Bitcoins price risk slumping to $36k if SEC denies ETF applications, Matrixport warns
Bitcoin Цена биткойна рискует упасть до $36 тыс., если SEC откажет в подаче заявки на ETF, предупреждает Matrixport The U.S. Securities and Exchange Commission (SEC) might end up rejecting all applications for a spot Bitcoin exchange-traded fund (ETF) because “they fall short of a critical requirement,” digital asset management firm Matrixport wrote in a Jan. 3 note. This comes a day after Matrixport said Bitcoin could pump to $50k before the weekend. Instead, the firm stated that the regulator might approve these applications by this years second quarter. Why will the SEC reject the applications? The platform pointed out that SEC Chair Gary Gensler‘s attitude towards crypto remains negative as he has consistently noted the industry’s lack of compliance. According to the firm, Gensler‘s consistent emphasis on the industry’s regulatory compliance gaps signals a potential vote against the ETF, which could otherwise catalyze widespread investment in crypto. “An ETF would certainly enable crypto overall to take off, and based on Genslers comments in December 2023, he still sees this industry in need of more stringent compliance,” Matrixport said. Matrixport further highlighted that most voting commissioners approving such funds align with the Democratic party, a faction known for harboring anti-crypto sentiments. Notably, figures like Senator Elizabeth Warren, a prominent Democrat,