Cryptocurrency analyst Nate Geraci has revealed that a rejection of a Bitcoin Spot Exchange-Traded Fund (ETF) by the SEC could lead to a significantly negative effect on the entire cryptocurrency market.
Bitcoin Spot ETF Denial To Impact The Crypto Space
Nate Geraci took to his official X (formerly Twitter) handle to share his optimism on the impact of a Bitcoin Spot ETF if rejected. The analyst’s recent prediction came amidst the recent bearish sentiment encompassing the crypto asset and market.
According to him, if the United States Securities and Exchange Commission (SEC) denies a Bitcoin Spot ETF, it could lead to a major rug pull in cryptocurrency. He asserted that if an ETF is not approved in January, the rug pull will be one of the “bigger rug pulls” in crypto history.
This is due to the significant impact that the anticipation of an ETF approval has had on the entire crypto market lately. The impending decision, which is anticipated to take place next month, may also ma
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