Matrixport Founder Jihan Wu Speaks About Bitcoin ETF Report

Crypto News – Market tremors have been felt in the cryptocurrency space following Matrixport’s latest report on the possibility of U.S. SEC approval for a spot Bitcoin ETF.

Matrixport Founder Jihan Wu Speaks About Bitcoin ETF Report

In response to the confusing contents of the report that have sparked a lot of discussion among investors and market analysts, Jihan Wu, the creator of the cryptocurrency financial services company, has come out.

Franklin Templeton‘s September ETF filing is credited with starting the bull run, according to one of the report’s many puzzling assertions. It is overlooked in this assertion that the effect of Franklin Templeton was overshadowed by other significant players, such as Fidelity and Invesco, who had previously applied for ETFs.

Other Allegations in the Report

Furthermore, the report implies—possibly referencing the agreements with Coinbase, which controls just 11% of the spot market—that a crucial criterion is absent from all ETF applications. That ignores a significant decision made by the DC Circuit Court of Appeals, which said that since futures markets are so close to spot prices, monitoring of them is sufficient.

The third assertion examined is that, should staff recommendations be favorable, SEC commissioners would nonetheless reject the ETFs. Notwithstanding the significant changes in the market and the seriousness of the present issuers, Matrixport‘s analysis casts doubt on the possibility of approval after ten years of rejections.