A strategist of Bloomberg claimed that there are high chances that SEC could Approve Bitcoin futures ETF in the next month.
In the present time there are numbers of Bitcoin ETF and Bitcoin futures ETF based products, filed by many fund manager companies and they are eagerly waiting to get a green light from the United States Securities and Exchange Commission authority. But no sign of approval by the end of SEC is coming.
In a recent report, Mike McGlone, Bloomberg’s strategist, explained many facts which are the reason for the SEC to approve the Bitcoin future ETF by October 2021. And also he claimed that he is still sure with his prediction of the $100000 price of Bitcoin at the end of this year.
McGlone also talked about the statement of Ray Dalio and said that he is not right because US department have all the tools for this and he added
“I have gone through those iterations numerous times. And, how do you stop bitcoin unless you change the laws of this country? The only way I see that really stops bitcoin is to ban the internet.”
This matter of Bitcoin ETF has been going on for many years. At one side SEC says that they will not give option of direct Bitcoin Investment but at another side they are claiming that they will allow crypto ETF based products but this situation is not going as what the SEC authority said.
Recently, Fidelity investment fund manager firm also managed a private meeting with their executives and many SEC members to put their opinions and point of view on why the Bitcoin ETF is a necessary need for them. Fidelity firm took the example of other states like Canada, where ETF are already running.