SEC wants to allow first Bitcoin futures ETF to trade in the US: report

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The US Securities and Exchange Commission should approve the first exchange-traded Bitcoin futures fund (ETF), according to a Bloomberg report.

The publication said in a report on Thursday evening that the US regulator “is unlikely to block the products from trading next week,” citing people familiar with the matter.

The report came several hours after the SEC said in a tweet through its investor education account, “Before investing in a fund that holds bitcoin futures contracts, make sure you carefully weigh the potential risks and rewards.”

Bitcoin futures ETFs differ from Bitcoin ETFs in that they are based on futures contracts and are deposited according to the rules for mutual funds.

SEC chairman Gary Gensler recently expressed an interest in considering applications for a Bitcoin ETF tied to futures under the Investment Company Act of 1940.

But in those comments, according to The Block’s previous report, he mentioned any mention of spot products filed under the Securities Act of 1933.

Meanwhile, the SEC has postponed the deadlines for four Bitcoin Spot ETF applications to November and December.

Shortly after the news, the price of BTC rose over $ 2,000 to hit over $ 59,000 at press time.

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