{"id":342550,"date":"2021-09-22T08:18:56","date_gmt":"2021-09-22T05:18:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/commodity-strategist-predicts-bitcoin-etf-could-get-the-nod-in-us-next-month\/"},"modified":"2021-09-22T08:18:56","modified_gmt":"2021-09-22T05:18:56","slug":"commodity-strategist-predicts-bitcoin-etf-could-get-the-nod-in-us-next-month","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/commodity-strategist-predicts-bitcoin-etf-could-get-the-nod-in-us-next-month\/","title":{"rendered":"# Commodity strategist predicts Bitcoin ETF could get the nod in US next month"},"content":{"rendered":"

“# Commodity strategist predicts Bitcoin ETF could get the nod in US next month <\/strong>”
\n<\/p>\n

Bloomberg Intelligence Commodity Strategist Mike McGlone believes it is only a matter of time before the U.S. Securities and Exchange Commission (SEC) app<\/a>roves the country\u2019s first Bitcoin exchange-traded fund (ETF).<\/p>\n

In an interview<\/a> with Stansberry Investor host Daniela Cambone on Sept. 21, McGlone asserted that Canada is extending a competitive lead over the United States after approving Bitcoin ETFs from 3iQ and Coinshares in April.<\/p>\n

He emphasized that capital is flowing from the U.S. to Canada\u2019s institutional crypto products, including from Cathie Wood\u2019s Ark Invest. However, he believes that lawmakers in the United States will not want to miss out for much longer.<\/p>\n

When asked about a timeframe on potential U.S. Bitcoin ETF approval, McGlone said it could happen \u201cpotentially by the end of October.\u201d He maintained that it was likely to be a futures-backed product first, adding that it would open a \u201clegitimization window for a massive amount of money inflow.\u201d<\/p>\n

McGlone also reiterated the latest report from Bloomberg Intelligence that stated Bitcoin prices hitting $100,000 was a possibility this year, and this would be driven by the approval of an ETF.<\/p>\n

Crypto YouTube<\/a>r Lark Davis shares McGlone\u2019s price targets, observing that in previous bull markets in 2013 and 2017, the latter quarters saw huge price rallies.<\/p>\n

\n

#bitcoin<\/a> still going to 100k this year, Q4 2013 and Q4 2017 both saw 300% + rallies.<\/p>\n

What would make BTC do that again? <\/p>\n

A BTC ETF getting approved in the USA.<\/p>\n

\u2014 Lark Davis (@TheCryptoLark) September 22, 2021<\/a><\/p><\/blockquote>\n