After years of hostility, the U.S. Securities and Exchange Commission (SEC) is on track to approve the first Bitcoin exchange-traded fund (ETF) in the country, Bloomberg reported Friday.
While the regulator has yet to make any official confirmations, Bloomberg quoted “people familiar with the matter” to reveal that it is “unlikely” that the SEC will block trading with such crypto products from next week. According to the aforementioned sources, it is preparing to allow the first exchange-traded fund (ETF) to start trading in the US, which includes Bitcoin futures contracts.
More than a dozen companies have applied to the SEC for permission to list Bitcoin ETFs. However, it seems likely that the regulator will give the green light to Bitcoin futures ETFs filed under current mutual fund regulations.
Two such Bitcoin futures ETFs pending SEC approvals are ProShares and Invesco Ltd. brought by.
The regulator’s investor education account also states, “Be sure to carefully review the potential risks and benefits before investing in a fund that trades in bitcoin futures contracts.” he pointed to the approaching confirmation.
Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits.
Check out our Investor Bulletin to learn more: https://t.co/AZbrkpfn8F
— SEC Investor Ed (@SEC_Investor_Ed) October 14, 2021
Besides these The cryptocurrency market has already reacted to the report of the possibility of approval of a Bitcoin fund. The price of the cryptocurrency is pointing to a bullish trend and is approaching $60,000.