Bitcoin ETF 🚀

Is the SEC really going to approve a BTC exchange traded fund (ETF) next week?
Ryan Sean Adams Ryan Sean Adams Oct 16, 20215 min read
Bitcoin ETF 🚀

We just released our epic podcast with Andrew Yang for Premium subscribers. Do not miss!

Dear Bankless Nation,

We’ve been asking the SEC for a Bitcoin ETF since 2013.

Is it really about to happen?

There are serious rumors of a U.S. Bitcoin ETF approval next week.

Both ProShares and Invesco have BTC futures exchange-traded funds lined up to start trading next week. If they don’t get blocked, they go live. And rumor has it that the SEC does not plan on blocking them.

Gary Gensler (@GaryGensler) | Twitter
The face of the man that’s going to send crypto 🚀🚀🚀

More evidence….

Valkyrie’s Bitcoin Strategy ETF is an investment product that features a list of companies holding BTC on their balance sheet. It was approved on Friday.

Meanwhile, in Europe, Jacobi Asset Management received approval yesterday for a tier-one BTC ETF which will be listed on the Europe Cboe.

All of this happened within the past two days. This is big.

I personally think the ETF will happen next week. And yet the skeptic in me can’t help wondering if this is just an olive branch from Gary Gensler right before he takes a chunk out of some other area of crypto.

Yet there remains hope while we have people in government like Hester Pierce.

Commissioner Pierce in her epic Lawless in Austin speech last week explained crypto to her peers using terms familiar to Bankless—crypto as the Journey West.

The West of the past called to people who were chafing against the staid and stale societies of the East and looking to throw themselves into building a new future in a more promising place.  The Western frontier was a place for the adventurous, the rough around the edges, the idealists, the free-thinkers, and the restless.

The idealists. The free-thinkers. The restless. The rough around the edges.

That’s us. That’s crypto.

Watch this video with our comments on the speech. 🔥

Then take some time to read it in full. (She even quoted Bankless!)

Once again I’m reminded that crypto is a battle for hearts and minds. Regulators aren’t machines. They’re not evil. They're people with values, beliefs, and independent thoughts. They’re just like us.

Our job is to show them why crypto is good for the world.

We have tailwinds now. A Bitcoin ETF is coming. We’re winning regulators to our cause. There’s renewed bullishness in the air…

We might even have a political party as an advocate…

The only question left is…

When Ethereum ETF?

Here’s what’s lined up for next week:

  • Epic podcast with Andrew Yang (early access here)
  • The case for why crypto is good for the enviornment
  • We teach you how to get paid by DAOs

Have a great weekend everyone.


P.S. Zerion recently launched some killer NFT features. Just plug in your wallet and start flexing your jpegs!

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Recap for the week of October 11th, 2021


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  1. Execute any good market opportunities you saw in Market Monday
  2. Collect NFTs on Layer 2
  3. Read about the next big unlock for DAOs 🔥
  4. Earn the best yields on your crypto money
  5. Share why you’re in crypto


  1. 🎙️ Listen to The Future of MakerDAO | Rune Christensen
  2. 📺 Watch The Rise of Rari Capital | Jai Bhavnani
  3. 📺 Watch Layer Zero: Pet3r Pan
  4. 📺 Watch Panel: Crypto Gaming | Loot, Yield Guild, Illuvium
  5. 📺 Watch Rollup: Coinbase NFTs | BTC ETF | DeFi 2.0 | Andrew Yang
  6. 📺 Watch TL;DR | Why DeFi 2.0 is Exploding


  1. Live the NFT way
  2. Level up on Axie Infinity Economics 101
  3. Mint Music NFTs on Ethereum


  1. Decentralized Arts #8
  2. The Scribe’s Quill #1
  3. Dev Guild Weekly

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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Ryan Sean Adams

Written by Ryan Sean Adams

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Crypto investor going bankless.

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