Latest News: SEC Allows Bitcoin Futures ETF For the First Time

For the first time, the US SEC (United States Securities and Exchange Commission) has approved a Bitcoin futures ETF (Exchange Traded Funds). This happened after five commissioners decided to meet and discuss the matter.

Investors are waiting for this to happen for a long time, as they are trying different trial and error methods to make it available for the masses.

ProShares may launch the product first, probably by Monday, October 18th. It may take some time to become fully operational, though.

Those who first proposed the idea think that these funds can make cryptocurrencies available for the masses. The fund will keep an eye on the futures, not on the price.

According to SEC chair Gary Gensler, these futures-based products will be the best option in the future. However, he thinks that stronger rules must be applied to them.

As the SEC was always ready to reject these products, the green light is an encouraging sign. It can bridge the gap between the conventional and unconventional financial markets, says ETFStore President Nate Geraci.

Another analyst, James Seyffart thinks that this is a good sign for a launch. Like these tweo, most people would agree that this is a long time coming.