Cryptocurrency Community in Frenzy Following Possible Indication of BTC ETF Approval by SEC

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


The US SEC triggered a frenzied reaction in the Bitcoin and cryptocurrency community yesterday, following a tweet by its official handle about investing in funds that hold Bitcoin futures contracts. The account (@SEC_Investor_Ed) tweeted that: “Before investing in a fund that holds bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits.”

The tweet cited an investor bulletin published in June by the SEC’s Office of Investor Education and Advocacy and the Commodity Futures Trading Commission’s (CFTC’s) Office of Customer Education and Outreach. The bulletin urged that: “investors considering a fund with exposure to the bitcoin futures market to weigh carefully the potential risks and benefits of the investment.”

The recent tweet by the Commission raised optimism in spectators that the watchdog could approve a Bitcoin futures ETF soon. Reports show that the SEC should approve several Bitcoin strategy ETFs this month.

Commenting on the possible ETF approval, senior ETF analyst at Bloomberg Eric Balchunas noted that:

“Getting closer: The SEC just tweeted out an Edu bulletin they wrote back in June re bitcoin futures and ‘funds that hold bitcoin futures. Clearly [a] good sign, and we [are] upping our odds to 85%.”

Balchunas further noted that another sign that an ETF could get approved soon is that “Valkyrie just updated their bitcoin futures ETF prospectus (which typically only happens when ducks in [a] row [are] ready for launch). They added their ticker $BTF, altho no fee still. Can’t say this is done deal type evidence but a good sign IMO.”

Some Cryptocurrency Community Member Remain Skeptical Over BTC ETF Approval

However, some spectators cautioned that the SEC’s recent tweet might not necessarily indicate a BTC ETF approval citing a similar tweet by the Commission in June.

Economist and crypto analyst Alex Kruger opined that: “Market interpreting this SEC post as odds of bitcoin futures ETF increased dramatically but note, the SEC had posted the same thing back in June.”

Nonetheless, the crypto community is optimistic that the watchdog will approve the pending BTC ETFs considering that SEC Chair Gary Gensler has indicated his openness to the idea of it.

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *