SEC Likely Will Approve Several Bitcoin ETFs soon – Bloomberg

The US Securities and Exchange Commission (SEC) may soon approve the country’s first Bitcoin futures trading funds.

According to Bloomberg sources, the SEC will first approve a futures product, as the regulator treats such products more favourably.

Bloomberg Senior ETF Analyst Eric Balchunas said that the SEC will first approve the ProShares Bitcoin Strategy ETF, as the decision is due to expire on October 18. And the next day, the regulator may approve the ETF Invesco Bitcoin Strategy.

Securities and Exchange Commission chairman Gary Gensler spoke out in favour of the funds based on CME-traded bitcoin futures, filed under 1940s law, adding weight to the potential for long-awaited approval.

On October 8, the US Securities and Exchange Commission (SEC) approved the Volt Equity ETF, which provides investors with easy access to companies that are revolutionizing the Bitcoin (BTC) industry.

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