The star crypto is the talk of the town, with it nearing its ATH, growing adoption, and approval of futures ETF. While traders wish for spot ETFs, the futures ETF holds immense potential to turn tables in BTC’s favor. Netizens are expecting the futures ETF to help institutional investors flock into the exposure of Bitcoin. Which were earlier concerned over the crypto market being unregulated.
The futures ETF could pave way for spot ETFs in the due course of time. It could impart impetus to a FOMO rally, to a greater extent. However, it wouldn’t be wrong to expect a correction in prices thereafter.
According to some reports, Valkyrie’s Bitcoin Futures ETF might launch by the 20th of October or the 21st of October. The futures ETF by Valkyrie was earlier approved by NASDAQ a couple of days ago. Reports suggest that Invesco has withdrawn its application for futures ETF. Hinting at its intentions towards a spot ETF in alliance with Galaxy Digital.
Ethereum ETF On The Cards
On the other hand, the CEO of Grayscale Investments believes that. It is likely for an Ethereum based ETF to be approved by the SEC. Following the approval of Bitcoin futures ETF. In addition, It is officially confirmed, that Grayscale plans to file an application with the U.S SEC. In order to convert its Bitcoin trust into an ETF.
The analyst expects, it to take over a year for the spot ETF to materialize. Possibly around the fourth quarter of 2022. SEC approving spot ETFs seems to be far-fetched, as they would have done it already with others. Futures ETF gets an upper hand over spot ETFs here. And the future ETFs have considerable time to rejoice in their market share.
Summing up, the futures ETF will be one of the major catalysts in Bitcoin Price surge this bull run. It could propel to the heights of its milestone at $100k. The futures ETF will be a guiding light for futures ETF from other cryptos. With the spot ETFs in place, we can expect an evolution in the crypto space.