What the crypto world expects in the coming days
In the cryptocurrency market, there is maximum expectation for each step that the US Stock Market and Markets Commission (SEC) takes around the expected approval of the cryptocurrency exchange-traded fund (ETF). Although yesterday it seemed that it was far from being materialized – this year – the possibility of it being approved “imminently” was renewed. Specifically, two of the applicants to launch the first investment vehicle of this type in the queen of cryptocurrencies have updated their requests in a way that has led experts to think that the news will be released sooner than expected.
“Cryptocurrencies are awaiting a possible SEC update on a Bitcoin ETF on Monday”said Edward Moya, an analyst at Oanda. And the market consensus is betting that there will be a “buy the rumor” movement in the coming days, which will take the digital asset to hit its all-time highs.
Bloomberg ETF senior analyst Eric Balchunas was the first to comment on the issue via Twitter, noting that there are “good” signs that the investment vehicle will soon be approved. He explained that Cathie Wood’s Ark Invest applied for a Bitcoin futures ETF and Valkyrie updated its own ETF prospectus, Cointelegraph collected.
According to Balchunas, companies often update their proposals when they have everything ready and “ready to go,” suggesting that Valkyrie could soon receive the green light from the US Securities and Exchange Commission (SEC). The Bloomberg expert has also highlighted Ark Invests’ October 13 Bitcoin futures ETF application in partnership with 21Shares and the white label WhiteAlpha Architect, noting that it was “another good sign” that the SEC is ready to give the approval.
Referring to the Valkyrie ETF, the analyst added that he looks for “these kinds” of updated prospect submissions to determine if the SEC’s official green light is coming, and said applicants often update final details “just before” launch. . Nevertheless, admitted that there is nothing certain in the cryptocurrency sector.
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