SEC Spot Bitcoin ETF Approval Unlikely This Month Despite Recent Price Run-Up
• Matrixport expects SEC to reject all spot bitcoin ETF applications this month • SEC Chair Gensler and Democrat commissioners are not embracing crypto and unlikely to approve • Gensler sees crypto industry as still needing more compliance • Political reasons to not approve spot BTC ETF that would legitimize bitcoin • Recent bitcoin price run-up partly fueled by ETF approval expectations