**Breaking News:** 📰 SEC plans to conduct an initial review of ETF applications submitted by the 29th, excluding those not updated. Notably, applicants are advised not to mention 'repayment in kind' in their applications, according to Fox Business reporter Eleanor Terrett. 📊📑 #ETFApplicationReview

According to SEC only 4 days left for the submission of propoal on #Bitcoin… #ETFApplicationReview what's your view on this? #ETFApproval2024 #Positive or #Negative
In my point of view if it's approved then we can see the whole market bullish for few weeks..but if its rejected market will bleed...
$BTC may get down between $32K or 36K...
So trade safe in these few days...
Market seems extremely volatile.... Bitcoin's movement is not so much happening...seems like it's waiting 29 December...
Stay good,trade safe..

Bitcoin ETF Dreams Crushed? Matrixport Predicts Rejection by SEC

Just as Bitcoin bulls were eyeing a brighter future with potential spot ETFs, Matrixport throws cold water on the party. Their prediction? The SEC will toss all current Bitcoin spot ETF proposals.

Why the Gloom?
Matrixport points the finger at the current SEC leadership, specifically Chair Gary Gensler, who they say isn't budging on his skepticism towards crypto:

Gensler wants tighter regulations before welcoming Bitcoin ETFs.
He might not even vote for approval at all.
So, Is This the End?

Not necessarily. It might be a setback, but the fight for Bitcoin ETFs isn't over. Here's the silver lining:

There could be more applications in the future, potentially with better regulatory alignment. ✨
This could put pressure on the SEC to address concerns and pave the way for future approvals.

What Should You Do?
Don't panic sell! Stay informed, keep an eye on regulatory developments, and remember:

While this news might sting, it's just one chapter in the ongoing story of Bitcoin's integration with traditional finance. Stay patient, stay informed, and who knows, maybe that dream ETF will still become a reality one day.#BTC #ETFApplicationReview