Why We Could See The First Approved U.S. Bitcoin ETF In October

Various investment funds have applied for Bitcoin ETFs in the U.S. The number has grown as interest in crypto has been on the rise in recent months. A couple of countries so far have approved some crypto ETFs and investors can trade on these. However, the United States is yet to see the approval of its very first bitcoin ETF. Speculations around the approval of a bitcoin ETF have been on the rise lately. The Securities and Exchange Commission (SEC) was expected to make a ruling on various Bitcoin ETFs that had been filed. But the regulator had moved up the date. In the case of VanEck, moving it by 60 days until the SEC would provide its decision on the Bitcoin ETF. SEC Boss Clarifies Stance On Crypto After SEC Chairman Gary Gensler announced that the regulatory body had no intention of banning bitcoin in the United States, investors began to expect the approval of a bitcoin ETF soon. The reasoning behind this being that the chairman would not go out of his way to provide information like this if there wasn’t good news in the future. Related Reading | Number Of Bitcoin Active Entities Grows 19% To Hit 2020 Bull Levels, Set Up For New Highs? It is expected that October will see the approval of the first bitcoin ETF in the country, which would enable investors to begin trading on Bitcoin Futures ETFs. Instead of having to trade on Canadian crypto ETFs. In addition to the SEC’s stance on crypto regulation, a Canadian mutual f...