Prominent Bitcoin critic and gold proponent Peter Schiff warned that approval of a spot Bitcoin ETF in the US could crash the price of BTC if anticipated institutional demand does not materialize. Schiff said the promise of a US-listed spot BTC ETF has supported the price for years, so its approval could collapse the market. Data firm Matrixpoint predicts the SEC is unlikely to approve any spot BTC ETF applications before the January 10th deadline.
