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SEC Could Possibly Approve Bitcoin ETF Soon Next Week By CoinQuora

by Mike Robinson

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© Reuters. SEC could approve Bitcoin ETFs soon Next Week
  • In the next week, ETF operations could be authorized by the US SEC.
  • Eric Balchunas ETF analyst believes ProShares Bitcoin Strategy ETF might be the first ETF to launch.

It is possible that the US Securities and Exchange Commission will finally approve the much-anticipated Bitcoin Exchange-traded funds (EFT). According to a report, digital finance professionals should wait until Monday for approval from the SEC.

The regulator isn’t likely to block the products from starting to trade next week.

Eric Balchunas, Bloomberg’s Senior ETF Analyst is very confident in the subject. Balchunas expressed enthusiasm by mentioning that ProShares Bitcoin Strategy ETF might be the first to go live.

Balchunas also mentioned that Invesco Bitcoin Strategy ETF might be the next innovative EFT approved in the coming days.

In a second tweet, he emphasized the approval of an SEC-Bitcoin ETF. “Pretty much-done deal. Expect launches next week,” before adding the “odds now over 90% IMO.”

Gary Gensler (SEC Chair) has asked for more funds, especially on CME-traded Bitcoin Futures. On the other hand, many believe that this upcoming ETF will push Bitcoin’s (BTC) price in a bullish mode.

Continue reading on CoinQuora

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