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Topic: [2021-10-15] SEC Set to Allow Bitcoin Futures ETFs as Deadline Looms (Read 68 times)

legendary
Activity: 3010
Merit: 1460
@Slow death. That date is only 1 application for approval. There are 3 others on October 19 and for October 25 then another for November 1. These dates might give enough time for the market to buy the rumor sell the news on an all time high hehehe.
legendary
Activity: 3164
Merit: 1127
Leading Crypto Sports Betting & Casino Platform
I read somewhere that tomorrow October 18th will be the day the SEC will say whether or not it approves the first bitcoin physical ETF, I don't know which company will be lucky to see its ETF approved tomorrow or if it will be unlucky to see its ETF is postponed like so many others have been postponed until today, but one thing is certain: if tomorrow the SEC postpones it again, then the price of Bitcoin and altcoin will fall a lot.
hero member
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Merit: 879
Rollbit.com ⚔️Crypto Futures
The Securities and Exchange Commission is poised to allow the first U.S. Bitcoin futures exchange-traded fund to begin trading in a watershed moment for the cryptocurrency industry, according to people familiar with the matter.

The regulator isn’t likely to block the products from starting to trade next week, said the people, who asked not to be named while discussing the decision. Unlike Bitcoin ETF applications that the regulator has previously rejected, the proposals by ProShares and Invesco Ltd. are based on futures contracts and were filed under mutual fund rules that SEC Chairman Gary Gensler has said provide “significant investor protections.”

A spokesperson for the SEC declined to comment, as did an official at ProShares.

The Securities and Exchange Commission is poised to allow the first U.S. Bitcoin futures exchange-traded fund to begin trading in a watershed moment for the cryptocurrency industry, according to people familiar with the matter.

The regulator isn’t likely to block the products from starting to trade next week, said the people, who asked not to be named while discussing the decision. Unlike Bitcoin ETF applications that the regulator has previously rejected, the proposals by ProShares and Invesco Ltd. are based on futures contracts and were filed under mutual fund rules that SEC Chairman Gary Gensler has said provide “significant investor protections.” 

A spokesperson for the SEC declined to comment, as did an official at ProShares. 

Bitcoin almost touched $60,000, the highest since April, while futures on crypto-linked stocks rallied in U.S. premarket trading. The largest cryptocurrency by market value has rallied almost 90% in three months and is closing in on the record high of $64,869 set earlier this year.

Barring a last-minute reversal, the fund launch will be the culmination of a nearly decade-long campaign by the $6.7 trillion ETF industry. Advocates have sought approval as a confirmation of mainstream acceptance of cryptocurrencies since Cameron and Tyler Winklevoss, the twins best known for their part in the history of Facebook Inc., filed the first application for a Bitcoin ETF in 2013.

Read more https://www.bloomberg.com/news/articles/2021-10-15/bitcoin-futures-etf-said-not-to-face-sec-opposition-at-deadline
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