read: US Justice Department launches a National Crypto Enforcement Team





ETFs are expected to be approved in late October. Bloomberg writes approval dates can be 18/10, 19/10, 25/10, or 1/11.

The highest probability of approval as per the Bloomberg article is for the Galaxy Digital ETF (50-1) as well as for the VanEck ETF (20-1).

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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