Crypto enthusiasts have been thrown into a frenzy ever since SEC tweeted and now they’re anticipating that the regulator could approve one bitcoin futures ETF at the very least, as early as next week.
The Investor Education office of the U.S. Securities and Exchange Commission (SEC) caused a serious stir among bitcoin fans after posting a tweet on Thursday. The tweet was apparently sent out, to warn investors to properly analyze and weigh the risks and benefits involved in investing in a fund that holds bitcoin futures contracts.
For reference purposes, or just a warning signal as many have said, the office added a link to a June bulletin when it advised investors on how highly speculative Bitcoin, and even the Bitcoin futures market really is.
Meanwhile, the tweet truly didn’t mention anything about exchange-traded funds (ETFs) in particular. However, some crypto fans are already seeing the tweet as a hint that the SEC is about to approve a bitcoin-backed futures ETF, which will be investing in bitcoin-based futures contracts rather than in the crypto itself.
Some experts/analysts are also full of confidence that the regulator will be approving at least one bitcoin futures ETF by next week. Their calculated guesses, or not so calculated anyway, follows after SEC Chairman Gary Gensler recently repeated his support for such funds. At the moment though, SEC is yet to approve any bitcoin-backed ETFs or even those underpinned by bitcoin derivatives.
In any case, the SEC is set to do one of three things in the coming weeks. Either it approves, pend, or outrightly rejects the proposals filed by Valkyrie and the likes.
What are your thoughts on SEC’s tweets?
A mere coincidence or as some say, a hint at what the coming weeks hold in store?
Please share your opinions in the comments.