As the January 10 deadline for the US Securities and Exchange Commission (SEC) to decide on a series of spot Bitcoin Exchange-Traded Funds (ETFs) approaches, there is speculation about the outcome. Bloomberg’s ETF expert believes that while there is a chance of a delay in approval, it does not necessarily mean denial. Another analysis from Matrixport suggests that the approval might be deferred until Q2 2024 due to regulatory challenges and SEC Chair Gary Gensler’s cautious stance on crypto. This could potentially lead to a 20% correction in Bitcoin’s price. Greeks Live has observed a decrease in confidence in ETF approval based on options trades.
A delay or rejection of the ETFs could have significant market implications, leading to a rapid unwinding of positions and a decrease in Bitcoin prices.
Bloomberg’s Insight: A Matter of Timing, Not Denial
Bloomberg’s ETF expert suggests that a delay in approval should not be seen as a final rejection.
Matrixport’s Pessimistic Outlook: A Delay To Q2 2024
Matrixport anticipates a delay in approval until Q2 2024 due to regulatory challenges and SEC Chair Gary Gensler’s cautious stance on crypto.
Greeks Live’s Analysis: Decreasing Confidence
Greeks Live has observed reduced market expectations for ETF approval based on options trades.
Hot Take: Potential Market Implications
A delay or rejection of Bitcoin ETFs could lead to position unwinding and a sharp decrease in Bitcoin prices.
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