Unlikely: SEC Hesitates on Spot Bitcoin ETFs, Says Balchunas

Matrixport Report Claims US SEC Will Reject Spot Bitcoin ETFs, Sparking Crypto Market Concerns

On Wednesday, a report from Matrixport sent shockwaves through the crypto world, claiming that the US Securities and Exchange Commission (SEC) will “reject” spot bitcoin exchange-traded funds (ETFs). This news resulted in an 8% drop in the price of bitcoin. According to the report, there is no political reason for the SEC to approve a bitcoin spot ETF, as it would legitimize bitcoin as an alternative store of value. However, Bloomberg Intelligence analyst Eric Balchunas questioned the report’s lack of sourcing, stating that it doesn’t align with what Bloomberg Intelligence has been reporting.