Senior ETF Analyst Doubts SEC Rejection of Bitcoin ETF Applications
A senior ETF analyst has expressed skepticism about a report from Matrixport, a crypto investment services provider, which suggests that the SEC may reject all spot Bitcoin ETF applications in January. The analyst, Eric Balchunas, questioned the accuracy of the report and asked for sources to support its claims. In response, Markus Thielson, head of research at Matrixport, clarified that the report was not based on insider information but rather on his own analysis. Thielson stated that he had turned bearish on the prospects of approval for Bitcoin ETFs. This comes after a morning of volatility for Bitcoin, with a significant drop in price coinciding with the release of Matrixport’s report.
Matrixport Co-founder Denies Planned Dissemination of Report
The co-founder of Matrixport, Jihan Wu, took to Twitter to clarify that the rapid dissemination of the report was not planned by the company and was beyond their control. He emphasized that Matrixport analysts operate independently and their opinions are not influenced by management. Wu expressed his belief that the approval of a spot Bitcoin ETF by the SEC is inevitable and will attract fresh investment into Bitcoin.
Accusations of Market Manipulation Surface
Some members of the crypto community have accused Matrixport of market manipulation due to the release of their report. They argue that the report’s negative outlook on Bitcoin ETF approvals could have influenced market sentiment and led to selling pressure. Concerns have been raised about the timing and impact of such reports. Despite these allegations, Bitcoin remained down 5% at the time of writing.
Hot Take: Uncertainty Surrounding SEC’s Decision on Bitcoin ETFs
A recent report from Matrixport has sparked debate and uncertainty regarding the SEC’s decision on spot Bitcoin ETF applications. While the report suggests that all proposals will be rejected in January, a senior ETF analyst expresses doubt and requests sources to support the claims. The co-founder of Matrixport denies any planned dissemination of the report, stating that analysts operate independently. However, accusations of market manipulation have emerged, with some attributing Bitcoin’s drop in price to the negative sentiment created by the report. As the crypto community awaits the SEC’s decision, uncertainty and volatility continue to surround Bitcoin ETFs.
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