According to ETF experts from Bloomberg, the US securities regulator SEC is likely to approve an exchange-traded Bitcoin (BTC) futures fund by the end of October.
Bloomberg ETF analyst Eric Balchunas and James Seyffart issued an investor announcement on Tuesday published which states that the abrupt withdrawal of the proposals for an Ether (ETH) futures ETF by VanEck and ProShares could result in the SEC approving a Bitcoin ETF.
“The fact that VanEck and ProShares have withdrawn their proposals for Ethereum futures ETFs is a good sign that there will be a Bitcoin futures ETF soon, provided the SEC lets those proposals go ahead. It could be ready in October and we believe the SEC could approve several at once so that no one has an advantage over the others because they were approved earlier, “the analysts said.
Balchunas stated that ProShares’ bitcoin futures ETF is one of the proposals most likely to be approved by the U.S. Securities and Exchange Commission. “We believe that the withdrawal of the Ether proposal shows that the SEC is dealing with it and is in active communication with the issuers. This means that the last hurdles will be cleared and these could come out 75 days after the application.” as he further explained.
In this context: Europe: Soon the first Bitcoin futures
Previously, asset managers VanEck and ProShares suddenly withdrew their application for an Ether ETF, two days after filing all documents with the SEC. However, there are still some Bitcoin futures ETFs pending that have been requested. These include Valkyrie, ProShares, Invesco and VanEck, all of which have submitted applications for Bitcoin futures ETFs.
As Cointelegraph previously reported, SEC chairman Gary Gensler recently hinted that the agency would be more likely to approve Bitcoin futures ETFs.