The SEC Is Set To Approve Bitcoin Futures ETF

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In light of the recent Bitcoin ETF approval, below is a commentary from Josh Rogers, CEO and Founder of Minterest, a value-capturing lending and borrowing protocol designed to make DeFi fairer for users.

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The First Bitcoin Futures ETF

“Getting SEC approval on anything related to Bitcoin or cryptocurrencies has been an uphill battle since bitcoin’s launch over 10 years ago. This is proof positive that regulators are becoming less sceptical of crypto, and this gives the markets enormous encouragement. It shows that the sceptics are moving into the adoption phase, and this creates an incredibly powerful network effect, as more influential people enter the market the more it entrenches its position. I believe in 5 or so years the questions about crypto viability will be a thing of the past like the internet or the great disruptors such as Uber and AirBnB, they are now very much a part of our daily lives.”

It’s impossible to say how long the market will be buoyed by the approvals, as we all know, Bitcoin prices don’t always rally as predicted. However, the approval-should help to support the price in the long-term as it paves the way for other regulators and industries to give the nod for other crypto related financial products, and this will be an excellent move forward for crypto as these tacit endorsements are providing additional support for its longevity.”

It would appear that the SEC views Bitcoin Futures ETF’ as a safer investment vehicle for investors. as they are filed under mutual fund rules. Understandably the SEC has to take investor protection seriously and this kind of ETF has helped crack open the doors.”

There has been enormous pressure of the SEC to approve Bitcoin Futures ETF’s and a myriad of other crypto investment products. If you look at the growth of the entire industry, for example DeFi and NFT’s, it is increasingly evident that cryptos are not a fad and nor are they going wither away.  Cryptocurrencies are no longer alien forces on the traditional financial services landscape. As mass adoption grows, so will the demand for these types of products. It’s a case of “better the devil you know for regulators.”