A Bitcoin Futures ETF on the horizon? That suggests documents and reports released this Friday. Meanwhile, the market benefits from rising expectations.
A first exchange-traded fund (ETF) of Bitcoin it could start trading on the NASDAQ market, the second largest stock market in the United States, next week. This is suggested by a document that has been circulating this Friday on Twitter.
According to the document dated October 15, Nasdaq has approved the registration and listing of the ETF of Bitcoin from the administrator Valkyrie, which indicates that the fund could start trading soon in that market. In the letter, Nasdaq VP of Listing Ratings Eun Ah Choi, said ETF shares of Bitcoin from Valkyrie they had been certified.
It should be noted that this does not mean that the US Securities and Exchange Commission (SEC) has actually approved such a fund.
BREAKING: It is official, Valkyrie Bitcoin Strategy ETF is approved !! pic.twitter.com/fsIZuUkgFT
– Dr. Julian Hosp (@julianhosp) October 15, 2021
However, a public document of the regulator published this Friday confirms that Nasdaq has submitted a request to list the ETF of Valkyrie. Meanwhile, a recent report from CNBC also confirmed the rumors, by assuring that the SEC is preparing to approve a futures ETF of Bitcoin which will start trading next week.
Expectations have driven the price of Bitcoin towards USD $ 60,000 for the first time since March as the main cryptocurrencies remain on the rise this Friday.
A Bitcoin futures ETF is approaching
According to a familiar source who spoke to CNBC, it is highly unlikely that the regulatory agency will deny the request for ETFs proposed by ProShares and Invesco, which are based on futures contracts of Bitcoin. The person, who preferred to remain anonymous, assured that these will reach Wall Street next week, marking a milestone for the history of digital currencies.
The Futures ETF Bitcoin from ProShares will be launched next Monday, October 18, and the ETF of Invesco will follow the next day, Tuesday, October 19, according to the report. The information echoes a recent publication by Bloomberg, which also anticipates the long-awaited launch of a cryptocurrency ETF in the United States.
While the SEC has so far rejected all ETF applications for Bitcoin In the past, there has been a lot of speculation about the approval of such a fund backed by cryptocurrency futures and not physical currency.
In fact, the Chairman of the Commission, Gary Gensler, has indicated that such a fund could meet the SEC’s standards for investor protection and in this regard, effectively receive approval. During a conference earlier this month, Gensler said his agency “I was looking forward to“Review ETFs that were limited to investing in bitcoin futures contracts, causing a shower of requests of this type.
Similar to ETFs proposed by ProShares and Invesco, the bottom ETF Bitcoin Strategy from Valkyrie would offer indirect asset exposure with cash settled futures contracts. In addition, the deadlines for the SEC’s verdict on the request for Valkyrie.
Hannah Estefanía Pérez’s version / DailyBitcoin
Image from Unsplash