{"id":10547,"date":"2021-09-22T07:19:37","date_gmt":"2021-09-22T06:19:37","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=10547"},"modified":"2021-09-22T07:46:29","modified_gmt":"2021-09-22T06:46:29","slug":"bloomberg-commodity-strategist-predicts-bitcoin-etf-approval-in-the-us-next-month","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bloomberg-commodity-strategist-predicts-bitcoin-etf-approval-in-the-us-next-month\/","title":{"rendered":"Bloomberg commodity strategist predicts Bitcoin ETF approval in the US next month"},"content":{"rendered":"\n
Mike McGlone, a Bloomberg Intelligence commodity strategis<\/a>t, expects the US Securities and Exchange Commission (SEC) will approve the country's first Bitcoin ETF next month.<\/h5>\n\n\n\n
\"\"<\/figure>\n\n\n\n

McGlone claimed that Canada is increasing a competitive edge over the US after licensing Bitcoin ETFs from 3iQ and Coinshares in April in an interview with Stansberry Investor host Daniela Cambone on Sept. 21.<\/p>\n\n\n\n

He noted that money is pouring from the United States to institutional crypto products\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> in Canada, notably Cathie Wood's Ark Invest. He believes, however, that US lawmakers will not want to be left out for much longer.<\/p>\n\n\n\n

McGlone stated a prospective Bitcoin ETF clearance in the United States might happen \u201cpotentially by the end of October\u201d when questioned about a timetable.<\/p>\n\n\n\n

He insisted that it would most likely be a futures-backed product first and that it would provide a “legitimization window for a tremendous infusion of money.”<\/p>\n\n\n\n

McGlone also reaffirmed Bloomberg Intelligence's recent analysis, which indicated that Bitcoin values might reach $100,000 this year if an ETF is approved, adding that this would be driven by the establishment of an ETF.<\/p>\n\n\n\n

Lark Davis, a crypto YouTuber, agrees with McGlone's price forecasts<\/a>, noting that the last quarter of prior bull markets in 2013 and 2017 saw massive price increases.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Despite the fact that the number of applications it has received from potential issuers continues to grow, the SEC has yet to approve a crypto ETF.<\/p>\n\n\n\n

Fidelity Investments, a worldwide financial services corporation<\/a>, pushed the SEC earlier this month to establish an ETP, claiming that Bitcoin markets have already matured by the regulator's own standards.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mike McGlone, a Bloomberg Intelligence commodity strategist, expects the US Securities and Exchange Commission (SEC) will approve the country’s first Bitcoin ETF next month. McGlone claimed that Canada is increasing a competitive edge over the US after licensing Bitcoin ETFs from 3iQ and Coinshares in April in an interview with Stansberry Investor host Daniela Cambone […]<\/p>\n","protected":false},"author":12,"featured_media":10551,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,21],"tags":[1613,3879,4559,143],"class_list":["post-10547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-news","tag-bitcoin-etf","tag-bloomberg","tag-commodity-strategist","tag-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Bloomberg-Commodity-strategist-predicts-Bitcoin-ETF-approval-in-the-US-next-month.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=10547"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/10551"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=10547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=10547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=10547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}