US Securities and Exchange Commission might approve a Bitcoin ETF by early November

TL;DR Breakdown According to Mike McGlone of Bloomberg Intelligence, a Bitcoin ETF may be authorized by the U.S soon.Investors are flocking to Canada’s institutional crypto offerings.Bitcoin ETF may spur the next sustained move higher for BTC prices According to Mike McGlone of Bloomberg Intelligence, a Bitcoin ETF may be authorized by U.S. authorities by October. According to senior market strategist Mike McGlone, the approval process is likely to be completed by July 2020 It’s only a matter of time, according to Mike McGlone, who is also the founder, and chairman at Macro Trend Strategy. He thinks the U.S. Securities and Exchange Commission (SEC) will grant approval for the United States’ first Bitcoin ETF sooner or later. Canada’s increased competition against the U.S on the ETF front In an interview with Stansberry Investor host Daniela Cambone on Sept. 21, McGlone claimed that after allowing Bitcoin ETFs from 3iQ and Coinshares in April, Canada has extended a competitive advantage over the United States. He stressed that investors are flocking to Canada’s institutional crypto offerings, including Ark Invest. He thinks that US lawmakers will not want to miss out for much longer.  “I think there’s a very high probability that Bitcoin will be approved this year, by October 2020,” McGlone said. “The last time 3iQ filed for Bitcoin was January 4 of this year. The U.S. is no...