According to a report by Bloomberg <\/em>on Thursday, the SEC is unlikely to stop the launch of a bitcoin futures ETF. The publication cites multiple sources familiar with the matter. The SEC is currently reviewing more than 40 Bitcoin ETF filings. Bloomberg indicates ProShares and Invesco as top applications that may get a green light from the SEC approval and begin trading as early as next week.<\/p>\n Notably, SEC Chair Gary Gensler has previously voiced his support for an ETF tied to Bitcoin futures, instead of the pure one tied to the actual underlying asset. Senior ETF analyst for Bloomberg, Eric Balchunas, suggests that a Bitcoin futures ETF being approved is a \u201cpretty much-done deal\u201d.<\/p>\n The approval of a Bitcoin futures-based ETF would mark a watershed moment for the crypto industry that has been trying to launch an ETF since 2013 with no luck. The U.S. financial regulator has been wary to approve Bitcoin ETFs on account of fears of possible market manipulation.<\/p>\n The Bitcoin price soared from around $57,400 to briefly hit the $60,000 mark on Friday shortly after the news of the BTC futures ETF approval by the SEC broke. The last time BTC changed hands above $60,000 was in April 2021. Bitcoin is now roughly 9% away from topping its April 14 historic peak of $64,824. The price of the pioneer cryptocurrency has settled at $59,442.84 at the time of publication, up 2.42% over the past 24 hours.<\/p>\n Meanwhile, pundits like Morgan Creek\u2019s Anthony Pompliano believe that the SEC\u2019s approval of a Bitcoin ETF will be \u201crocket fuel to an already explosive situation\u201d. He added:<\/p>\nBitcoin Jumps To $60,000 For First Time Since April<\/strong><\/h2>\n
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