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Bloomberg Analyst: Bitcoin ETF licensing may be issued next month


Mike McGlone, a senior analyst at Bloomberg, says the US Stock Exchange Commission is likely to issue a Bitcoin exchange-traded fund (ETF) by the end of October.

to the Report In an interview with Stansberry Research, McGlone predicted that the United States would likely follow Canada in dealing with Bitcoin-traded funds. Canada has already approved the issuance of several tradable funds on the Bitcoin and Ethereum exchanges.

He says US lawmakers are under a lot of pressure as new demands pile up.

McGellon said in an interview that futures traded stocks are likely to be a launching pad for the US Securities and Exchange Commission.

Futures-based ETFs are financial products that aim to provide an alternative way of indirectly investing in the futures market of a particular asset.

“McGellon said:

[صندوق‌های قابل‌معامله در بورس] Futures contracts may not be the best option, but they are better than nothing. This [محصولات] Only by legitimizing [به موضوع] They open the way for a lot of money.

Eric Balchunas, chief stock fund strategist at the Bloomberg Stock Exchange, also expects the licenses to be issued by the end of November.

McGlown still adheres to his predictions about bitcoin. He had previously said that the price of bitcoin, despite recent improvements, will probably reach $ 100,000 by the end of this year. Earlier today, the price of Bitcoin reached $ 40,192 for a while. This is the lowest price of bitcoin since August 5 (August 14).

Ray Dalio recently told a CNBC reporter that lawmakers are likely to destroy bitcoin. “The only way to do that is to ‘ban the Internet,'” McGlown said, referring to Ray Dalio’s remarks.

He went on to point out that the possibility of banning bitcoin in the United States has decreased with the expansion of the acceptance of digital currencies in this country.

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