Bitcoin Futures ETF Could Be Ready For Trading By October 21st
Not only is it looking more and more likely that a Bitcoin futures etf will be approved in October, but it could also begin trading this month, too.
Covered:
- Bitcoin Futures ETF Approval And Trading Date
- SEC Delays: Is No News Good News?
"If (bitcoin futures ETF) does get approval, when would it start trading?" is a question I'm getting a lot. In short, it would launch VERY SOON, like a couple of days, after approval (eg, if approved Oct 19th likely launch Oct 21st) https://t.co/L1FMRbQbNd
— Eric Balchunas (@EricBalchunas) October 7, 2021
Senior Bloomberg Analyst Eric Balchunas says it would only be a matter of days after a Bitcoin Futures ETF approval before trading would commence.
SEC Delays: Is No News Good News?
WHERE WE STAND: the SEC has a few days left to delay on bitcoin futures ETFs. If hear nothing, the first ETF filed (ProShares) will be free to launch on 10/18 as the 75 days req will have passed. That said, this is an unusual situation but no news is prob good news at this point. pic.twitter.com/LMkQ2YfPJS
— Eric Balchunas (@EricBalchunas) October 12, 2021
Back in August, Balchunas considered investment fund manager ProShares’ application as most likely to be the first approved by the SEC. And, that’s still the case now.
“WHERE WE STAND: the SEC has a few days left to delay on bitcoin futures ETFs. If hear nothing, the first ETF filed (ProShares) will be free to launch on 10/18 as the 75 days req will have passed, ” Balchunas said. “That said, this is an unusual situation but no news is prob good news at this point.”
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Balchunas didn’t elaborate on the last part as of press time, but it points to the possibility that silence regarding approval casts at least some doubt on whether it will — the use of the word “prob” isn’t exactly reassuring.
However, considering the fact that Gary Gensler, a.k.a. the head honcho up at the SEC is down for a futures ETF, any pessimism is likely a fools errand.
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Text source: CryptosRus