Alternative Investments/Digital: Bloomberg Analysts Believe A Bitcoin Futures ETF Could Arrive October

The analysts read more into the sudden withdrawal of applications with the SEC for approval of Ethereum (ETH) futures ETFs just two days after filing.

Bloomberg analysts James Seyffart and Eric Balchunas have homed in on the sudden withdrawal of applications for futures-based Ethereum ETFs by VanEck and ProShares last week. Reading the tea leaves, the analysts say the withdrawals augur well for the SEC’s approval of a futures-based bitcoin ETF.  (Coin Telegraph)

“VanEck and ProShares’ rapid withdrawal of proposals for Ethereum futures ETFs is a good sign for a potential Bitcoin futures ETF, given the SEC has allowed those filing to remain active,” the analysts wrote in an investor note issued Tuesday. “A launch could come as soon as October, and we believe the SEC should permit several at once to avoid handing out a first-mover advantage.”

One reason for the withdrawal could be that the SEC spoke to the proposers and likely made it clear that the approval of an Ethereum fund was unlikely.

A number of futures-based bitcoin ETF applications were filed after SEC Chairman Gary Gensler recently suggested that the regulator might consider approving Bitcoin futures ETFs under the Investment Company Act of 1940.

These applications are still under active consideration of the SEC, giving credence to the analysts’ theory of an en masse approval by the regulator.

Analyst Seyffart went so far as to say that at least one bitcoin futures ETF could launch in the U.S. in the fourth quarter, maybe as soon as October.

Balchunas said in a Tweet:

“New note out today from @JSeyff re how the Ether ETF withdrawals adds to likelihood that a bitcoin futures ETF will be launched by end of October with ProShares as favorite, altho it could (and arguably should) be a group to avoid first mover advantage.”

Related Story:  Galaxy Digital Takes Aim (Again) At Bitcoin ETF Using Futures Route

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…
Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…
Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…超·世界.png
Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…