Cantor Fitzgerald Is ‘Increasingly Confident’ a Bitcoin ETF Will Win Approval
- Approval is ‘most important’ short-term price catalyst
- Recent ETF applications different from previously proposals
Bitcoin has jumped about 25% in the past two weeks, climbing to more than $35,000, the highest level is almost 18 months.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
Recent revisions made by asset managers to applications to offer a US exchange-traded fund that invests directly in Bitcoin has Cantor Fitzgerald “increasingly confident” that the Securities and Exchange Commission will grant approval.
Unlike previous applications that were rejected, Josh Siegler and Will Carlson, research analysts at Cantor, said SEC officials are more likely to green-light the newly filed proposals. They cited the application by Wall-Street heavyweight BlackRock Inc. and a victory in the court for Grayscale Investments LLC in its bid to convert its trust over objections from the SEC.