Bitcoin spot ETF as SEC backs BTC Futures ETF

U.S. Securities and Exchange Commission has approved another Bitcoin futures ETF. Could this mean a spot ETF is on its way Institutional investors rejoice, as there's one further way to gain exposure to Bitcoin (BTC)? The United States Securities and Exchange Commission (SEC) blazoned overnight the blessing of a fourth Bitcoin futures exchange-traded fund (ETF).

Fund group Teucrium is behind the most lately approved Bitcoin Futures ETF. The ETF joins a growing number of approved futures ETFs, completing ProShares, Valkyrie, and VanEck Bitcoin Futures ETFs.

Every Bitcoin spot ETF has been rejected to date. For one invested bystander, still, how the blessing was made could be a boon for expectant spot investors.

In a Twitter thread, Grayscale CEO Michael Sonnenshein formerly again banged the barrel for a Bitcoin spotETF.Sonnenshein manages the Grayscale Bitcoin Trust, one of the main avenues for buying Bitcoin in the traditional world.

Sonnenshein twittered that “ if the SEC is comfortable with a Bitcoin futures ETF, they must also be comfortable with a spot Bitcoin ETF.”

His argument surmises that as “ all Bitcoin futures ETFs are created equal” and that the Teucrium falls under a 1933 act and not the 1940 act, which the other three ETFs fall under, also the argument for filing a Bitcoin spot ETF becomes “ stronger.

Sonnenshein has been an exponent and promoter of the creation of a Bitcoin spot ETF for some time. The company participated in plans to convert the GBTC Trust into an ETF in October 2021. With over$ 35 billion in means under operation, the GBTC Trust is the largest in the heritage finance world — the conversion to a spot ETF would be consequential.

Bloomberg critic Eric Balchunas shares his view that it‘s a “ good sign for spot,” meaning a Bitcoin spot ETF.

Still, while investors stay with bated breath for a Bitcoin Spot ETF, critic Doomberg suggests that the issue may not relate to different acts but because futures contracts are “ settled in cash.”

Gary Gensler, Chair of the SEC, may be blocking the spot ETFs because “ as long as finances flow into spot ETFs briskly than they're redeemed, the net effect provides US bone exit liquidity to those looking to cash out their Bitcoin.”

In the meantime, ProShares lately filed with the SEC for its Short Bitcoin Strategy ETF as the Bitcoin spot ETF saga continues.