Bitcoin heads towards $60,000 with ETF approval on the horizon
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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 91.2% | 8 | $37 999.52 | 0.28% | 1.60% | $743 176 326 003 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 82% | 28 | $2 087.03 | 2.47% | 0.76% | $250 940 118 733 |  |
|
| 3 |  USDT |
Tether predictions | 91.6% | 1 | $1.000108 | 0% | -0.01% | $89 361 383 812 |  |
|
| 4 |  BNB |
Binance Coin predictions | 82.4% | 26 | $229.00 | 0.60% | -2.63% | $34 738 394 358 |  |
|
| 5 |  XRP |
XRP predictions | 80% | 34 | $0.610895 | 0.45% | -2.05% | $32 920 250 746 |  |
|
| 6 |  SOL |
Solana predictions | 60% | 81 | $60.80 | 1.23% | 6.16% | $25 782 778 428 |  |
|
| 7 |  USDC |
USD Coin predictions | 90.8% | 1 | $1.000068 | 0.01% | 0% | $24 548 544 676 |  |
|
| 8 |  ADA |
Cardano predictions | 74% | 44 | $0.380539 | -0.17% | -3.44% | $13 436 086 955 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 78.4% | 45 | $0.083736 | 2.84% | 8.64% | $11 894 668 878 |  |
|
| 10 |  STETH |
Lido stETH predictions | 92.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  TRX |
TRON predictions | 87.2% | 21 | $0.103684 | -0.04% | 1.38% | $9 179 973 425 |  |
|
| 12 |  WTRX |
Wrapped TRON predictions | 87.2% | 24 | $0.102241 | -0.94% | 0.07% | $9 052 152 442 |  |
|
| 13 |  TON |
Toncoin predictions | 80% | 28 | $2.43 | -0.65% | -0.25% | $8 323 116 435 |  |
|
| 14 |  LINK |
Chainlink predictions | 69.2% | 55 | $14.57 | 0.24% | 0.77% | $8 110 917 522 |  |
|
| 15 |  AVAX |
Avalanche predictions | 55.2% | 90 | $22.06 | 3.37% | 6.67% | $8 056 357 288 |  |
