The U.s.a. Securities and Commutation Commission is likely to approve a Bitcoin (BTC) futures exchange-traded fund (ETF) by the end of Oct, according to Bloomberg ETF experts.

Bloomberg ETF analysts Eric Balchunas and James Seyffart issued an investor note on Tuesday suggesting that concluding week'due south sharp withdrawals of Ether (ETH) futures ETF proposals past VanEck and ProShares could trigger the SEC's approval of a Bitcoin ETF.

"VanEck and ProShares' rapid withdrawal of proposals for Ethereum futures ETFs is a expert sign for a potential Bitcoin futures ETF, given the SEC has immune those filing to remain agile. A launch could come every bit soon every bit October, and we believe the SEC should allow several at in one case to avoid handing out a first-mover reward," the analysts said.

Balchunas noted that ProShares' Bitcoin futures ETF is among the proposals to be most likely canonical by the U.South. securities regulator. "We recollect Ether withdrawal shows SEC has olfactory organ in this rn and is in reg contact with issuers which should mean whatever kinks ironed out so that they can launch 75 days after filing," he added.

Related: Europe prepares for showtime Bitcoin futures launch amid United states ETF stalemate

The latest Bitcoin futures ETF forecast comes before long later nugget managers VanEck and ProShares suddenly withdrew their applications for Ether ETFs just ii days after filing paperwork with the SEC. However, a number of Bitcoin futures ETFs applications accept still remained active, with nugget managers such as Valkyrie, ProShares, Invesco and VanEck submitting Bitcoin futures ETF filings earlier this year.

As previously reported by Cointelegraph, SEC Chairman Gary Gensler recently suggested that the regulator might be open to blessing Bitcoin futures ETFs under the Investment Company Act of 1940.