Bloomberg Bitcoin ETF Analyst Questions Matrixport SEC Rejection Report
Eric Balchunas, Senior ETF Analyst at Bloomberg, has questioned the recent report by Matrixport that predicts the rejection of Bitcoin ETF applications by the SEC in January. Balchunas took to X to express his skepticism, stirring a wave of discussions.
Key Details:
- Matrixport speculated the SEC informed firms it would reject spot BTC ETF filings in January.
- Analyst says rejecting it now would refute months of positive guidance and sources.
Doubting the Bitcoin ETF Rejection Narrative
Despite Matrixport’s assertion of an imminent rejection, Eric Balchunas claims to have received no indications suggesting anything other than approval for the Bitcoin ETFs. Balchunas is puzzled by the sudden shift in sentiment at Matrixport.
Balchunas points out that such assertions are a departure from the earlier days of cryptocurrency discussions when skepticism was more prevalent. Now, with multiple mainstream news reporters reportedly having inside sources on the matter, Balchunas questions the validity of Matrixport’s claims.
Balchunas underscores the potential repercussions of Matrixport’s report, stating that if proven false, it could overturn a significant amount of trustworthy information. With a 90% approval likelihood, according to Balchunas, the rejection scenario would contradict numerous reputable sources.
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In the coming weeks, market participants will keenly observe any developments that might shed light on the SEC’s stance. This is important as the outcome will undoubtedly influence the trajectory of Bitcoin and the broader cryptocurrency market.
Following the Matrixport report, the prices of major cryptocurrencies took a nosedive. The global crypto market cap plunged by over 7% in the last few hours. Bitcoin touched $42,000 alongside Ethereum and other altcoins that exhibited single- and double-digit losses.
