The US Securities and Exchange Commission (SEC) has tweeted about investing in funds containing Bitcoin futures contracts. This has raised hopes among the crypto community that regulators may soon approve bitcoin exchange-traded funds (ETFs), especially for those who are investing in bitcoin futures.
The optimism grows that the SEC will soon approve a Bitcoin Futures ETF
The official Twitter account of the SEC’s Office of Investor Education and Advocacy tweeted on Thursday: “Before investing in a fund containing Bitcoin futures contracts, make sure you carefully consider the potential risks and benefits.”
The tweet mentions an investor bulletin jointly published in June by the SEC’s Office of Investor Education and Advocacy and the Office of Customer Education and Outreach of the Commodity Futures Trading Commission (CFTC). The bulletin requested that “investors carefully consider the potential risks and benefits of investing in a fund including exposure to the Bitcoin futures market.”
The tug-of-war on Twitter shows that the SEC will soon approve the Bitcoin Futures ETF. Many simply said aloud, “Bullish.”
One Twitter user wrote, “If it’s not approved, they probably won’t post it.” Another commented, “Posting this would indicate the possibility of a BTC ETF coming, probably next week.” A third person said, “This is a clear indication of what is coming soon.” As the Bitcoin.com News reports, the SEC may approve several Bitcoin strategies ETFs this month.
Eric Balchunas, a senior ETF analyst at Bloomberg, commented:
Moving closer: The SEC just tweeted an Edu Bulletin that they wrote about Bitcoin Futures and ‘Funds containing Bitcoin Futures’ in June. Obviously a good sign and we [are] Our differences increased to 85%.
Balchunas mentioned another sign that Bitcoin ETF approval could be imminent. “Valkiri just updated their Bitcoin Future ETF prospectus (which usually happens when they are ready to launch ducks in a row). They added their ticker $BTF, yet there is no fee. Sign IMO, ”he tweeted on Wednesday.
However, since the investors’ bulletin was published in June and the SEC tweeted a similar message about investing in funds containing Bitcoin futures, some people warned that Thursday’s tweet did not indicate Bitcoin ETF approval.
Economist and businessman Alex Krueger noted: “The market has risen dramatically when this SEC post was interpreted by the market as a bitcoin futures ETF controversy, but remember the SEC posted the same thing in June.”
Balchunas more Details The last time the SEC tweeted this bulletin was on July 26, two days before the Provident Bitcoin Strategy Mutual Fund was “effective” and two days before it was launched. He concluded that if the pattern exists, “Proshares ETF will trade Mon or Mars (which was our prediction).”
The crypto community is hopeful that the SEC will approve Bitcoin Future ETFs as SEC chairman Gary Gensler has repeatedly indicated that he is open to such investments. He further said that he was waiting for the review of the staff of Bitcoin Future ETF filing.
Do you think the SEC will approve a Bitcoin ETF this year? Let us know in the comments section below.
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