Bitcoin
BTC$26 805.87

-1.40%

Ethereum
ETH$1 854.67

-0.84%

Tether
USDT$1.000096

-0.02%

Binance Coin
BNB$303.98

-1.00%

USD Coin
USDC$0.999905

-0.01%

XRP
XRP$0.505541

-0.88%

Bitcoin heads towards $60,000 with ETF approval on the horizon


14 Oct 2021

#Bitcoin

The price of Bitcoin resumed its path higher on Thursday with markets still hopeful that a Bitcoin ETF, most likely based on Bitcoin Futures, will be approved by the US Securities and Exchange Commission (SEC) within the next week or two. There are a number of filings for Bitcoin ETFs currently under review. It is more likely that futures ETFs registered under the Investments Company Act of 1940 will see approval first.

The SEC Chair Gary Gensler has previously signalled his favourability for a Bitcoin futures ETF, rather than one based on the underlying asset. Speaking last month, Gensler said the ’40 Act “provides significant investor protections” for mutual funds and ETFs, adding that he was looking forward to staff’s review of such filings.

Eric Balchunas, Bloomberg’s senior ETF Analyst, highlighted that Valkyrie has recently updated their Bitcoin futures ETF prospectus, adding the ticker BTF. Balchunas signalled that this typically only happens when the fund is “ready to launch”. “Can't say this is done deal type evidence but a good sign IMO,” Balchunas said on Twitter (NYSE:TWTR).

ARK files for Bitcoin futures ETF

Another positive development in the world of Bitcoin ETFs came yesterday when Cathie Wood’s ARK Invest filed for a Bitcoin futures ETF under the ‘40 Act. ARK had previously filed for a physical Bitcoin ETF but this is the first time the asset management firm has filed for a futures only ETF.

In the filing, ARK said that it will only invest in Bitcoin futures and will not invest in BTCC or GBTC options. “The fund does not invest directly in Bitcoin or other digital assets”, the filing said.

At 10:11BST, Bitcoin is trading around $57,370, off the highs above $58,000 hit earlier in the trading day but still up over 5% in the last 24 hours.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 91.2% 10 $26 805.87 -1.40% 2.56% $519 755 870 988 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 94.4% 5 $1 854.67 -0.84% 4.20% $223 015 422 400 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000096 -0.02% 0.03% $83 230 335 223 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 95.6% 1 $303.98 -1.00% -0.22% $47 377 323 224 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $0.999905 -0.01% 0% $28 877 501 003 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 76.8% 37 $0.505541 -0.88% 12.34% $26 279 740 617 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 90% 10 $0.363936 -3.17% 2.01% $12 695 439 313 ADA 7 days price change
8 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
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11 Solana (SOL) SOL Solana predictions 79.6% 29 $20.61 -0.54% 6.81% $8 175 590 615 SOL 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 81.2% 37 $0.074658 -1.32% -3.61% $7 590 887 095 WTRX 7 days price change
13 Litecoin (LTC) LTC Litecoin predictions 80.4% 37 $92.37 3.38% 9.85% $6 747 710 768 LTC 7 days price change
14 TRON (TRX) TRX TRON predictions 81.6% 35 $0.074386 -1.89% -3.97% $6 711 481 387 TRX 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 90% 10 $5.22 -2.17% -0.51% $6 213 935 139 DOT 7 days price change

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