Matrixport’s recent report on the likelihood of a U.S. SEC approval for a spot Bitcoin ETF has caused ripples in the cryptocurrency market. Jihan Wu, the founder of the crypto financial services firm, has stepped forward to address the bewildering contents of the report, which have been a source of intense debate among investors and market analysts.
Matrixport’s Questionable Claims Under Scrutiny
The report made several perplexing claims, the first being that Franklin Templeton’s ETF filing in September catalyzed the bull run. This statement overlooks that other major players like Invesco and Fidelity had already filed for ETFs, overshadowing Franklin Templeton’s influence. The report incorrectly marked September as the start of the bull run, ignoring the significant impact of a false Cointelegraph tweet and a subsequent gamma squeeze in October.
Furthermore, the report suggests that all ETF applications are missing a critical requirement, presumably alluding to the agreements
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