"SEC Poised to Decline Matrixport's Spot Bitcoin ETF Proposals This January"

Matrixport predicts that the U.S. Securities and Exchange Commission (SEC) will reject all spot bitcoin ETF applications, citing the Democratic majority among the Commissioners and SEC Chair Gensler's cautious stance on crypto. Despite the anticipation of a spot BTC ETF driving significant investment and a price surge in bitcoin, the firm believes political and regulatory concerns will prevent approval, which is seen as a legitimization of Bitcoin as an alternative store of value. Bitcoin's price has recently dropped, with some of the decline potentially linked to these expectations.