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

https://dailyalts.com/wp-content/uploads/2021/08/bitcoin-5927460_640.jpg

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.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/09/244002325_a409dcf889_c.jpg
Artificial Intelligence: AI To Help Survey For Endangered Bats Under Bridges
September 22, 2021     Artificial Intelligence, News

Hundreds of thousands of bats from about 40 species routinely nest under US bridges, and many of them are endangered or threatened. Transportation departments must mandatorily check for them before…

https://dailyalts.com/wp-content/uploads/2021/09/Organism-1.0-_-Media.png
Artificial Intelligence: AI Cameras In Amazon Delivery Vehicles Unfairly Penalize Drivers
September 21, 2021     Artificial Intelligence, News

Amazon (NASDAQ: AMZN) installed AI-powered cameras in its delivery fleet in February as an investment in safety technology across its operations. The company said at the time the system would…

https://dailyalts.com/wp-content/uploads/2021/09/cakes-652063_640.jpg
FinTech: Assets, A New Product From Wise, Lets You Spend From Your Stocks Portfolio
September 21, 2021     FinTech, News

Wise (LON: WISE), the UK payments fintech previously known as TransferWise, has taken its first steps into investing solutions. Its Assets product allows users to invest in stocks but also…

https://dailyalts.com/wp-content/uploads/2021/09/20200520.jpg
Alternative Investments/ESG: ETFMG Launches Maritime Decarbonization ETF

ETF Managers Group, which created the highly successful Breakwave Dry Bulk Shipping ETF (NYSE: BDRY), has launched a sister ETF – the ETFMG Breakwave Sea Decarbonization Tech ETF (BSEA). The…