According to BlockBeats, cryptocurrency research firm 10x Research analyzed that the Depository Trust and Clearing Corporation (DTCC) recently announced that starting April 30, it will no longer provide any collateral value for any ETF or other investment vehicle that includes Bitcoin or other cryptocurrencies as underlying investments. The relevant assets will be considered 100% written down, which means that market makers will need to provide more margin.
10x Research pointed out that Bitcoin prices are creating lower highs and a new downtrend seems to be forming. In this context, the DTCC's statement may have a significant impact. 10x Research analyzed a "self-reinforcing Bitcoin mechanism" framework on April 4, believing that there is a risk that ETF fund inflows will reverse to some extent.
