Buyers hope that this new financial product – commonly referred to as ETFs – will allow more traditional financial players to participate in the market.
The approval of a bitcoin-linked instrument on a regular market would allow cryptocurrencies to expand to a wider audience, and would be seen as a milestone for market promoters, who have long sought greater acceptance on Wall Street.
There are currently about 40 applications for bitcoin ETFs and, according to sources consulted by the agency Bloomberg, it is expected that there will be no objection for one of them (the ProShares ETF) to debut on the New York Stock Exchange today, and then do the same. four others.
Since 2013, the US Securities and Exchange Commission (SEC) has consistently rejected multiple applications to create these publicly traded funds that replicate the price of bitcoin. But the regulator could approve the launch of these products next week, according to Bloomberg, which cites sources close to the matter.
On its Twitter account, the SEC wrote Thursday night: “Before investing in a fund that has futures contracts on bitcoin, make sure you have weighed the risks and rewards,” a message seen by crypto enthusiasts. as a sign that the funds will be accepted soon.
“This is a key moment for cryptocurrencies,” said Walid Koudmani, an analyst at XTB. “In the long term, this is important news, as it indicates that the authorities are accepting the idea of people owning crypto assets,” Charlie Erith, head of cryptocurrency manager ByteTree Asset Management, told AFP. Regulators remain ambivalent about a decentralized and dematerialized sector.
In China, for example, the authorities have completely banned bitcoin exchange platforms. And the authorities in Europe and the United States are not much more enthusiastic about it.