SEC could approve Bitcoin futures ETF in October, analysts say

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The U.S. Securities and Exchange Commission is expected to approve a Bitcoin (BTC) futures exchange-traded fund (ETF) by the end of October, according to Bloomberg ETF experts.

Bloomberg ETF analysts Eric Balchunas and James Seyffartissuedan note an investor on Tuesday suggesting that abrupt withdrawals of Ether futures ETF (ETH) proposals by VanEck and ProShares could trigger SEC approval of a Bitcoin ETF.

VanEck and ProShares’ rapid withdrawal from Ethereum futures ETF proposals is a good sign for a potential Bitcoin futures ETF, given that the SEC has allowed those who deposit to remain active. A launch could take place as early as October, and we believe the SEC should allow several at a time to avoid giving the first-come advantage, analysts said.

Balchunas noted that the ProShares Bitcoin futures ETF was among the proposals most likely to be approved by the U.S. securities regulator. We believe the Ether withdrawal shows that the SEC has its nose in this rn and is in regular contact with issuers, which should mean any issues have been resolved so they can launch 75 days after filing, a he added.

Related: Europe Prepares For First Bitcoin Futures Launch Amid US ETF Deadlock

The latest Bitcoin futures ETF forecast comes shortly after asset managers VanEck and ProShares suddenly withdrew their Ether ETF applications just two days after filing documents with the SEC. However, a number of Bitcoin futures ETF applications have always remained active, with asset managers such as Valkyrie, ProShares, Invesco and VanEck submitting Bitcoin term ETF deposits earlier this year.

As previously reported by Cointelegraph, SEC Chairman Gary Gensler recently suggested that the regulator may be open to the approval of Bitcoin futures ETFs under the Investment Companies Act of 1940.

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