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US SEC Set To Allow Bitcoin Futures ETFs Trading Next Week, BTC Prices Close To $60K

The moment that all the crypto investors were waiting for is about to come! The long-awaited Bitcoin Futures ETF could finally launch on Monday next week, according to Bloomberg. What makes Bitcoin futures ETFs from Bitcoin ETFs is that they are filed under mutual fund rules and based on futures contracts.

SEC kept pushing the deadlines of allowing Bitcoin exchange-traded funds for a long time, but now they are poised to allow it. The financial media giant Bloomberg said in a report on Thursday night that:

“The regulator isn’t likely to block the products from starting to trade next week.”

Although they didn’t name the sources, they wrote that it was from people familiar with this matter. This report came several hours after SEC tweeted via its investor education account. The tweet said:

“Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits.”  

Other than that, SEC Chair Gensler expressed his interest in reviewing applications for a bitcoin futures ETF under the Investment Company Act of 1940. However, he didn’t mention any spot products filed under the Securities Act of 199, previously reported by The Block.

In the meantime, the SEC pushed back the deadlines for four Bitcoin spot ETF applications to November and December.

As the news came out, BTC’s price jumped over by more than $2000, and it is trading at $59,511.49 at the time of writing. It won’t be long when it crosses the mark of $60K and coming closer to its ATH price.



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