Yes, the SEC has kicked can on bitcoin ETF approval BUT that is for the physically-backed ones under '33 Act. The futures ETFs filed under the '40 Act (which Genz loves) are very much alive and likely on schedule (we think 75% chance approved in Oct). Here's our odds: https://t.co/cSZ8aDsITl pic.twitter.com/DUEvRANvO7
— Eric Balchunas (@EricBalchunas) October 2, 2021
This is what crypto markets are trading now. The dominant narrative is a bitcoin ETF. Dissapoint or not, can worry about that later. https://t.co/aIv3BFZqI4
— Alex Krüger (@krugermacro) October 6, 2021
CME Futures basis in BTC blew out over last 24 hours,
1) Folks are front-running a futures-based BTC ETF
2) Short are getting margin-called,
And, likely both.
Allowing BTC to break from other risk-assets, driving the inflation/gold narrative at just the right moment.
— Mike Bucella (@MikeBucella) October 6, 2021
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.