The SEC is holding meetings today with major exchanges, including the New York Stock Exchange, Nasdaq, and the Chicago Board Options Exchange (CBOE), regarding spot Bitcoin ETFs. 

The information was revealed by a Fox Business journalist earlier today, bringing some sense of relief for the wider crypto community after crypto services firm Matrixport reported that the SEC would likely reject all ETF applications in January. This report triggered a major liquidation in today’s market, as the crypto market lost more than $540 million in just four hours. 

Despite Matrixport’s report of a possible denial, Bloomberg’s analysts have claimed that no substantial evidence pointing towards a rejection of the ETFs has been reported. 

There was a brief debate on X between Bloomberg analyst Eric Balchunas and Matrixport’s Markus Thielen, who published the potential ‘rejection’ report. Thielen clarified that the report wasn’t based on any comments from SEC insiders or the ETF applications. However, he cited consensus among researchers to reach this prediction and has turned bearish on Bitcoin.

However, today’s meeting suggests a more optimistic outlook, aligning with broader market expectations of a possible approval by the SEC, potentially as soon as the following week. Jan. 10th has been identified as a critical date, marking a deadline for the numerous spot Bitcoin ETF applicants.