Cryptocurrencies go on a rampage as we head toward the ETF decision this weekend

Today most of the major cryptocurrencies exploded into life ahead of the SEC’s ETF decision on the weekend.

Just this week the Bitwise head of research said he was confident about the proposal and believes that the Bakkt futures development could play a key role.

In the past, the SEC have cited exchange manipulation and mispricing as a reason to knock back the decision but this time that reason could be obsolete as there are new futures products and custody agreements in place.

VanEck and SolidX decided to pull back from launching an ETF after they found a loophole to bring the product to market with a select few institutional investors. The loophole meant they could get the business they needed without jumping through hoops for the SEC who had already delayed their decision on the product twice. 

After the launch of Bakkt futures, the take up had been disappointing but that was not the point. CME has had a futures product for a while. The point was the…