As Matrixport analyst Markus Thielen }put it, the Securities and Exchange Commission (SEC) may reject all of the current bitcoin spot ETF proposals expected in January. Contradicting a widespread outlook and the {{efforts marked by a series of meetings and updated S-1 templates filed between applicants and the commission}} as of […]late, the reviewed applications pour designed would still be short of compliance with key parameters mandated by the specialist Gary Gensler. Players such as BlackRock, Fidelity, Franklin Templeton, Valkyrie and VanEck are among the 14 asset managers pursuing this end, yet Thielen is convinced, a rejection of the solutions at hand will initiates a cascade of liquidations entailing billions of dollars vulnerable to unwind within perpetual’s long position in Bitcoin in the markets, as a result, BTC’s value might decrease at 20%, bringing it back to around the $$36,000 to $38,000 range, opposed to its present index price at $44,522 he markup.
