US SEC Prepares to Approve Launch of Four Bitcoin ETFs

The US Securities and Exchange Commission (SEC) will soon make a decision on a number of applications for approvalexchange-traded funds based on bitcoin futures.

This month, the regulator may reject,approve or postpone four Bitcoin ETF applications from the ProShares Bitcoin Strategy ETF, Invesco Bitcoin Strategy ETF, VanEck Bitcoin Strategy ETF, and Valkyrie Bitcoin Strategy ETF.

Bitcoin ETFs based on futures give investors access to Bitcoin without having to directly own the flagship cryptocurrency.

If the SEC approves the applications, then by the end of October in the United Statesthere will be as many as four Bitcoin (BTC) futures ETFs. After several years of delays, their approval will be good news for the US $ 6.7 trillion ETF industry.

Bloomberg Intelligence ETF Analyst JamesSeiffart believes that the regulator is likely to approve these financial products. The optimism came after SEC Chairman Gary Gensler announced that the Commission would favor bitcoin futures products registered under the Investment Company Act of 1940, when considered by the Commission.

«We do not think that Gensler and the SEC, who areAt the end of September, they struggled to make positive statements about Bitcoin futures ETFs, issued in accordance with the 1940 law, a month later they may be rejected», - he said.

The SEC also asked two issuers to withdraw theirapplications for Ethereum-ETF futures, but did not make a similar requirement for their Bitcoin-based applications, which gives hope that a favorable decision will be made on Bitcoin-ETFs.

As issuers seek approvalBitcoin ETFs for more than eight years, Nate Geraci, president of ETF Store consulting firm, commented that it would be "somewhat hypocritical" for regulators to accept more applications only to later reject them.

«For the SEC and Chairman Gensler, approving a futures-based Bitcoin ETF looks like an easy way to win for a forward-thinking approach to cryptocurrencies.»Said Geraci.

However, some commentators are not so positive.Dave Nadig, chief investment officer at ETF Trends, said that while the likelihood of approval could be higher than 50%, the SEC's rejection won't come as a surprise either. In his opinion, the regulation plan is much more important for the industry right now.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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