Thomas Daniels
Today, the U.S. Securities and Exchange Commission (SEC) is convening with key stock exchanges, such as the New York Stock Exchange, Nasdaq, and the Chicago Board Options Exchange (CBOE), to discuss the matter of spot Bitcoin ETFs.
This development was brought to light by a Fox Business reporter, offering a glimmer of hope to the broader cryptocurrency community. This comes in the wake of a statement by crypto services company Matrixport, which suggested that the SEC might reject all ETF applications in January. Following this news, the crypto market experienced a significant downturn, losing over $540 million in just four hours.
Contrary to Matrixport’s prediction of likely rejections, Bloomberg analysts have indicated that there is no substantial proof to support such a claim. A notable exchange ensued between Bloomberg’s Eric Balchunas and Matrixport’s Markus Thielen, the author of the report hinting at potential rejections. Thielen clarified that his report was not based on insider information from the SEC or the ETF applications but rather on a consensus among researchers, leading him to adopt a pessimistic view on Bitcoin.
However, the tone of today’s meeting points to a more hopeful perspective. It aligns with the general market anticipation that the SEC might approve the applications, possibly as early as the next week. January 10th stands out as a pivotal date, marking the deadline for the many spot Bitcoin ETF proposals.
