Bitcoin ETF Decisions to Be Made by the US Securities and Exchange Commission (SEC)
Bitcoin ETF Decisions to Be Made by the US Securities and Exchange Commission (SEC)
Bitcoin and altcoin volatility is expected to increase
The U.S. Securities and Exchange Commission (SEC) is anticipated to make a significant decision regarding spot Bitcoin exchange-traded funds (ETFs). The announcement, expected by January 10th, could potentially kickstart trading in the following week.
This news has stirred considerable speculation within cryptocurrency markets, leading to notable volatility. A recent report from Matrixport suggested that the SEC might reject these applications—an assertion contributing to an 11% decrease in Bitcoin value and over 30% drop in altcoins.
Matrixport report sparks ongoing debate
However, this prediction was challenged by ETF analysts Eric Balchunas and James Seyffart who believe that the odds of rejection are low. Their confidence appears shared by other analysts and ETF issuers who anticipate a favorable outcome from the SEC before January 10th.
Supporting this positive sentiment are recent meetings between SEC lawyers and representatives from major exchanges like NYSE, Nasdaq, and CBOE. These interactions have been interpreted as indicators of potential approval for some or all product applications under review.
