Bitcoin Surges Above $60,000 On News SEC “Set To Allow” Futures ETF

The long-awaited SEC decision on a futures-based bitcoin ETF is imminent

The SEC tweeted out an education bulletin the agency wrote in June about bitcoin futures and “funds that hold bitcoin futures.” As media crypto expert puts it, this was “clearly good sign and we upping our [bitcoin ETF] odds to 85% but until I see ProShares’ updated post-effective prospectus his EDGS, I’m not calling it.”

The SEC isn’t likely to block the products from starting to trade next week.

Tweets of the imminent bitcoin ETF drove Bitcoin above $60,000 and the broader crypto space surged sharply higher.

The SEC is set to approve the proposals filed by ProShares, Valkyrie Investments, Invesco and VanEck HYGB, in the next weeks.

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