Living methacrylate polymers are obtained at room temperature and above by initiation with ketene silyl acetals in the presence of a soluble bifluoride catalyst. During the polymerization, a trialkylsilyl group is transferred from the living chain end to incoming monomer. The new procedure has thus been named group transfer polymerization (GTP). Monodisperse polymers with predetermined molecular weights as high as 100,000 can be obtained by adjusting the monomer/initiator ratio. Telechelic poly(methyl methacrylate) with hydroxy or carboxy ends can be obtained by using an initiator containing a protected hydroxy or carboxy group and coupling the resulting living polymer.