Bitcoin News and Finance
New SEC Filings Give the Impression US Regulators Approved a Bitcoin Futures ETF Skip to main content

New SEC Filings Give the Impression US Regulators Approved a Bitcoin Futures ETF

New SEC Filings Give the Impression US Regulators Approved a Bitcoin Futures ETF

The price of bitcoin jumped over 8% during the last 24 hours after a number of documents stemming from the U.S. Securities and Exchange Commission’s (SEC) web portal indicated that the Proshares Trust exchange-traded fund (ETF) could be listed as soon as next week. Proshares filed a post-effective amended prospectus on Friday that shows the firm’s intention to launch on Monday, October 18 on NYSE Arca.

Bitcoin’s Price Spikes as Strong Signals Suggest Bitcoin Futures ETF Could Launch Next Week

The crypto community watched the price of bitcoin (BTC) jump awfully close to the crypto asset’s all-time high on Friday afternoon. During the late afternoon trading sessions, BTC tapped a daily high of $62,945 per unit at around 5:30 p.m. (EST). The reason for this increase is likely due to a number of documents filed with the Securities and Exchange Commission (SEC) seeming to strongly indicate a bitcoin ETF is launching soon.

The first signal was from James Seyffart, an analyst at Bloomberg Intelligence who tweeted about Bloomberg’s data team “adding the Proshares Bitcoin Strategy ETF to the terminal.” Seyffart further added: “[The] ticker will be $BITO. 95 bps — less than half $GBTC’s 2% fee. This thing is going live next week. Either Monday or Tuesday.” Sharing this Form 8A document, the Bloomberg Intelligence analyst continued:

Also should add that [Valkyrie Funds] has filed their 8A which essentially registers a security for trading on [an] exchange. Nothing from Proshares on that front yet. So Valkyrie [is almost] certainly going to begin trading next week as well if I had to guess.

Proshares Trust Post-Effective Amended Prospectus

In addition to Seyffart’s commentary on Twitter, Proshares filed a post-effective amended prospectus for its ETF on Friday. The amended documents note that the Proshares bitcoin ETF intends to launch on October 18, 2021, and the filing also notes the ticker will be called “$BITO.” While the Proshares ETF could be the first to be listed as an approved bitcoin ETF by U.S. regulators, it will deal with bitcoin derivatives.

The Proshares ETF will be a bitcoin futures-based product and analysts are doubtful a BTC spot market ETF will get the green light by the SEC this year. There’s been a lot of confusion about whether the SEC actually approved a bitcoin ETF on October 15 and there’s speculation signals could change. Seyffart’s Friday afternoon commentary on Twitter also shares a tweet he wrote on October 8 when he stated:

The SEC has pulled the rug on approval so many times before, I can’t help but wonder what’s around the corner. We (and all the potential issuers) are basically Charlie Brown trying to kick a football.

Speculation Concerning Valkyrie ETF

People are still skeptical because the U.S. regulator has rejected bitcoin ETFs in a vocal manner, but hasn’t said anything officially about approving a crypto exchange-traded fund. Others have also shared documents concerning Valkyrie’s bitcoin exchange-traded fund, as many have been speculating about its approval.

Still, a few individuals have said the 8A document concerning Valkyrie’s Bitcoin Strategy ETF does not necessarily mean guaranteed approval.

“The SEC has not approved Valkyrie’s Bitcoin Strategy ETF…yet,” the Twitter account Bitcoin Archive told its 539,600 followers. “This is a notice from Nasdaq to the SEC saying they have approved the securities and awaiting a decision from the SEC. That is all.”

Vaneck’s Gabor Gurbacs responded to Bitcoin Archive’s tweet and said: “Good catch. There are so many approvals so people no longer [know] when an actual approval is. LOL.” Bitcoin Archive replied to the Vaneck executive and said: “Bloomberg guys think it’s 99% certain Mon/Tue, but we don’t have confirmation until [the] SEC says so.”

What do you think about the new SEC filings that give the impression the U.S. regulator approved a bitcoin futures-based ETF? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory