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THE SUPREME TEAM: Bitcoin Futures ETF Could Be Ready For Trading By October 21st

Not only is it looking more and more likely that a Bitcoin futures etf will be approved in October, but it could also begin trading this month, too. 

Covered:

  • Bitcoin Futures ETF Approval And Trading Date
  • SEC Delays: Is No News Good News?

Senior Bloomberg Analyst Eric Balchunas says it would only be a matter of days after a Bitcoin Futures ETF approval before trading would commence.

“If (bitcoin futures ETF) does get approval, when would it start trading?” is a question I’m getting a lot. In short, it would launch VERY SOON, like a couple of days, after approval (eg, if approved Oct 19th likely launch Oct 21st),” Balchunas said via Twitter. 
Back in August, Balchunas predicted a Bitcoin Futures ETF approval by October was very likely because of Ethereum ETF application withdrawals. “We think Ether withdrawal shows SEC has nose in this rn,” said Balchunas. “And is in reg contact with issuers which should mean any kinks ironed out so that they can launch 75 days after filing.” Though, nothing is official yet, his prediction is still on track. 
Also according to Balchunas, he doesn’t believe that a slew of ETFs will be approved. “[W]ill they approve many at once? IMO no, I think they put them on [sic] at time a la airplanes on a runway bc they prob nervous about overhwelming underlying market (even tho prob not a big deal),” Said Balchunas. “That said, it would be more fair to put them out all at once.

SEC Delays: Is No News Good News?

Back in August, Balchunas considered investment fund manager ProShares’ application as most likely to be the first approved by the SEC. And, that’s still the case now.

“WHERE WE STAND: the SEC has a few days left to delay on bitcoin futures ETFs. If hear nothing, the first ETF filed (ProShares) will be free to launch on 10/18 as the 75 days req will have passed, ” Balchunas said. “That said, this is an unusual situation but no news is prob good news at this point.”

Recommended: First Ever Bitcoin On Balance Sheet ETF Approved By SEC

Balchunas didn’t elaborate on the last part as of press time, but it points to the possibility that silence regarding approval casts at least some doubt on whether it will — the use of the word “prob” isn’t exactly reassuring.

However, considering the fact that Gary Gensler, a.k.a. the head honcho up at the SEC is down for a futures ETF, any pessimism is likely a fools errand.

 

 

 

The post Bitcoin Futures ETF Could Be Ready For Trading By October 21st appeared first on CryptosRus.


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