The launch of a Bitcoin ETF in the U.S. is almost a “done deal,” according to analysts
The price of Bitcoin has spiked to a multi-month high of $59,459 on the Bitstmamp exchange after Bloomberg reported that the U.S. Securities and Exchange Commission didn’t oppose the launch of a futures-based Bitcoin exchange-traded fund in the U.S.
The media outlet cites multiple sources familiar with the matter.
ProShares Bitcoin Strategy ETF, the very first ETF in the line, is now expected to start trading as early as next week.
ETF analyst Eric Balchunas believes that the probability of the SEC approving such a product has now gone up to 90 percent, but he’s not ready to “close the case.”
Like I said tho until these little F-ers (ETFs) are literally trading on the exchange I’m not ready to close this case. But odds now over 90% IMO.
— Eric Balchunas (@EricBalchunas) October 15, 2021
The approval would mark a significant milestone for the industry that has been attempting to launch a Bitcoin ETF since 2013 without any luck.