The US Securities and Exchange Commission (SEC) has approved the ProShares application to launch the Bitcoin Futures ETF. Trading starts on Monday, October 18th.

Also Read: Twitter CEO, Jack Dorsey Said Square Is Considering Building A Bitcoin Mining System

The deed is done. Home free… $BITO pic.twitter.com/Qf3U9quSfy

— Eric Balchunas (@EricBalchunas) October 15, 2021

The underlying asset of the fund will be Bitcoin futures on the Chicago Mercantile Exchange (CME).

Also Read: Edward Snowden: Government Digital Coins (CBDCs) Are A Conspiracy Against Society, And Will Ransom Our Future

Importantly. The new prospectus looks to have taken out the language for investing in Canadian ETFs. First is the new prospectus. Second is the old prospectus. pic.twitter.com/St7kvs3UyQ

— James Seyffart (@JSeyff) October 15, 2021

According to CoinDesk, the meeting of the five SEC commissioners on the ProShares fund took place on Friday, October 15th.

Coindesk writes:

“The Securities and Exchange Commission (SEC) greenlighted bitcoin futures ETFs in a first for the industry on Friday, after the regulator’s five commissioners met on the issue. ProShares, which filed for its Bitcoin Strategy ETF this past summer, may be the first to launch next week.”

Bloomberg recently announced that the SEC will not stop the launch of Bitcoin futures ETFs.

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

Nasdaq has also indicated its willingness to add a listing for a fund, the Valkyrie ProShares has also filed Form 8-A which registers ETFs shares with SEC for trading on an exchange.

Also Read: Morgan Stanley CEO: “I Don’t Think Crypto Is A Fad, I Don’t Think It’s Going To Go Away”

If anyone needs more evidence that this is happening on Tuesday. Proshares' 8A just hit which registers the ETF's shares with the SEC for trading on an exchange. pic.twitter.com/Idp6cm4qet

— James Seyffart (@JSeyff) October 15, 2021

Also Read:

• North Vancouver Will Be World’s First City Heated By Bitcoin
• Vladimir Putin: “Cryptocurrencies Have A Right To Exist And Can Be Used For Settlements”
• JPMorgan CEO Again Calls Bitcoin “Worthless”, Edward Snowden Respond

Jack Dorsey says that Square is “considering” building its own Bitcoin mining system using custom silicon and open-source software.

Read: Vladimir Putin: “Cryptocurrencies Have A Right To Exist And Can Be Used For Settlements”

“Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,” Dorsey wrote in a Twitter thread.

Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community. First some thoughts and questions.

— jack⚡️ (@jack) October 15, 2021

He added that such a project would follow a similar approach as the bitcoin hardware wallet Square began working on earlier this summer. But building a mining system would be considerably more complicated for the payments company than simply building a wallet. Creating custom chips is, as Dorsey points out, “very expensive,” and would be new territory for the payments company, which has been a major supporter of Bitcoin.

Read: Edward Snowden: Government Digital Coins (CBDCs) Are A Conspiracy Against Society, And Will Ransom Our Future

“Mining needs to be more efficient,” Dorsey wrote. “Driving towards clean and efficient energy use is great for Bitcoin’s economics, impact, and scalability. Energy is a system-level problem that requires innovation in silicon, software, and integration.”

Read: North Vancouver Will Be World’s First City Heated By Bitcoin

3/Silicon design is too concentrated into a few companies. This means supply is likely overly constrained. Silicon development is very expensive, requires long term investment, and is best coupled tightly with software and system design. Why aren’t more companies doing this work?

— jack⚡️ (@jack) October 15, 2021

As with his earlier tweets about plans for the hardware wallet, Dorsey didn’t share many details about how the mining system would actually work. But he said the goal would be to make mining more efficient and accessible to more people, which could address two of the most important issues related to cryptocurrency mining.

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

Bitcoin-related power usage has reached record highs in recent years, raising major concerns about the cryptocurrency’s impact on climate change. Mining has also driven up the prices and scarcity of GPUs, which has made it increasingly difficult for the average crypto enthusiast to mine on their own.

Read: Texas Senator Ted Cruz Proposes To Use Natural Gas For Bitcoin Mining

Our team led by @jessedorogusker will start the deep technical investigation required to take on this project. We’d love your thoughts, ideas, concerns, and collaboration. Should we do this? Why or why not? We’ll update this thread as we make our decisions. And now over to Jesse.

— jack⚡️ (@jack) October 15, 2021

“Bitcoin mining should be as easy as plugging a rig into a power source,” Dorsey said. Whether or not Square will be able to accomplish that, is less clear. He said that the company “will start the deep technical investigation required to take on this project,” and is hoping to hear feedback on the idea in the meantime.

Executive Director of the Bank of Japan, Shinichi Uchida, believes that the digital Yen should be as simple and convenient to use as possible, and it should be able to interact with all payment services. However, the decision to launch Digital Yen has not yet been made.

Read: Vladimir Putin: “Cryptocurrencies Have A Right To Exist And Can Be Used For Settlements”

According to a publication on the Bank of Japan website, Shinichi Uchida reports high demand for paper money in Japan and suggests that the situation is unlikely to change in the near future.

However, issuing cash always implies certain costs, so the central bank is considering replacing them with state digital currency.

Read: Edward Snowden: Government Digital Coins (CBDCs) Are A Conspiracy Against Society, And Will Ransom Our Future

First of all, it is necessary to ensure the convenience and safety of consumers. Uchida explained that if stores and restaurants have difficulty using cash, the country will be forced to switch to the digital Yen.

“Wouldn’t Japan be at a disadvantage in the financial market if it doesn’t launch state-owned stable coins?” Uchida continues. “Will Japan be able to interact on equal terms with other countries if digital currencies of central banks become commonplace?”

Read: North Vancouver Will Be World’s First City Heated By Bitcoin

Uchida said that the digital yen should be as simple and convenient to use as possible, and its infrastructure should be compatible with any payment service.

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

“The Bank of Japan has no plans to issue its own digital currency yet. But taking into account the fact that serious research on this topic is already being carried out all over the world, it is not feasible for us to keep out of the race”.

If the decision is made not to launch the digital yen, then we need to think about how to create a payment ecosystem that will meet the requirements of the digital society, said the executive director of the Bank of Japan.

Read: Texas Senator Ted Cruz Proposes To Use Natural Gas For Bitcoin Mining

In March, Bank of Japan Governor Haruhiko Kuroda said the central bank could begin testing the digital yen as early as this year. However, according to Hideki Murai of the Liberal Democratic Party of Japan, lawmakers will only get a clearer picture of the digital yen by the end of next year.

MintGreen has partnered with Lonsdale Energy Corporation (LEC) to provide more than 100 buildings in North Vancouver with energy systems generated from Bitcoin mining to heat commercial and residential buildings.

Read: Vladimir Putin: “Cryptocurrencies Have A Right To Exist And Can Be Used For Settlements”

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

Canadian mining company MintGreen will supply North Vancouver residents with energy generated from Bitcoin mining starting in 2022, according to the statement.

We are excited to announce that MintGreen will be providing low carbon heating at scale to North Vancouver, making them the first city in the world to be heated by #Bitcoin ?⚡⛏️ https://t.co/fD8PHkfGNK

— MintGreen (@MintGreenHQ) October 14, 2021

As per the announcement:

“In 2019, the City of North Vancouver Council passed a motion for the City to increase its greenhouse gas reduction targets to achieve net-zero by 2050, and reduce emissions by 80% below 2007 levels by 2040.”

Read: Edward Snowden: Government Digital Coins (CBDCs) Are A Conspiracy Against Society, And Will Ransom Our Future

MintGreen said the company’s “digital boilers” could recover more than 96% of the electricity used to mine BTC as heat. This will prevent 20,000 tons of greenhouse gases from entering the atmosphere.

Their release said:

“MintGreen proprietary Digital Boilers recover more than 96% of the electricity used for bitcoin mining in the form of heat energy that can be used to sustainably heat communities and service industrial processes. Cryptocurrency miners run at full capacity 365 days a year, which creates the unique opportunity to provide a reliable and clean heating baseload for North Vancouver’s district energy system.”

The statement also said:

“The LEC is on a decarbonization journey to implement more renewable and clean energy, transitioning from the use of conventional natural gas,” says the announcement released today.”

Read: JPMorgan CEO Again Calls Bitcoin “Worthless”, Edward Snowden Respond

Lonsdale Energy Corporation CEO, Karsten Veng, commented:

“Being partners with MintGreen on this project is very exciting for LEC, in that it’s an innovative and cost-competitive project, and it reinforces the journey LEC is on to support the City’s ambitious greenhouse gas reduction targets.”

The energy will be used to heat 100 residential and commercial buildings in the city of about 155,000 people. MintGreen CEO Colin Sullivan noted that the partnership is aimed at addressing the challenges of climate change.

Read: Texas Senator Ted Cruz Proposes To Use Natural Gas For Bitcoin Mining

He said:

“The complex issue of climate change requires innovative solutions, and LEC, with the City of North Vancouver, is showing tremendous leadership in environmental stewardship.”

Morgan Creek Capital CEO, Mark Yusko believes bitcoin is the best form of money.

Read: Vladimir Putin: “Cryptocurrencies Have A Right To Exist And Can Be Used For Settlements”

During an interview with Cointelegraph (video Below), Mark Yusko shared his thoughts on gold, bitcoin, and other cryptocurrencies.

In his opinion, over time, Bitcoin will “absorb” the market capitalization of gold, as a result of which the BTC rate will exceed $500,000. If we talk about the short term, then Bitcoin may reach $250,000, Yusko suggested.

Read: Edward Snowden: Government Digital Coins (CBDCs) Are A Conspiracy Against Society, And Will Ransom Our Future

He also spoke about the development of the Internet of values. He compared SMTP to Filecoin’s decentralized file storage and HTTP to Ethereum. In addition to file sharing and the application layer, other cryptocurrencies will also play a role in the gaming industry, content management, finance, and more according to Yusko.

Yusko said:

“We use TCP/IP data transmission protocols, we have simple SMTP e-mail protocol and HTTP hypertext data transfer protocol. The Internet of values ​​will also be multi-layered, and bitcoin can become its baseline.” 

Read: JPMorgan CEO Again Calls Bitcoin “Worthless”, Edward Snowden Respond

The CEO of Morgan Creek has long been known as a proponent of Bitcoin and believes that this cryptocurrency should be in the portfolio of every investor. Back in 2019, he called Bitcoin an effective hedge against traditional assets.

Read: Texas Senator Ted Cruz Proposes To Use Natural Gas For Bitcoin Mining

Earlier, the head of Morgan Creek Capital expressed the opinion that the bitcoin price this year could reach $100,000, but so far his optimistic assumptions have not been justified.

Watch Video:

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.” 

Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits.

Check out our Investor Bulletin to learn more: https://t.co/AZbrkpfn8F

— SEC Investor Ed (@SEC_Investor_Ed) October 14, 2021

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.