Matrixport Predicts Rejection of Bitcoin ETFs in January 2024

Financial firm Matrixport has expressed an opinion on the potential rejection of applications to launch the first Bitcoin ETFs in the US. This comes in light of changes made by the SEC to the requirements for candidates wishing to launch cryptocurrency-based ETFs. Matrixport claims that existing obstacles and uncertainties may only be resolved by the end of the second quarter of 2024.

In anticipation of this news, expectations of the launch of Bitcoin ETFs have sparked a wave of optimistic forecasts from analysts. However, according to Matrixport, the SEC leaves some legally justified difficulties in the way of launching these investment products. The company anticipates the rejection of all proposals in January, although the possible resolution of issues is expected in the second quarter of 2024.

It is expected that this decision by the SEC will lead to a correction in the price of Bitcoin, considering the influx into the cryptocurrency market of over $14 billion since September 2023, primarily due to ETF expectations.