Bitcoin Spot ETF Rejection Coming? Matrixport Warns Investors of Pending SEC Decision
Bitcoin Bitcoin Spot ETF Rejection Coming? Matrixport Warns Investors of Pending SEC Decision In a surprising turn of events, Matrixport, a leading cryptocurrency financial services platform, merilis sebuah laporan warning investors of the potential rejection of all Bitcoin (BTC) spot ETFs by the U.S. Securities and Exchange Commission (SEC) in January. The report suggests that final approval may not be achieved until the second quarter of 2024. Matrixports analysis further predicts a significant decline in the price of Bitcoin, with recommendations for investors to consider put options or direct shorting of Bitcoin. The report challenges consensus expectations by asserting 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 filed for Bitcoinspot ETFs, awaiting approval from the SEC. Meanwhile, Matrixport indicates that they have observed frequent meetings between the ETF applicants and SEC staff. These interactions led to the applicants refiling their applications. According to Matrixport, all applications lack fulfillment of a critical requirement necessary for SEC approval. They suggest that this requirement could potentially be met by Q2, 2024. However, the expectation is that the SEC will reject all proposals in January. SECs political landscape The latest report emphasizes the political