Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»The head of Better Markets is opposed to Bitcoin ETFs.
EXCHANGE NEWS

The head of Better Markets is opposed to Bitcoin ETFs.

By Crypto FlexsJanuary 8, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The head of Better Markets is opposed to Bitcoin ETFs.
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin is inching closer to $45,000. BTC was last traded at $44,104.29. This may be primarily due to speculation surrounding the SEC’s approval of Bitcoin ETF applications. Applications from the likes of BlackRock and Fidelity are expected to peak by January 10, 2024.

While the entire cryptocurrency industry waits for the long-awaited moment, one analyst has come forward and asked the commission not to approve the application.

Dennis Kelleher, CEO of Better Markets, a nonprofit venture firm, asked the SEC to reject all applications. Dennis justified this by saying that the SEC would indirectly approve any fraud and manipulation to protect its customers. He drafted an 11-page letter stating that it would cause enormous harm to inventors and their funds.

He was criticized for this remark. Bitcoin enthusiasts said a rejection would undermine all the hard work and energy the cryptocurrency industry has invested in getting ETF applications approved. It would also hurt SEC staff who invested in analyzing the applications.

Dennis isn’t the only one who says this. A few days ago, Matrixport released a report suggesting that the SEC may reject ETF applications. That’s because the application falls short of the requirements that must be met before the U.S. Securities and Exchange Commission can approve it. There’s no specific mention of a lack of requirements of any kind, but signals have been sent that a rejection could be on the horizon.

The effect triggered a crash in the cryptocurrency market. BTC fell below $42,000 and ETH fell below $2.3,000.

Leading analysts Matrix Port Report He said the application would eventually be approved. They said approval could occur by the second quarter of 2024.

Another reason why Matrixport rejected its application is because SEC Chairman Gensler has been opposing new cryptocurrency products for some time. Moreover, most of the committee members who vote to approve or deny are Democrats.

A Bitcoin ETF receiving SEC approval will pave the way for: XRP ETF. This is speculation awaiting official confirmation. Ripple supporters say that once the SEC approves the Bitcoin ETF application, it is only a matter of time before the community starts applying for the XRP ETF. Neither the management company nor the issuer is yet proactive on this aspect. So it still remains speculation.

If the application is rejected, the community will have to wait for the Bitcoin halving in Q2 and beyond. The latter reduces the token supply and increases the price.

The SEC did not respond to the claims from Better Markets founder Dennis Kelleher. In just 2-3 days, everyone will know what happens to their favorite token, BTC.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Tapzi Presale Gains Traction with DeepSnitch AI and Bitcoin Hyper

October 27, 2025

Humanity protocol price rises by 70% with launch of sustainable digital ID

October 24, 2025

Bank of England to introduce stablecoin regulations by 2026

October 21, 2025
Add A Comment

Comments are closed.

Recent Posts

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

US Bitcoin reports holdings of 3,865 BTC after recent acquisition

October 27, 2025

Swiss Bitcoin App Relai Acquires MiCA License In France

October 27, 2025

Tapzi Presale Gains Traction with DeepSnitch AI and Bitcoin Hyper

October 27, 2025

The first extension for Solana developers

October 27, 2025

River Public Sale – 48-Hour Dutch Auction Lowest Price Settlement, Claim And Refund Instantly After End

October 27, 2025

Jiuzi Holdings, Inc. Partners With SOLV Foundation On $2.8B TVL Bitcoin Initiative To Advance Crypto Treasury Strategy

October 27, 2025

Why Elon Musk’s SpaceX transferred $133 million in Bitcoin

October 27, 2025

Stablecoin payments reach $10 billion with mainstream adoption

October 26, 2025

Ethereum Rebounds from Bull Market Support: Can It Conquer the ‘Pocket of Gold’ Next?

October 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

US Bitcoin reports holdings of 3,865 BTC after recent acquisition

October 27, 2025
Most Popular

FTX Bankruptcy Foundation aims to begin repaying creditors by the end of 2024

March 31, 2024

Encryption Inheritance: Industrial Round Up -January 20125

February 21, 2025

Bonk (BONK) and Solana (SOL) are hoping for better days while Option2Trade (O2T) raises 500,000

February 7, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.