Bitcoin (BTC) Futures ETF “Probably” Postponed To 2022, Research Firm Says

The cryptocurrency market is currently anxiously awaiting the approval of a US listed bitcoin (BTC) fund, aka bitcoin. exchange traded fund (ETF). An ETF for bitcoin futures that is, as Securities and Exchange Commission (SEC) chairman Gary Gensler recently hinted at.

Bloomberg ETF analysts Eric Balchanus and James Seyffart recently estimated the chance of approval at 75% before the end of this month. Todd Rosenbluth, director of ETF research at research company CFRA, thinks otherwise.

Rosenbluth agrees that a bitcoin futures ETF may become the first crypto ETF to receive SEC approval. However, he thinks that the current uncertain situation regarding the regulation of crypto will cause more delay. That is what the researcher told CNBC in an interview published on October 12.

“It is possible, in fact, we think it is likely that we will see a deferral of a bitcoin futures ETF until 2022 until regulation is clearer.”

In addition, Rosenbluth thinks that regulators may currently wait for all of these ETF products to meet their criteria and then approve a series at a time. This avoids the fact that a product gains the advantage of being the first on the market.

VanEck, ProShares, Invesco, Valkyrie and Galaxy Digital have all applied for bitcoin futures ETFs. One or more of these could possibly be approved by the end of this month.

According to Jan van Eck, CEO of asset manager VanEck and also present during the interview, the SEC is currently concerned about the potential difference between bitcoin and futures prices. In addition to applying for a BTC futures ETF, VanEck has also filed an application for a BTC physical ETF. The decision on this was recently postponed.

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