BlockFi filed to offer a bitcoin futures exchange traded fund (ETF) Friday, joining a race that industry experts believe could reach a crescendo in weeks.
The fund, “BlockFi Bitcoin Strategy ETF,” would only invest in futures contracts traded on the CME, according to regulatory filings. It would be registered under the so-called ‘40 Act. Those attributes are in line with a hypothetical bitcoin ETF that SEC chair Gary Gensler has hinted may finally receive the long-sought approval.
BlockFi has virtually no chance of crossing the finish line first, however. A bevy of similar offerings are set for final verdict later this month. ETF experts believe one is likely to be approved, particularly after Gensler’s comments in recent weeks.
Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, said he predicts one or more applications will receive an approval this month.
A representative for BlockFi did not pick up the phone.
