A pair of Bloomberg analytics speculated this week that the U.S. Securities and Exchange Commission could approve of a Bitcoin futures exchange-traded fund (ETF) by October.
Definition: Similar to other commodities, a Bitcoin futures ETF allows investors to speculate on the future price of the cryptocurrency.
Fine Print: The analysts, Eric Balchunas and James Seyffart, say that the SEC is looking into a Bitcoin ETF after the recent withdrawals of Ether futures ETFs last week. This includes a timeline of 75 days later, which goes until the end of October.
Financial Institutions: A report this week indicated that Citigroup (NYSE: C) wants to launch a Bitcoin Futures ETF. Valkyrie Investments is also looking into this.
Final Thoughts: With a futures ETF, investors can bet on Bitcoin without actually buying any cryptocurrency.
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