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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.

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.

 

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 Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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