Cryptocurrency company Matrixport says SEC will not accept applications for spot Bitcoin ETFs in January Wrote.
In the report published by Matrixport, it was stated that the five members who have authority to approve ETF applications at the SEC democrat and SEC Chairman Gary Gensler’s spot Bitcoin ETF It is unlikely that he will vote positively It was stated that.
“Judging by his statements in December 2023, Gensler thinks that this industry still needs to comply with the law more strictly.” In the report called “From a political perspective, there is no reason to approve a spot Bitcoin ETF that would legitimize Bitcoin as an alternative store of value.” comment was made.
Matrixport team stated that the price of Bitcoin has increased in the reports they shared in the past weeks. It could be $45,000 by the end of 2023 He had predicted.
Analysts say the SEC until January 5 If no approval decision is taken Short selling Bitcoin He explained that it could be a suitable investment choice. A rejection decision regarding ETFs It could trigger a 20% decline in Bitcoin in a short time. is considered.
Matrixport, though ETF applications may be approved in the second quarter of the year He added and commented:
“Even if the SEC rejects ETFs, we expect Bitcoin to be higher at the end of 2024 compared to its price at the beginning of the year, because years with elections and halvings in the US tend to be positive.”