Bitcoin futures ETF can be approved by SEC in October

Bloomberg’s ETF analysts, Eric Balchunas and James Seyffart, aspects that the U.S. Securities and Exchange Commission (SEC) might approve a Bitcoin futures ETF by the end of October.

• As per the Tuesday tweets by Bloomberg’s analysts, the withdrawals of the proposal for Ethereum futures ETF by VanEck and ProShares add to the possibility of a BTC futures ETF by the SEC.

We think Ether withdrawal shows SEC has nose in this rn and is in reg contact with issuers which should mean any kinks ironed out so that they can launch 75 days after filing. Further, ProFunds' bitcoin MF was launched 77 days after filing. These are virtually same thing.

— Eric Balchunas (@EricBalchunas) August 24, 2021

• Balchunas believes that ProShares’ BTC futures ETF might be the favorite among the others, but there should be a group to avoid the first-mover advantage.

• The premises of a BTC futures ETF come after VanEck and ProShares withdrew their applications just after two days of filing, suggesting that SEC might be in regular contact with the investors and indicated disapproval of an Ether futures ETF.

• Galaxy Digital, Valkyrie Investments, and AdvisorShares are asset managers to file for BTC futures ETF after the SEC chair Gary Gensler indicated approving such funds.