SEC Talks About Spot Bitcoin ETFs with Major Exchanges

Today, the U.S. Securities and Exchange Commission (SEC) is in discussions with major stock exchanges, including the New York Stock Exchange, Nasdaq, and the Chicago Board Options Exchange (CBOE), to delve into the topic of spot Bitcoin ETFs.

 This development was brought to our attention by a Fox Business reporter, offering a ray of hope to the broader cryptocurrency community. It follows a statement from Matrixport, a crypto services company, suggesting that the SEC might reject all ETF applications in January. Following this news, the crypto market took a hit, losing over $540 million in just four hours.

Contrary to Matrixport’s prediction of probable rejections, Bloomberg analysts have stated that there is no substantial evidence to support such a claim. An interesting exchange unfolded between Bloomberg’s Eric Balchunas and Matrixport’s Markus Thielen, the author of the report hinting at potential rejections. Thielen Explains His Bitcoin View Without Insider Info from SEC or ETFs.

However, the tone of today’s meeting suggests a more optimistic outlook. It aligns with the general market expectation that the SEC might approve the applications, possibly as early as next week. January 10th emerges as a crucial date, marking the deadline for numerous spot Bitcoin ETF proposals.