Will be easier to get an Ethereum ETF approved now: Ava Labs president

John Wu, president of Ava Labs, joins BNN Bloomberg to discuss why he’s still bullish on Bitcoin, even as it falls below US$40,000 today.

Subscribe to BNN Bloomberg to watch more videos: https://www.youtube.com/BNNBloomberg

Connect with BNN Bloomberg:
For the latest news visit: https://www.bnnbloomberg.ca
For a full video offering visit BNN Bloomberg: https://www.bnnbloomberg.ca/video
BNN Bloomberg on Facebook: https://www.facebook.com/BNNBloomberg
BNN Bloomberg on Twitter: https://twitter.com/bnnbloomberg
BNN Bloomberg on Instagram: https://www.instagram.com/bnnbloomberg
BNN Bloomberg on LinkedIn: https://www.linkedin.com/company/bnn-bloomberg
—
BNN Bloomberg is Canada’s only TV service devoted exclusively to business, finance and the markets.

IT THOSE IN THE CRYPTO COMMUNITY THAT ARE USING IT AS A SOUTH, A NEWS EVENT. LET’S BRING IN JON WITH PRESIDENT ABOUT THE LABS. FOR SOME PERSPECTIVE. I’M I DON’T KNOW IF YOU HEARD ERIC, BUT HE KIND OF ALLUDED TO THE CALL IS

COMING FROM INSIDE THE HOUSE THAT MAYBE THOSE IN THE CRYPTO COMMUNITY ARE THE ONES USING IT AS AN EXCUSE TO SOUTH WILL BECAUSE YOU’RE SO PLUGGED INTO THAT COMMUNITY. WHAT WHAT HAS BEEN THE CHATTER NOW THAT WE ARE? >> A LITTLE BIT REMOVED FROM

THE MOMENTOUS EVENT. >> WELL, HE’S RIGHT. THERE WAS DEFINITELY SOME SELL THE NEWS I DON’T KNOW. HE SAID EARLIER BECAUSE I JUST TO DONE, BUT YOU KNOW, THE FTX BANKRUPTCY ESTATE SALES AND THOSE ARE BEEN HAPPENING AT THE SAME

TIME. YOU MOUNT GAS PTC THAT WAS DISTRIBUTE RECENTLY KISSES FROM 2014 BEEN DISTRIBUTED JUST NOW. SO PEOPLE WILL CHAIN DATA. THEY SEEM LIKE ROUGHLY CLOSE TO 2 BILLION DOLLARS AND NET SELLING TO OVER RIDE SOME OF THE INCREASE IN DEMAND. BUT

I THINK ANYONE FOCUS JUST ON THE SHORT TERM IS REALLY ON MISSING THE MEDIUM AND LONGER TERM TRENDS. AND THE REALITY IS THERE’S FUNDAMENTAL THINGS HAPPENING, OPERATE MOMENTUM IS HAPPENING IN THE STATES HAVING IS COMING. AND FRANKLY, YOU KNOW, LARRY FK IS, ARE

TALKING ABOUT IAN? I E ETS POTTER READY. SO AND OTHER ASSETS WILL ALSO BEFORE THEY EVEN HAVE REALLY MARKETED THE DESPITE ETF. SO A LOT OF DEMAND WILL COME. IT’S GOING TO HAPPEN OVER TIME I CAN’T WAIT FOR THAT. AND FROM OUR

PERSPECTIVE, IS AN OPERATOR. WE’RE DEFINITELY SEE MORE OPERATE MOMENTUM. WE’RE PARTNERS WANTING TO CREATE FUNCTION ON TOP OF THE BLOCK CHAIN STACKED. SO YOU MENTIONED THAT HAVING AND I FEEL LIKE FOR PEOPLE WHO ARE NOT NATIVE TO CRYPTO ARE STILL

NEW TO IT. DON’T UNDERSTAND. >> THAT EVENT, IT’S BASICALLY IF YOU’RE A MINOR, THE AMOUNT OF BITCOIN REWARD, YOU GET GETS CUT IN HALF AND THAT’S A FUNCTION OF HOW OF HOW BITCOIN OPERATES IN ORDER TO LIMIT SUPPLY RIGHT ULTIMATELY TO

21 MILLION. WHY IS THAT A BULLISH EVENT? >> SO EFFECTIVELY AND MAKES IT HARDER TO GET A REWARD. SO IT DISINCENTIVIZE IS MINORS TO CREATE NEW SUPPLY. SO THERE WILL BE MORE OF A SUPPLY DEMAND IMBALANCE IT COME APRIL OR MAY, WHEN THERE’S MORE

MARKETING AND ADVERTISING, MORE DISTRIBUTION FOR THE CTS, THAT’S GOING TO BE ON THE DEMAND SIDE PRESSURE TO BOOST THINGS. BUT ON THE SUPPLY SIDE TOWARDS ASSOCIATE WITH IT WON’T AS A MINOR. YOU HAVE LESS INCENTIVE TO CREATE BITCOIN OR MINE BITCOIN, IF

YOU WILL. AND WE’VE GOT TO THE POINT COSTS FOR MINING IS A SCALE GAME. SOME PEOPLE HAVE SAID YOU NEED ABOUT 50,000 B T C PRICE IN ORDER TO BREAK EVEN. I THINK THIS GOING DOWN, MEANING TTC GOING DOWN. BEASLEY ALSO AFFECTS THE

MINERS. SO THEREFORE, PROBABLY, YOU KNOW, MAY EVEN THAT HAD TO SELL SOME CREATING SHORT-TERM HOME SUPPLY TO THE MARKET, IF YOU I WOULD TALK ABOUT WHAT YOU SAID YOU FLOATING THE IDEA OF ANYTHING ETF >> IT’S, IT IS KIND OF A

DIFFERENT BEAST, IN TERMS OF THE PATH. DO YOU EXPECT THAT IT WOULD BE THAT YOU CAN JUST KIND OF COPY AND PASTE THE BLUEPRINT TO GET BITCOIN ETF OR OR WILL THE EACH ETF APPROVAL BE A LITTLE BIT CLUNK HERE BECAUSE I MEAN, IT’S A

TOTALLY DIFFERENT PROTOCOL. >> WELL, I THINK YOU’LL I WOULD SAY IT’S CLUNK HERE BECAUSE THE TTC ETF HAS A PRETTY CALM YEARS IN THE MONTH. SO FROM THAT PERSPECTIVE, TAKE A HOLISTIC POSSIBLE E SPOT SIDE OF SPINE ETF. THAT’S LIKE A TONGUE

TWISTER THERE, BY THE WILL PROBABLY BE EASIER. AND KEEP IN MIND, THE CHAMPIONS FOR IS PEOPLE LIKE BLACKROCK AND FIDELITY. WE SEE NEW LEADERSHIP. A NEW ENDORSEMENT, WELL-KNOWN FIGURES AND TRADITIONAL FINANCE. I THINK THAT WILL MAKE IT ACTUALLY

EASIER THAT BIG POINT HAD TO DO IT. >> WHAT DID THIS DO IN TERMS YOU KNOW, GENERATE INTEREST. FROM THE FUNDRAISING COMMUNITY? I MEAN, A LOT OF PROJECTS AS MUCH AS THEY SHINE TRADITIONAL FINANCE TOO OFTEN RELY ON THIS STUFF AND SOME OF

THEIR GROWTH AMBITIONS THAT THEY DON’T HAVE A TOKEN OR THEY’RE NOT YET AT THE THAT LEVEL. CAN YOU SPEAK TO WHERE THAT COMMUNITY IS IN FUNDING SOME OF THESE VENTURES SUCH AS YOURSELVES? >> TRADITIONAL BC’S CROSSED OVER UNFUNDED DURING THE BULL

MARKET OF 2020 2021, IF YOU WILL. I STEPPED ASIDE THE CRITIC DON’T THE SEAS WERE ALWAYS IN THERE AND ARE STILL THERE. I THINK GET THE CROSSOVER BC’S BACK IN, IT WILL TAKE SOME TIME. AS THEY SEE THE DEMAND COME THROUGH AS

THEY SEE THE NEW LEADERSHIP IN THE NEW ENDORSEMENTS FROM PEOPLE THAT THEY ARE VERY FAMILIAR WITH. YOU ARE GOING TO MORE ACTIVITY FROM THE VENTURE COMMUNITY. MORE IMPORTANTLY, THEIR PORTFOLIO COMPANIES IN PORTFOLIO, THE IN THEIR VENTURE FUNDS ARE ACTUALLY COMING TO PLACES LIKE

ALL THE LIVES AND TRYING ASK US TO HELP THEM USE THE WATCHING. THE AVALANCHE WATCH TO BE PART OF THEIR TECHNOLOGY STACK TO CREATE BUSINESS USE CASES, WHETHER BE IT GAINING COMPANY OR BRAND WANTING TO DO WHAT THEY CALL 5 DIGITAL. SO

SHE A DIGITAL ASPECT TO A PHYSICAL GOOD OR TRADITIONAL FI