BlackRock Buying $2 Billion Ahead of Bitcoin ETF Launch

VanEck Digital Assets Research Manager Matthew Sigel stated in his statement that he heard rumors that BlackRock was keeping $2 billion aside as support in case of approval of Bitcoin Spot ETFs.

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00:00 Intro
00:17 Sponsor: Tangem
00:50 BlackRock to buy $2B of BTC
03:41 Can Wall Street control the BTC ETF?
05:16 VanEck pledge
05:56 Only a matter of time
07:09 Kevin O’Leary Shills
09:29 2024 Narratives after BTC ETF
10:44 US Services Growth Slows
12:37 Outro

#Bitcoin #Crypto #ethereum
~BlackRock Buying $2 Billion Ahead of Bitcoin ETF Launch~
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Bitcoin ETF news continue rolling in today we’re going to be talking about Black Rock actually putting their money where their mouth is you guys don’t want to miss it my name is Paul Baron welcome back in the tech path before we get started I want to thank our sponsor and

That is tangum go over and visit their website website click on that get tangum and it’s going to take you to this page right here this gets you into the three card set fully available uh that’s the one that you want because it’s going to

Give you that a little bit of an extra value in terms of a backup so check it out use our link down below it does help the Channel all right so a couple of things I want to hit on here today basically article talking about the 10

Million uh Bitcoin Pur buy uh by black rock that would be pushed into the fund today on January 5th and that there would be another another 200 million coming into the market once the fund gets approved so that that does show a lot of commitment I think in in these

Markets but more importantly I think what this might show is that they’re starting to double down on this so much so that breaking news today is this right here Black Rock actually has two billion lined up for this ETF so I mean this is pretty significant and this came

In from Matthew seagull who been on he’s been on our show from vanc uh talking about the potential futures here uh kind of outpacing a little bit what’s been happening in the market this came from of course on a Twitter space over from with Eric balunis and Ellen terret don’t

Know if that’s fully uh accurate but the fact that they’re making these statements right now these are the best analysts out there when it comes to ETF so I do trust most of these guys on where this is going ellan terret also hit on a tweet here talking about the

Bitcoin spots uh some filings that will most likely get amended this is coming on the 11th Hour uh these are around phone calls concerning certain comments ments on the s1’s possible launch dates what does this mean what this tells me is that if they were going to deny this

These kinds of antics right here wouldn’t be happening this is trying to groom the content and the filings to the perfect letter of the law for the SEC to get this done and I think this is only showing more additional uh faith that this is coming and remember it’s January

5th January 8th is our day that’s the one we feel like it’s going to happen the the 10th of course is the deadline so all that’s still in line here’s gasparino talking about guidance on the SEC decision on bitcoin is that it’s coming hopefully next week hopefully next week is an interesting statement

Here because that is a little bit more loose than what I would have expected here this is according to one issue keep in mind that this may be significantly different timetables for decisions on applications based on when they were filed so what he’s talking about there is that some may not necessarily get

Approved next week because of their timing and I would agree with that but I think the majors are are really uh set in Stone and pretty much as scar muchi was saying on Twitter the other day that this is done imminent decision sends Bitcoin Market into a frenzy we’ve already seen

Movement on bitcoin uh dramatically and of course here’s the final deadline dates right there 21 shares the 10th Black Rock technically has the 15th of uh march on their deadline uh bitwise coming in on there but you can kind of see if they approve the likelihood is

All of these that fall into the s filings being accurate getting approved at the same time that 21 shares I don’t think that 21 shares would be the one that only gets the approval based on its deadline going forward so still a big one for sure can Wall Street tame the

Bitcoin Beast as etf’s near approval uh I think the key here with some of this and I want to get into the article itself is this is Anthony pompono talking about the outsized gains that came along with strong moves uh to the downside and and what he’s kind of

Talking about here is do we see an interesting pump and then a retrace I am more on the boat of that Bitcoin becomes a bit more stable over the coming months and years and much less volatile in these ETFs uh especially around the side of it again it all depends on how much

Of the non- crypto Market comes into the space because remember this is going to be the gateway drug for a lot of people getting into crypto for the first time they’re not going to necessarily go to to coinbase but at the same time I still believe that this demographic shift that

Has occurred here in the well really worldwide is that the Gen Z Millennials and even gen Alpha to a certain extent they’re the ones that are really going to drive this and I don’t think they’re going to buy spot I think they’re or spot ETFs I think they’re going to be

Going into these markets uh and going direct exposure so couple other things here he talked about um speculating that us Securities Exchange could come as soon as January 5th or as late as January 9th yeah of course I think everybody’s there tether also had some minting activity which is an imminent

ETF approval which I’m kind of on that fence with tether because they have done this before there has been some history here that I would agree with uh to a certain extent uh that that is definitely happening vanc here on a couple of tweets and I’ll get into some

Tweets here and I’ve got a couple clips of uh Kevin o you guys are going to love this so stick around for this one but we’re not Bitcoin tourists at vanac we’re in for the Long Haul that’s why we made an additional 10K donation and signed a pledge to donate 5% of our

Bitcoin ETF profits and approved to support Bitcoin core devs I think that’s good uh and I I like the fact that you know mainstream Wall Street is really starting to commit and that’s the difference I think this cycle than what it has been in the past I mean institutional adoption has always been

Kind of at the Forefront but I think really now they’re actually starting to walk the walk all right one more tweet here from Ryan cus over coming over from Masari and a thing that people are missing about the ETF is that it’s cross the Rubicon moment which simply means

That crypto is going to have a long awaited wedge into mainstream Global finance and this something we talk about quite a bit that won’t happen though unless Mass crypto adoption is inevitable uh with this step and so it’s just a question of time Horizon back to

My point is that there are there’s I think there’s a bit of a divided front in the finance markets right now and many people would say well the Boomers that’s where all the liquidity is I would argue that I think the liquidity is equal not equal to the penny but

Definitely has a good challenge from Millennials and what the Gen Z have as a potential access to liquidity into these markets in terms of adoption so I think it’s going to be a bit of a struggle but the advantage is is that the Boomers who maybe don’t have exposure this will be

Their first step into trying it much like you know Facebook and social media it was their first step into trying it and then they just got better at using the the platform I think that will happen and they’ll start to explore other you know other crypto uh projects

Out there I want to jump over to a couple of Clips here let’s go to this first one this is Kevin o talking about that the SEC might jet Us in this idea listen in 10th is the big date when the SEC and gansler are going to decide if

They’re going to issue that license for an ETF but I want to warn everybody of something here um I’m in the camp that says he won’t do it he’s got a mandate that’ll be for another 18 months in other words if you’re an institution and you’re going to park a billion dollars

Somewhere you got to have a compliant exchange and that’s not coinbase because they’re being sued by guinsler too and remember everybody and this is crucial to the long-term prognosis of Bitcoin and crypto only 38% of it is held in North America the rest is all around the

World so the big question is where are the billions going to go that used to be on binance and the answer is what occurred last month in Abu Dhabi the launch of the M2 exchange backed by Sovereign wealth the largest of its kind in terms of financial backing not yet

Tied to Behemoth institutions that’s very good news all right so that’s uh that’s Kevin olary and I would say this that um O is a good name because you have to be lry of o and here’s the reason why listen to this next clip I’m at the launch of M2 now

What is M2 where is the new home of Bitcoin and every other digital currency that’s right it’s M2 M2 I came here because I’m so interested in this and the guys here get it I am going to invest in this exchange 100% all right so I mean this gets a little

Bit sketch is the best word for it in the sense of saying it one way that this isn’t going to happen you know these exchanges aren’t ready coinbase is being sued by the SEC and oh by the way I’ve got a you know I’ve got an exchange over

Here I can pedal you uh and um I’m investing in it as well so I this is where these interests get into a problem I think in crypto so remember you got to do the research dive in a little deeper don’t go with the The Narrative on top

Anyway couple other things that are happening right there and that is the uh the Bitcoin having this will be one of the other narratives that is going to start to paint out here within 2024 and I want you to think about narratives because narratives have been the core of

Where one the market moves and two the future starts to happen and what I mean by that is whether or not you believe in the having or not the point is is that there’s a lot of crypto ogs and crypto native that do think this is a still a

Potential impact on the market now myself I’m feeling a little bit more in the sense that it’s going to have a less of an impact if in fact we get an ETF approval and we get continued uh Impressions on potential other ETFs that could hit the market as well and that

Includes eth eth will be the other one that I think is also going to be a big Nar bigger narrative uh going forward especially around ETFs so uh what does that mean that means that we are going to continue to see a lot of altcoin movement in the year

Ahead obviously the macro will still have major pressure and it doesn’t mean this is a slam dunk still yet on the eth ETFs or the Bitcoin ETFs we’re still dealing with the SEC so you have to take those things into consideration all right so I’m going to go out here with

This last little piece here on the macro impact in the markets this is coming in from uh gr dector and uh if you don’t follow Genevie uh check her out because they do a great job uh on her Twitter account here I want to look at a couple

Of things here us Services growth slows and nears contraction so services in general these are jobs this is one of the sectors that I follow heavily job growth in that is most likely going to slow with a critical component around consumer spending if we do get in fact

Slowing consumer spending this is one of those things that could continue to cause a little bit more pressure which is remember a potential for the FED to come in and actually do the pivot that is required because if we don’t see pressure on the remember now S&P has

Started to Trail off yes that is Maybe started to adjust is that leading into these alternative assets or are we in a potential doorstep entry into a market that might be taking on an actual recession and if that does occur in the next 60 to 90 days that is the big

Catalyst that could start the reversal and pivot of the FED fund rate and that myself is is what I’m looking for because this could be a big indicator in how we see the market explode so timing really interesting here it’s kind of like following a timeline or a rollout

Of a project you look at ETF what’s going to come right after that obviously The Happening then you’ve got situations potentially brewing with eth but you have all this macro pressure coming in as well so man this is just a very interesting time uh in terms of the deviation

Critical to watch right now the services sector uh for it accounts for 75% of the US economy and I would agree with her and this research is that this is one that is going to be critical to keep an eye on going forward if you guys are not

Part of the diamond circle make sure and jump in right now it’s a great place to get additional content and more podcast if you’re not following me on X do that right now it’s just at Paul Baron we’ll catch you next time right here on Tech paath