Matrixport, SEC’s few spots bitcoin ETFconfirming one after another, indicating that it could trigger the next bull run.
Institutions bitcoin ‘, the US’s moves in the field of economy and the turbulent situations in the crypto money sector occupy the agenda. Crypto, which has experienced bankruptcies and collapses, has spent a lot of time on recovery and restructuring throughout 2023. Institutions have also recently turned to crypto, and especially Interested in Bitcoin.
Spot Bitcoin ETF applications, which started with BlackRock and continued by many institutions, raised expectations. Matrixport thinks that a new bull run may be experienced with the approval of ETF applications one after another.
“Consecutive approval of several spot Bitcoin ETFs could trigger bulls”
Matrixport, a US-focused crypto service provider, of the SECHe stated that he could start the rally with the possible approval of several spot Bitcoin ETFs.
Matrixport touched on spot Bitcoin ETFs in its report released Thursday. Matrixport discussed that as a possible scenario, the SEC might back-to-back approve spot Bitcoin ETFs. referring to this situation Matrixportannounced that the next bull run is in the hands of the SEC.
Research manager Markus Thielen said ETF providers will incur a large marketing spend to attract retail and institutional capital. According to Thielen, the process started and the money spent will be a signal for the bull.
Matrixport is owned by the Grayscale Bitcoin Trust ( GBTC) in the period when it is heavily preferred, $43.5 billion announced that he was managing assets. During this period, the Company also earned an annual management fee of $870 million.
To remind you, SEC will respond to Grayscale’s GBTC lawsuit filing and re-filing of the ARK 21Shares Bitcoin ETF next week. On the other hand, the regulator is expected to respond to seven other bitcoin ETF applications in the first week of September.
