Is Bitcoin Spot ETF Rejection Nearing? Matrixport warns investors about pending SEC decision

Is Bitcoin Spot ETF Rejection Nearing?  Matrixport warns investors about pending SEC decision

In a surprising turn of events, Matrixport, a leading cryptocurrency financial services platform, published a report warning investors about the possible rejection of all Bitcoin (BTC) spot ETFs by the US Securities and Exchange Commission (SEC) in January. The report suggests that final approval may not be achieved until the second quarter of 2024.

In a surprising turn of events, Matrixport, a leading cryptocurrency financial services platform, published a report warning investors about the possible rejection of all Bitcoin (BTC) spot ETFs by the US Securities and Exchange Commission (SEC) in January. The report suggests that final approval may not be achieved until the second quarter of 2024.

Matrixport analysis further predicts a significant drop in the price of Bitcoin, with recommendations for investors to consider put options or direct short sales of Bitcoin. The report challenges consensus expectations by stating that the SEC will likely reject all pending Bitcoin spot ETF applications.

Notably, major financial institutions such as BlackRock, Fidelity, Ark Invest, and VanEck have applied for Bitcoinspot ETFs, pending SEC approval. Meanwhile, Matrixport indicates that they have observed frequent meetings between ETF applicants and SEC staff.

These interactions led applicants to resubmit their applications. According to Matrixport, all of the applications lack compliance with a critical requirement necessary for SEC approval. They suggest this requirement could be met in the second quarter of 2024. However, the expectation is that the SEC will reject all proposals in January.

The political landscape of the SEC

The latest report emphasizes the political landscape at the SEC, indicating that the current five-person voting commissioners, led by Democrats, may influence the decision. SEC Chairman Gary Gensler cautious approach to cryptocurrencies increases skepticism, as it has not adopted cryptocurrencies in the US.

This, according to Matrixport, suggests a possible reluctance to approve Bitcoin spot ETFs. The report suggests that Gensler believes the crypto industry requires stricter compliance, making the approval of a Bitcoin ETF unlikely. The possible rejection of Bitcoin ETFs could have major repercussions for the market.

Matrixport estimates that approximately $14 billion additional fiat money and leverage has been deployed in the cryptocurrency market since traders began speculating about the ETF’s approval in September 2023. If the SEC denies approval, the report anticipates cascading liquidations, with Bitcoin prices potentially falling 20% ​​quickly. , returning to the $36,000/$38,000 range.

Despite the possible rejection of the ETF, Matrixport expresses optimism about Bitcoin’s long-term prospects. It still expects the price of Bitcoin to surpass its starting point of the year ($42,000) by the end of 2024. As Guru-Investingreported, Matrixport had previously forecast that the price of Bitcoin was positioned to reach $50,000 in January. However, the latest report indicates a change in their outlook.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
follow telegram
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة