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SEC Engages Exchanges In Final Bitcoin ETF Discussions

 1 year ago
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SEC Engages Exchanges In Final Bitcoin ETF Discussions

Cryptocurrency Market Dips On Rumors Of Impending Regulator Rejections.

SEC Engages Exchanges in Final Bitcoin ETF Discussions
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The U.S. Securities and Exchange Commission (SEC) is set to meet with stock exchanges for a final discussion on the Bitcoin ETF.

On Dec. 3, Eleanor Tarret from FOX Business reported on her X account that the SEC plans to meet with the New York Stock Exchange, Nasdaq, and The Chicago Board Options Exchange.

The Bitcoin ETF has been a persistent topic for weeks. The key questions revolve around the decision the SEC will make and when it will be made.

The regulator has until Jan. 10 to announce its decision. Some insiders suggested that the SEC was anticipated to respond either yesterday or today.

However, according to Charles Gasparino from FOX Business, the response is expected to be delayed until the end of the week. The regulator is taking the time to review all updated Bitcoin-ETF applications.

How Matrixport’s research on Bitcoin ETFs crashed the crypto market

On Jan. 2, analysts at Matrixport predicted a surge of the cryptocurrency to $50,000, citing a high likelihood of approval for a Bitcoin ETF. In response, the price of BTC has already exceeded $45,000.

Just a day later, on Jan. 3, Matrixport released another study that contradicted their previous forecast. In this report, they stated that the SEC is now less likely to approve Bitcoin ETFs in the near future.

Experts from Greece shared a similar perspective, suggesting that institutional investors have lost interest in Bitcoin ETFs as they are instead acquiring collapsed puts.

The crypto community views it as FUD (Fear, Uncertainty, Doubt). A trader Plan B suggested it might be a manipulation tactic to reduce stop-loss positions before the next price jump. Bitcoin was dropping to $40,813 at that moment.

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