Report says SEC will not block Bitcoin futures ETF product by next week
Bloomberg claimed that there are huge chances that the Securities and Exchange Commission will give approval to ETF futures based products, by next week.
As we know, the United States Securities Exchange and Commission recently declared that they will take a review on the filed bitcoin futures application and also they announced fixed 4 dates to give a decision on them.
On 14 October, Bloomberg published a report and claimed that the regulators of the United States aren’t likely to block the products from starting to trade next week,” citing people familiar with the matter.
This report of Bloomberg published within less then one day after the tweet of SEC through their Investors education account. Through the tweet, SEC warned the crypto Investors over the Investment in the future ETF Investment and wrote “Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits”
Impact of news on Bitcoin
After the report of Bloomberg on the chances of Bitcoin futures ETF products approval, the price of Bitcoin surged by $2000.
Perhaps, Price of bitcoin currently is $59,400, and there are huge chances that it can touch $60,000 easily within the next few hours.
Here it is worth noting that Bitcoin futures ETF are different from the Bitcoin ETF products. Futures ETF are more risky then spot ETF, but still the regulators are wandering around the Futures ETF more carefully instead of spot.
Right now, regulators are waiting to take look at the crypto spot ETF by November December.
Read also: Elon Musk’s Tesla made $1B on Its Bitcoin Investment
