15.10.202111:45 Forex Analysis & Reviews: Could America's crypto ETF be approved in October?

Exchange Rates 15.10.2021 analysis

Could America's crypto ETF be approved this month?

For Bitcoin futures ETF initial review period, which is currently in the Securities and Exchange Commission, the Commission must approve, reject or postpone applications in the next few weeks. The time has already come.

Canada and Europe have been successfully trading cryptocurrency ETFs for several months, and investors in the United States really want to be able to access the cryptocurrency market through ETFs. So far, the $6.7 trillion ETF industry in America has been working on approving bitcoin ETFs since the first application for the fund in 2013.

There is only hope: the SEC required two issuers last summer to remove futures on the Ethereum ETF, but left Bitcoin futures alone. During the previous week, the regulator also approved the Volt Crypto Industry Revolution and Tech ETF (BTCR), an actively managed ETF that will invest most of its assets in companies with access to Bitcoin, as well as in companies that have access to infrastructure supporting cryptocurrency.

However, there is still skepticism about the chances of approving an ETF based on cryptocurrency futures.

According to the CIO of the ETF Trend, Dave Nadig, the chances of approval are higher than 50%, but it would not be surprising for him if the SEC starts crushing Bitcoin again.

There is no doubt that a real regulatory plan is necessary.

Exchange Rates 15.10.2021 analysis

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