Matrixport’s Claims: Unraveling the Controversial Report
A recent report from Matrixport, a crypto financial services firm founded by Jihan Wu, has sent shockwaves through the cryptocurrency market. The report delves into the likelihood of a U.S. SEC approval for a spot Bitcoin ETF, a topic that has been hotly debated among investors and market analysts. However, the contents of the report have raised eyebrows and sparked intense scrutiny.
Scrutinizing Matrixport’s Perplexing Claims About ETF Approval
The Matrixport report makes several perplexing claims that have left many scratching their heads. One of the main claims is that Franklin Templeton’s ETF filing in September was the catalyst for the bull run. This assertion, however, disregards the fact that other major players like Invesco and Fidelity had already filed for ETFs, overshadowing the influence of Franklin Templeton. Additionally, the report incorrectly identifies September as the start of the bull run, ignoring the significant impact of a false Cointelegraph tweet and a subsequent gamma squeeze in October.
Furthermore, the report suggests that all ETF applications are missing a critical requirement, presumably referring to the agreements with Coinbase. However, this overlooks a crucial ruling from the DC Circuit Court of Appeals, which determined that surveillance of futures markets is sufficient as they closely align with spot prices.
A Closer Look at Matrixport’s Questionable Assertions on ETF Requirements
The third claim made by Matrixport’s report is that the SEC commissioners would reject the ETFs even if staff recommendations were positive. This prediction raises eyebrows, as it fails to acknowledge the substantial evolution of the market and the serious nature of the current issuers. The crypto market has seen significant growth and maturity over the past decade, and the current issuers have taken great strides in addressing regulatory concerns.
Matrixport’s Doubtful Prediction: SEC’s Mysterious Stance on ETF Approvals
Matrixport’s report has left many investors and analysts questioning the accuracy of its predictions. The claim that the SEC would reject ETFs even with positive staff recommendations seems dubious, considering the increasing pressure to embrace digital assets and the potential benefits that a Bitcoin ETF could bring to the market. While the SEC has been cautious in the past, it is important to consider the changing landscape and the potential for a more open stance on ETF approvals.
Jihan Wu’s Response: An Attempt to Calm the Market Amidst the Report’s Turmoil
In response to the controversy surrounding the Matrixport report, Jihan Wu, the founder of the firm, emphasized the independence of the analysts who produced the report. He distanced the company’s management from the report’s conclusions and highlighted other market factors, such as the fluctuating Bitcoin perpetual markets and downturns in crypto-related stocks, as reasons for the recent price volatility of Bitcoin.
Wu maintained his confidence in the long-term potential of Bitcoin and expressed optimism about the eventual approval of a spot Bitcoin ETF. It remains to be seen how the market will react to Wu’s assurance and whether the Matrixport report will continue to generate debate and scrutiny.
Analyst comment
This news can be considered negative as it raises doubts and scrutiny about the claims made in Matrixport’s report. The market may react with caution and skepticism as investors question the accuracy of the report’s predictions. However, Jihan Wu’s response trying to calm the market may provide some reassurance. Ultimately, the market’s reaction will depend on the level of trust in the report and the perceived impact of a Bitcoin ETF approval.
