May 25, 2024

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The SEC first recognizes the future ETF of Bitcoin

The document, cited in this Thursday (14) report, states that the U.S. regulator “probably will not prevent products from trading next week” (Image: Reuters / Andrew Kelly)

According to a Bloomberg report, the US Securities and Exchange Commission (SEC) is expected to approve Bitcoin’s first futures-trading fund (ETF) (PTC) From the country.

The document, cited in this Thursday (14) report, said the U.S. regulator “will probably not prevent it from starting trading next week.”

The report came hours after the SEC said in a tweet on its investor education account: “Before investing in a fund that holds futures contracts for Bitcoin, be sure to evaluate potential risks and benefits.”

Bitcoin futures ETFs are different from cryptocurrency ETFs in that they are based on futures contracts and must comply with mutual fund rules.

Recently, Gary Gensler, President of the SEC, expressed his interest in reviewing Bitcoin ETF applications linked to the future under the Corporate Investment Act of 1940.

In his comments, however, Jensler did not mention any monetary items engraved under the Securities Act of 1933.

Meanwhile, The SEC postpones deadline To decide on spot bitcoin ETF orders for November and December this year.

Following Bloomberg’s announcement, the price of Bitcoin soared to more than $ 2,000 and reached $ 59,000.

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