Volt crypto revolution and technology ETF has passed Bitcoin ETF, will it be far?
As the price of Bitcoin has risen and fluctuated around US$55,000 for several consecutive days, the possibility of US regulators approving exchange-traded funds (ETF) has once again become the focus of attention.
Bloomberg pointed out that after the crypto community has waited for many years, four Bitcoin ETFs are expected to be approved by the US Securities and Exchange Commission (SEC) at the end of this month, including related products from ProShares and Valkyrie Investments. This month, the SEC must again decide whether to approve, reject or delay the listing application of such ETFs. Bloomberg ETF analyst James Seyffart said: We think the possibility of approval is very high. The SEC and its chairman Gensler had no reason to make the opposite decision less than a month later after making positive comments on the Bitcoin futures ETF based on the 1940 law at the end of September.
Earlier in late September, the Chairman of the US Securities and Exchange Commission (SEC) Gary Gensler reiterated his support for a small class of Bitcoin exchange-traded funds (ETFs) that will invest in futures contracts rather than Bitcoin itself. Gensler separately mentioned investing in futures contracts traded on CME and registered Bitcoin ETFs under the Investment Company Act of 1940, stating that the Act “provides important investor protection.” Gensler had previously made a similar view in August.
Although the President of the United States Securities and Exchange Commission (SEC) Gary Gensler expressed a willingness to be approved by the Bitcoin futures contracts supported by ETF, digital asset management company grayscale (Grayscale) said it would continue to seek regulatory approval from the entity supports encryption currency Bitcoin ETF ( Bitcoin Spot ETF). Some analysts predict that the Grayscale Bitcoin Trust Fund (G BTC ) currently plans to convert a US$30 billion trust fund into a cryptocurrency-backed ETF, and it is unlikely to be approved in the short term. Grayscale still hopes that the US SEC will accept the possibility of Bitcoin spot ETFs. David LaValle, head of Grayscale ETF, said in an interview, “We will not sit back and watch. Gensler’s remarks have not changed our business strategy. We will use ETF wrappers (Wrapper) to bring other products to the market, such as stock-based Traditional ETF.” But some analysts said that this opportunity may be more distant, and they believe that Bitcoin futures ETFs will be approved by the SEC before spot ETFs.
In fact, US securities regulators have been considering whether to approve their first Bitcoin ETF for years. On September 29, the United States Securities and Exchange Commission announced that it would postpone the announcement of the four Bitcoin ETFs for 45 days, and the schedule of Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, WisdomTree Bitcoin Trust and Kryptoin Bitcoin ETF Postponed to December 21, December 8, December 11, and December 24. On September 8, the US Securities and Exchange Commission issued a statement announcing that it would extend the decision to approve the VanEck Bitcoin Trust for 60 days to November 14. It is reported that as of the beginning of October, a total of 9 Bitcoin futures ETFs are waiting for the SEC to release.
Golden Finance is incomplete, except for the 5 Bitcoin ETFs that have been postponed. Currently, BlockFi Bitcoin Strategy ETF (Bitcoin Futures ETF), Bitwise Bitcoin Strategy ETF (Bitcoin Futures ETF), Galaxy Bitcoin Strategy ETF (Bitcoin Futures ETF) Bitcoin Futures ETF), Invesco Bitcoin Strategy ETF (Bitcoin Futures ETF), Ark21Shares ETF, Wise Origin Bitcoin Trust, Teucrium Bitcoin Futures ETF, etc. are subject to SEC approval.
What is worth looking forward to is that the US Securities and Exchange Commission (SEC) has approved the “Volt Crypto Industry Revolution and Technology ETF”, allowing investors to easily invest in Bitcoin-centric companies, including Tesla, Square, Coinbase , PayPal and Twitter etc. Volt is currently the closest product to a Bitcoin ETF, which also increases people’s expectations for the SEC to pass a pure Bitcoin ETF.
Current existing Bitcoin ETF holdings
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/volt-crypto-revolution-and-technology-etf-has-passed-bitcoin-etf-will-it-be-far/
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