- Eric Balchunas, a senior ETF analyst at Bloomberg, noted that the SEC-registered financial player Roundhill has applied for a Bitcoin Covered Call ETF.
- In response to Balchunas’s tweet, crypto enthusiasts emphasized the need for the SEC to introduce clear regulations that allow people to buy BTC directly.
- Analysts have mixed views on how Bitcoin’s price will react after ETF approval. Some believe that the upcoming ETF is already priced into the Bitcoin rally.
ETF analyst Eric Balchunas revealed that Roundhill Investments is eager to launch a Bitcoin ETF in its recent filing!
Roundhill Proposes Bitcoin ETF in Latest Filing
As developments around spot Bitcoin ETF approval gain momentum, more players are willing to join the bandwagon. Eric Balchunas, a senior ETF analyst at Bloomberg, noted that the SEC-registered financial player Roundhill has applied for a Bitcoin Covered Call ETF.
Roundhill recently submitted an application for a Bitcoin Covered Call ETF, which will include a Bitcoin futures ETF and involve call and option writing to generate income. Roundhill Investments is a registered investment adviser specializing in providing innovative ETF solutions.
Financial players are clearly exploring ways to offer Bitcoin exposure to institutional clients. In response to Balchunas’s tweet, crypto enthusiasts emphasized the need for the SEC to introduce clear regulations that allow people to buy BTC directly.
The SEC’s reluctance to approve a spot Bitcoin ETF has prompted financial institutions to create solutions by launching other products such as Bitcoin futures ETFs. However, the crypto community desires an ETF that allows users to directly own Bitcoin.
Current ETF Developments
Bitcoin’s price made a strong surge to $35,000 alongside expectations of Bitcoin ETF approval. Despite a partial correction, Bitcoin’s price also remains well above the $34,000 level.
SEC Chairman Gary Gensler confirmed that 8-10 applications for a physical Bitcoin ETF are under review. These remarks, reflecting a potential transformation in the market, are raising stakeholders’ expectations. He also emphasized the thorough review process that the regulatory agency applies to these applications submitted to the staff.
Analysts have mixed views on how Bitcoin’s price will react after ETF approval. Some believe that the Bitcoin rally is already priced in for the upcoming ETF. Others think that capital will flow into a Bitcoin ETF after SEC approval.
