Matrixport Predicts No Bitcoin ETF Approval in January
Matrixport has shifted its view on the likelihood of a Bitcoin ETF approval, now asserting that the U.S. Securities and Exchange Commission (SEC) will reject all such applications in January 2024. The company attributes this change in stance to the SEC’s current political dynamics and Chairman Gary Gensler’s personal opinions.
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Matrixport has shifted its view on the likelihood of a Bitcoin ETF approval, now asserting that the U.S. Securities and Exchange Commission (SEC) will reject all such applications in January 2024. The company attributes this change in stance to the SEC's current political dynamics and Chairman Gary Gensler's personal opinions.
“From a political perspective, there is no reason to approve a bitcoin spot ETF that would legitimize Bitcoin as an alternative store of value,” notes Matrixport.
This update marks a stark departure from Matrixport's earlier prediction in November 2023, which even pinpointed a potential approval date for Bitcoin ETFs (January 2-3, 2024). In contrast, some analysts, like Eric Balchunas, continue to anticipate a positive SEC decision by the end of this month.
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