Mike McGlone, a commodity strategist, believes it will only be a matter of time before the SEC of the United States authorises the country's first Bitcoin exchange-traded fund (ETF). Despite the fact that the number of applications from potential issuers continues to grow, the SEC has yet to approve a Crypto ETF. He predicted that the first product would be a futures-backed product, which would provide a “legitimization window for a massive amount of money inflow.”