Monday, October 4, 2021

75% Chance There’s a Bitcoin ETF Approval in October, Analyst Says

We could finally see the U.S. Securities and Exchange Commission approve of a Bitcoin ETF as early as this month, according to Bloomberg analyst Eric Balchunas.

Details: In a tweet on Saturday, Balchunas wrote that Bitcoin Future ETFs filed under a 1940 law have a 75% chance of approval this month.

Numbers: Balchunas believes that there are 2-1 odds that ProShares Bitcoin Strategy ETF gets approved this month. Galaxy Bitcoin Strategy ETF has 50-1 odds, he writes.

Recent Events: On Friday, the SEC delayed its decision on whether or not Bitcoin ETFs would finally get approved.

Final Thoughts: A Bitcoin ETF would give investors exposure to the cryptocurrency without having to actually own the coins.

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