A bitcoin futures ETF is coming next week. It could soon send the token soaring to $85,000, one analyst says.

A bitcoin futures ETF is coming next week. It could soon send the token soaring to $85,000, one analyst says.

A futures exchange-traded fund is set to launch next week and is making the crypto industry very excited. It's not quite the pure bitcoin ETF that many crypto enthusiasts were hoping for, but analysts say it should still drive institutions towards the digital-asset market like never before. If investors buy into the fund heavily, bitcoin could hit a record high of $85,000 in the coming months, according to Edward Moya, senior market analyst at trading platform Oanda. Bitcoin last week for the first time since April as excitement built. It was roughly flat on Sunday at $61,050, according to Bloomberg prices, putting it within reach of April's all-time high of just under $65,000. "A successful bitcoin ETF launch next week could easily support bitcoin's run to record territory," Moya said. "Bitcoin mania has been brewing on social media platforms over the past couple weeks." "[If] initial trading volumes are strong, bitcoin could have enough momentum to target the $74,500 region," Moya said. He added that bitcoin "could have a path towards $85,000" in the coming months. Simon Peters, cryptoasset analyst at eToro, said: "The market is clearly reacting positively as we edge ever closer to the 'holy grail' of a