Home Bitcoin News Bloomberg announced the imminent SEC approval of the bitcoin ETF. The asset price reached $60,000

Bloomberg announced the imminent SEC approval of the bitcoin ETF. The asset price reached $60,000

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Crypto News

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On October 15, the quotes of the first cryptocurrency reached the $60,000 mark against the background of a Bloomberg report on the approval of the launch of an exchange-traded fund (ETF) based on bitcoin futures next week.

At the time of writing, digital gold is trading at around $59,500. Over the past day, the asset has risen by 2.6%, according to CoinGecko.

Bloomberg announced the imminent SEC approval of the bitcoin ETF
The BTC/USD hourly chart of the Bitstamp exchange. Data: TradingView.

Informed sources told Bloomberg that the U.S. Securities and Exchange Commission (SEC) is “unlikely to block” the launch of the tool. The agency named applications from ProShares and Invesco as the main favorites.

Earlier, Bloomberg senior ETF analyst Eric Balchunas called the update of the fund’s prospectus from Valkyrie Investments and the new ARK Invest application “good signs” for SEC approval of the first bitcoin ETFs.

In August, the head of the SEC, Gary Gensler, said that the regulator would consider bitcoin ETFs if they were based on futures of the Chicago Mercantile Exchange and comply with the Investment Companies Act of 1940.

This was followed by a wave of filing documents for the registration of such funds from Valkyrie Investments, VanEck, Invesco, ProShares, Galaxy Digital, AdvisorShares and BlockFi. The proposed investment products do not provide for direct investments in cryptocurrency.

According to the calculations of the analytical firm Arcane Research, at the beginning of October, applications for 12 spot bitcoin ETFs and seven futures-based ones were under consideration by the SEC.

Recall that the SEC approved an ETF based on a basket of shares of bitcoin-related companies from Volt Equity. The tool does not provide direct access to digital gold.




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