Bitcoin ETF From 3iQ and CoinShares Tops C$1B AUM
"Reaching $1 billion in only three weeks speaks to the enormous market demand for bitcoin," said Fred Pye, CEO of 3iQ.
SEC staff intend to determine whether the "bitcoin futures market could accommodate ETFs," the note said.
Eric Balchunas thinks regulatory apprpoval in the U.S. will follow on the heels of successful launches in Canada.
The bitcoin fund launched last month and appears to have one $10 million investment so far, SEC filings show.
The SEC has 45 days to make an initial decision.
The SEC is currently evaluating VanEck's bitcoin ETF proposal.