Matrixport: The main reason the SEC may refuse to approve ETFs is due to the lack of a large-scale monitoring sharing agreement representing the global BTC trading market

Digital asset financial services company Matrixport stated in a customer-exclusive research report on January 3rd that there is an opportunity to insure the portfolio by 1.6% through put options within the next ten days. We had predicted a strong rebound in the fourth quarter. By mid-December, we issued a warning about price consolidation. Initially, we expected this year to start off strong and were still bullish on Bitcoin on January 2nd; but the next day, one of our trading models turned bearish on BTC for the first time since August. With stock market weakness, we changed direction and anticipated that stock market fatigue would also affect BTC. As we pointed out in recent weeks, due to high funding rates over many years and highly elevated open contracts, there is an increased possibility of profit-taking and excessive expansion of BTC positions. We believe that SEC may refuse to approve ETFs mainly because of lack of large-scale monitoring sharing agreements representing global BTC trading markets.