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
wow… Bitcoin ETF approved https://t.co/EMMlKsIXSV— Russian Market (@russian_market) October 14, 2021
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.”
BREAKING: #Bitcoin Futures ETF said not to face SEC opposition at deadline - Bloomberg— Bitcoin Magazine (@BitcoinMagazine) October 15, 2021
The SEC isn’t likely to block the products from starting to trade next week.
Rumor is that the SEC "isn't likely to block" a #bitcoin ETF. Looks like Proshares and Invesco could get approved on the 18th and 19th respectively. Valkyrie and Van Eck would the week after on the 25th. Before the end of October we could have 4 BTC ETFs trading.— Lark Davis (@TheCryptoLark) October 15, 2021
Tweets of the imminent bitcoin ETF drove Bitcoin above $60,000 and the broader crypto space surged sharply higher.
AND BITCOIN JUST HIT $60,000!!!! What a night!!!— BEN BALLER™ (@BENBALLER) October 15, 2021
The SEC is set to approve the proposals filed by ProShares, Valkyrie Investments, Invesco and VanEck HYGB, in the next weeks.