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Latest Bloomberg Report Suggesting SEC Isn’t Likely To Block Bitcoin Futures ETF Plus SEC Tweet Regarding Bitcoin Futures Takes BTC Above $59k

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The U.S. Securities and Exchange Commission is said to be allowing the first Bitcoin futures exchange-traded fund (ETF), per a Bloomberg report.



The publication said in a report on Thursday night:

“The regulator isn’t likely to block the products from starting to trade next week, said the people, who asked not to be named while discussing the decision.”

The report came several hours after the SEC said in a tweet through its investor education account that “Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits.” 

 

Bitcoin futures ETFs are different from Bitcoin ETFs in that they are based on futures contracts and are filed under mutual fund rules.

The United States Securities & Exchange Commission (SEC) has posted a tweet about weighing the risks and benefits of investing in a fund that holds Bitcoin futures. The post sparked speculation within the cryptocurrency community that the securities regulator may approve a Bitcoin exchange-traded fund (ETF).




 

Analyst suggests odds of Bitcoin ETF approval at 85%

The US SEC’s Office of Investor Education and Advocacy wrote in a tweet and informed investors that they should “weigh the potential risks and benefits” before investing in a fund that holds Bitcoin futures contracts.

The tweet refers to an investor bulletin that was published by the office in June, telling investors to examine the potential risks involved with investing in BTC futures through funds.

The crypto community started to speculate that the SEC will soon approve a Bitcoin futures ETF. In addition, the regulator is facing many deadlines this month for the Bitcoin ETF proposals various companies put forward earlier this year.

Eric Balchunas, a senior ETF analyst at Bloomberg, commented that the SEC tweet was a “good sign” and that the odds of the regulator approving a Bitcoin ETF is now at 85%.

He added that Valkyrie recently updated their Bitcoin futures ETF prospectus, suggesting that the US is inching closer to a BTC ETF being approved as companies only update their prospectus when their ETFs are almost ready for launch.

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Albert Brownhttps://thecryptobasic.com/
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

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