Gary Gensler supports launching Bitcoin ETF futures

by in Cryptocurrency News

Gary Gensler

When Gary Gensler took over as head of the SEC, many expected him to legalize Bitcoin ETFs. However, until now, the American regulator under the leadership of Gensler has not approved a product focused on the cryptosphere.

  Analysts note that the slowness of the SEC is preventing institutional investors from entering the crypto market more actively. At the same time, Gensler himself does not oppose the approval of Bitcoin ETF futures. Investors can get opportunities to invest in futures contracts rather than cryptocurrency.   The head of the SEC recalled that the ETF product is already available to investors on the Chicago Stock Exchange through futures contracts. This is a completely legal way for institutions to enter the crypto sphere. Players can invest in digital currency through an associated instrument in strict accordance with the 1940 law.   According to Gensler, the authorities are ready to legalize bitcoin ETFs, but he did not even name the approximate dates for the appearance of the new product on the market. Many observers do not rule out that the Bitcoin ETF will be approved in October this year.   At the moment, almost 20 applications for launching ETFs for Bitcoin and Ether are pending with the Securities and Exchange Commission. In early August, Gary Gensler announced the need to regulate relations in the DeFi decentralized finance market.