By Samuel Indyk

Investing.com – The price of resumed its path higher on Thursday with markets still hopeful that a Bitcoin ETF, most likely based on , will be approved by the US Securities and Exchange Commission (SEC) within the next week or two.

ETF filings

A variety of Bitcoin ETFs filings are under consideration. Most likely, approval will be given to futures ETFs that are registered under the Investments Company Act.

Gary Gensler, the Chair of SEC, has indicated his preference for Bitcoin futures ETFs over ones based on the asset.

Speaking last month, Gensler said the ’40 Act “provides significant investor protections” for mutual funds and ETFs, adding that he was looking forward to staff’s review of such filings.

Eric Balchunas, Bloomberg’s senior ETF Analyst, highlighted that Valkyrie has recently updated their Bitcoin futures ETF prospectus, adding the ticker BTF. Balchunas signalled that this typically only happens when the fund is “ready to launch”.

“Can’t say this is done deal type evidence but a good sign IMO,” Balchunas said on Twitter (NYSE:).

ARK file for Bitcoin futures ETF

Another positive development in the world of Bitcoin ETFs came yesterday when Cathie Wood’s ARK Invest filed for a Bitcoin futures ETF under the ‘40 Act. ARK has previously submitted an application for a Bitcoin ETF. However, this is the first-ever time that an asset management firm has applied for a futures-only Bitcoin ETF.

ARK stated in the filing that it would only invest in Bitcoin Futures, and not in BTCC options or GBTC options. “The fund does not invest directly in Bitcoin or other digital assets”, the filing said.

Bitcoin trades at $57,370 as of 10:11BST. This is lower than the $58,000 highs earlier in the day, but up more than 5% over the past 24 hours.