By the end of October, the US regulator, SEC could approve four Bitcoin futures ETFs, according to Bloomberg.
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
Bloomberg believes that SEC may approve four BTC ETFs by month-end.
Four U.S. Bitcoin futures ETFs may be allowed for the first time, just weeks from today https://t.co/Jh6zhl6NTd
— Bloomberg Crypto (@crypto) October 8, 2021
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).
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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