Bitcoin mutual funds in early October this year

The US Securities and Exchange Commission (SEC) has given the green light to Bitcoin mutual funds in early October this year. This statement was revealed by Mike McGlone of Bloomberg.He also predicts that the price of Bitcoin mutual funds will touch the price of $100,000 per coin by the end of the year.
McGlone added that cryptocurrencies are now on their way to replace gold, just as cars have succeeded in replacing horses as a means of transportation today. Discussion “Will SEC regulators approve Bitcoin mutual funds?” It has been going on for years. The United States has submitted many proposals to the SEC, but none has been approved.

Yet at the same time, Canada, among other countries, already has such products directly. As a result, the northern neighbor of the United States chose to attract investors, such as Cathie Wood's ARK Invest who wanted exposure to Bitcoin mutual funds.

That way, the SEC will be encouraged to approve exchange-traded funds and then track Bitcoin's performance, even if it's futures. This is what made the Bloomberg strategist confident to state that Bitcoin will also get the green light to skyrocket to $100,000 by the end of the year.

And earlier in September, Fidelity Investments, a company that has filed multiple applications with the SEC to have its own BTC ETF, had urged regulators to approve such a product. The 'coercion' aims to increase the legitimacy of assets among certain investors