Bitcoin ETF

Bitcoin

<p class="is-style-lead">Options trading analysts pointed to Jan. 10 and beyond as the timeline for an SEC decision on spot Bitcoin ETFs amid bearish speculation that all applications may be rejected.</p> 
<p>Greekslive noted that a U.S. Securities and Exchange Commission (SEC) stand on spot Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) ETFs was unlikely to arrive before Jan. 7, citing stock price actions from crypto mining operations and digital asset-related companies in America.&nbsp;</p> 
<blockquote class="wp-block-quote"> 
 <p>Current month puts are now cheaper, and block trades are starting to see active put buying, with options market data suggesting that institutional investors are not very bullish on the ETF market.</p> <cite>Greekslive on <a href="https://twitter.com/greekslive/status/1742495093872042340?s=46&amp;t=TMI07H21nqgKjjcESnhqEQ" target="_blank" rel="noopener">X</a></cite>
</blockquote> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The likelihood of the ETF's passage became less and less likely, and the market saw a stalemate. Weakness in crypto mining stocks, and the sell-off in several crypto-related U.S. stocks, also reinforced the market's skepticism.<br>ATM option IV plummeted to 52% for the week and… <a href="https://t.co/orjr1Wcwwf" target="_blank">pic.twitter.com/orjr1Wcwwf</a></p>— Greeks.live (@GreeksLive) <a href="https://twitter.com/GreeksLive/status/1742495093872042340?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> You might also like: <a href="https://crypto.news/polymarket-investors-confident-of-spot-bitcoin-etf-nod-by-jan-15/"> Polymarket investors confident of spot Bitcoin ETF nod by Jan. 15 </a> </p> 
<p>The report was released to a market gripped by speculation surrounding 14 spot Bitcoin ETF applications filed by TradFi giants like <a href="https://crypto.news/blackrock-designates-jpmorgan-jane-street-as-bitcoin-etf-authorized-participants/" target="_blank" rel="noreferrer noopener">BlackRock</a> and crypto-native entities like Hashdex. Such products have been historically rejected by the SEC, although recent developments indicated by multiple meetings and updated filings fueled optimism for a different outcome in 2024.&nbsp;</p> 
<p>However, some opinion leaders surmised that the SEC could delay spot Bitcoin ETFs beyond January. Indeed, Matrixport said the SEC may reject all bids for a fund that invests in Bitcoin at spot prices as crypto.news <a href="https://crypto.news/sec-will-reject-all-bitcoin-etfs-in-january-says-matrixport/" target="_blank" rel="noreferrer noopener">reported</a>.</p> 
<p>Legal experts said this outcome could result in litigation against the SEC due to a <a href="https://crypto.news/sec-may-refuse-grayscales-bitcoin-etf-despite-court-win/" target="_blank" rel="noreferrer noopener">court ruling</a> during the Grayscale case. </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">If the <a href="https://twitter.com/SEC?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@SEC</a> were to deny all spot <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> ETFs, the applicants would immediately sue and the D.C. Court of Appeals would again rule that the SEC was “arbitrary &amp; capricious.”<br><br>The SEC gave every reason they had for denying Grayscale—and lost.<br><br>I expect multiple approvals on Jan. 10.</p>— MetaLawMan (@MetaLawMan) <a href="https://twitter.com/MetaLawMan/status/1742532353535180988?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>A massive 7% drop followed the report from Matrixport in BTC’s price as the token dipped below $43,000 and triggered over half a billion in liquidations across crypto markets. These liquidations had occurred within only four hours at press time.&nbsp;</p> 
<p>While Matrixport expects Bitcoin to return toward $36,000, the company foresees a surge in BTC prices this month. Analysts at the crypto startup <a href="https://crypto.news/matrixport-expects-btc-to-surge-to-50k-in-january/" target="_blank" rel="noreferrer noopener">predicted</a> a surge to at least $50,000 before February and a new all-time high above $125,000 by the year’s close.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="660" src="https://crypto.news/app/uploads/2024/01/Screenshot-145-1024x660.png" alt="Bitcoin" class="wp-image-14234026">
 <figcaption class="wp-element-caption">
  Bitcoin’s price on Jan. 3 after Matrixport report | Source: CoinMarketCap
 </figcaption>
</figure> 
<p> Read more: <a href="https://crypto.news/bitcoin-could-reach-125000-by-end-of-2024-matrixport-forecasts/"> Bitcoin could reach $125,000 by end of 2024, Matrixport forecasts </a> </p>

Greekslive: Spot Bitcoin ETF approval unlikely until 2nd week of January

crypto.news

Other articles published on Jan 3, 2024

Bitcoin ETF issuers set fees as approval hopes rise

EBA to Extend Stress Testing to Assess Impact of Strains in Non-Bank Financial Institutions, Incl...

AI-Driven Professional Development Boosts Math Teacher Effectiveness

The Genesis Bitcoin Block: 15 Years of Decentralization

Elon Musk’s startup named XAI bags Binance listing

Major Turning Point in the Bitcoin Spot ETF Race: Goldman Sachs Allegedly Involved

Join our free newsletter for daily crypto updates!