Bloomberg expert believes it will soon be approved

According to Eric Balchunas, Bloomberg’s ETF expert, the US is about to launch its first Bitcoin ETF this year. In any case, the SEC cannot complain about a lack of applications.

The optimists will rejoice: Eric Balchunas, Bloomberg’s number one ETF analyst, assumes that a Bitcoin ETF will be approved in the USA this year. He notices in one current article suggest that the current BTC soaring is primarily due to institutional adoption. In the price increases of Bitcoin in 2017 and 2018, the “standard crypto products” like Grayscale’s Bitcoin Trust played a role. However, this is not ideal for small investors. The SEC also knows that and therefore they should now also give a Bitcoin ETF a chance.

Balchunas did not fail to take a look at neighboring Canada and the financial ecosystem there. In February, regulators there gave the green light to the first Bitcoin ETF. The analyst sees this as a “good sign” that the US would follow suit.

There are now even four Bitcoin ETFs approved in Canada. In the US, the SEC recently took more time to decide on VanEck’s application. In view of this residue, Balchunas finds clear words:

Canada is about six months to a year ahead of the US on this. The longer they [die SEC] hesitate, the more effectively they play the kingmaker. The one [Bitcoin ETF]Whoever gets out first will make instant profits. So I think there is a risk in waiting too long and I think they understand that. “

Another Bitcoin ETF application has been received by the SEC

Nevertheless, Balchunas speaks of a “change” this year.

We are more optimistic about admission than we have ever been.

Meanwhile, the SEC received a new application for a Bitcoin ETF. The Cboe BZX Exchange provided him. Form 19b-4 has been received by the SEC declaring support for Wise Origin’s Bitcoin ETF filing.

Wise Origin is a fund affiliated with investment giant Fidelity. The US Securities and Exchange Commission already received the application for the ETF in March. However, the authority requires the approval of an exchange partner such as Cboe or NYSE Arca. This is enough corresponding 19b-4 form a. Only then does the SEC begin the 45-day review phase. Other Bitcoin ETF applications, such as those from VanEck, Kryptoin, and WisdomTree, have also been received through the Cboe BZX Exchange. Another potential ETF issuer, Valkyrie, is working with NYSE Arca.