Bitcoin
BTC$41 781.93

-1.20%

Ethereum
ETH$3 104.92

-3.07%

Tether
USDT$1.000442

0%

Binance Coin
BNB$462.66

-2.57%

Cardano
ADA$1.41

-10.09%

USD Coin
USDC$0.999818

-0.07%

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 71.2% 61 $41 781.93 -1.20% -2.04% $791 088 078 889 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64.4% 76 $3 104.92 -3.07% -4.08% $370 163 071 496 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000442 0% 0.02% $78 349 190 476 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 70% 60 $462.66 -2.57% 0.34% $76 392 115 063 BNB 7 days price change
5 Cardano (ADA) ADA Cardano predictions 76% 52 $1.41 -10.09% 16.06% $47 131 349 412 ADA 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 96% 1 $0.999818 -0.07% 0.01% $45 754 530 091 USDC 7 days price change
7 Solana (SOL) SOL Solana predictions 62.8% 81 $138.01 -1.88% -1.19% $43 357 154 185 SOL 7 days price change
8 XRP (XRP) XRP XRP predictions 69.2% 65 $0.743566 -2.42% -2.66% $35 440 659 267 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 74% 57 $77.07 -0.63% 2.61% $27 568 221 274 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 73.2% 51 $24.34 -4.48% -6.31% $24 040 494 775 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 75.2% 45 $0.166796 -2.47% 8.84% $22 128 901 943 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 61.2% 79 $84.45 -2.78% -7.81% $20 636 453 390 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 70% 63 $0.000028 -3.69% -2.92% $15 307 020 912 SHIB 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 68.4% 59 $2.08 -6.22% -11.45% $15 177 353 942 MATIC 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 90.8% 1 $0.998835 -0.12% -0.19% $14 198 835 768 BUSD 7 days price change

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