For years, crypto investors have been eagerly awaiting the possible approval of bitcoin (BTC) stock funds by the US Securities and Exchange Commission (SEC). This body has repeatedly postponed the deadline for the possible approval of decent ETFs, but now a definitive end date is really in sight.
Bitcoin futures ETFs
Four bitcoin futures ETFs will receive the SEC’s ruling this month. This is the ProShares Bitcoin Strategy ETF, Invesco Bitcoin Strategy ETF hand trading, VanEck Bitcoin Strategy ETF hand trading op Valkyrie Bitcoin Strategy ETF hand trading.
Should the SEC give the green light to these listed funds, they will be the first of their kind on U.S. stock exchanges. Such development will be warmly welcomed by the Crypto community around the world.
An ETF analyst from BloombergJames Seyffart said he is of the opinion that the SEC will approve these four ETFs after all. He mentions that SEC Chairman Gary Gensler recently indicated that bitcoin futures products were well received by the SEC.
According to Jeyffart, it would be very strange if Gensler in September first indicating that bitcoin futures ETFs were viewed favorably by the body and then a month later rejecting such ETFs.
Another ETF analyst, Nate Geraci, says the same. According to him, it is illogical and unfair to first make such a positive statement about bitcoin futures ETFs and then do the opposite.
He also points out that this is a good way for the SEC to win the hearts of the crypto community:
“Approval of futures-based bitcoin ETFs seems like an easy way for the SEC and President Gensler to make a profit and look progressively at crypto.”
Not everyone is equally positive about the SEC’s forthcoming ruling on bitcoin futures ETFs. There are also analysts who expect the SEC to first have a detailed regulatory plan for the crypto-industry on the table.