According to Bloomberg Intelligence, US regulators are more likely to approve the listing of the Ethereum futures ETF before the Bitcoin spot ETF is approved. Bloomberg
Intelligence analyst James
Seyffart wrote in a report: “Most market participants believe that Bitcoin spot ETFs will be superior to existing futures ETFs, but the U.S. Securities and Exchange Commission (SEC) approval of the former may be delayed until the end of 2022 or beyond. .”
As for the Ethereum futures ETF, he estimated that it could be approved as early as the first quarter of next year.
Currently, two funds tracking bitcoin futures have started trading in October. The first is the ProShares Bitcoin strategy ETF, which has accumulated more than $1 billion in assets in just a few days; the second is the Valkyrie Bitcoin strategy ETF. Although the response of this ETF is relatively calm compared to the former, Still very active. The debut of the two funds also greatly increased the acceptance of cryptocurrencies on Wall Street and paved the way for the further application of such products.
In addition, SEC Chairman Gary Gensler has previously stated that Bitcoin futures ETFs actually provide “important investor protection.” However, the agency currently rejects all applications for direct investment in Bitcoin funds.
Seyffart said: “Although the Bitcoin spot ETF may be launched in 2022, due to concerns about the supervision of the Bitcoin-based market, the SEC’s approval may take longer.”