BlackRock is playing chess with crypto markets right now…

BlackRock is playing chess with crypto markets right now…

the SEC has to approve deny or delay vanx application for a spot ethereum ETF by May 23rd that’s the drop dead date so what’s going to happen the first deadline for the ethereum spot ETF is next week this is the vanak arc invest and hash Dex ETF applications experts are saying it will most likely get rejected let’s talk with Rick Adelman he’s the head of the digital asset Council of financial professionals former head of Adelman Financial engines the biggest raia in the country country at the time Rick May 23rd drop dead date approve deny or delay deny deny yeah there’s no question uh I I would be astonished if the SEC said yes at this point uh we’re we’re looking at traffic between the SEC and Vanek and typically as you approach a deadline if they’re intending to approve there’s a lot of email a lot of meetings back and forth as they hone in on the application get all the you know te’s and eyes the way they want them that’s not happening there’s relatively low level that’s so that’s the tell crickets from the SEC means bad news it just means they’re not ready yet they’re busy with other things they’re going to kick the can uh they have an opportunity to um delay this decision and they’re going to do it probably until the end of the year there is still hope later this year especially in August with Fidelity and black rock Black Rock has a 99% success rating with their ETF applications I see value in having an ethereum ETF these are just Stepping Stones towards tokenization and I I really do believe this is where we’re going to be going we have the technology to tokenize today you want to talk about issues around money laundry and all that this eliminates all corruption by having a tokenized system remember experts are also saying that the SEC has no choice but to approve an ethereum spot ETF for the exact same reason that the Bitcoin spot ETFs got approved basically we can see what’s going to happen 3 6 9 months from now now when the spot Bitcoin ETFs were denied by the SEC remember that that happened they were successfully sued on the grounds that they had approved Bitcoin Futures ETFs and the court said since they were similar products they had to approve the spot Bitcoin ETS but we already have approved ethereum Futures isn’t the same logic applicable here I I believe it is but it’s this isn’t going to cause the SEC to say no permanently they’re simply saying not yet which is frankly in the Bitcoin World perfectly fine the the spot Bitcoin ETFs are still so new there’s so much attention there so many firms are still racing to add these ETFs onto their platforms the ethereum ETFs quite frankly Bob were a little bit of a distraction so I think everybody’s kind of okay with the fact that there’s going to be a six-month delay before the ethereum ETFs come about now despite all of this many are calling for ethereum’s price to break down vitalic to spend time in jail ethereum to be classified as a security so ultimately the real issue boils down to whether ethereum is a security or is it a commodity now the cftc says it’s a commodity just like Bitcoin the crypto Community has been mounting legal challenges against the SEC so what is it is ethereum a commodity or security and where do you draw the line between this and all the other cryptocurrencies it’s a land grab as you pointed out the SEC wants to call it a security so they have jurisdiction over it but that’s a really difficult argument to justify it’s hard press to demonstrate that ethereum meets the so-called Howie test which is how the SEC determines whether you’re an investment contract exactly and there’s really hard justification to support that it is a commodity I believe I think most are in that camp it’s going to be under cftc regulation not SEC and that’s going to force the SEC to say yes just like they were forced to say yes to bitcoin the Bears are out in full force against ethereum do not be fooled we are witnessing one of the best opportunities for ethereum in this cycle in my opinion ethereum is not in play this cycle dude l2s are on fire the ethereum ecosystem sure has changed 82% of its activity now runs on layer twos like arbitrum optimism or Bas this trend will not stop anytime soon and it is a massive net plus for adoption and the value of ethereum ethereum number of users are booming black rock is launching real world assets on ethereum seated with $100 million I think this particular project that we’re doing with black Ro as well as the fund race is very significant because it’s going to be the largest tokenized Fund in history also the fastest growing as you said in less than two months became the largest one and also the fact that this issue by the largest asset manager that has also become a sh holder and and a board member of the company is a very important step in our journey ZK upgrades are coming for more scalability and privacy plus the eth ET St is inevitable Larry thinkink has done a masterful job ensuring the best entry for his clients into ethereum after the ETF approval this year clearly wanted to make up for Bitcoin pumping 2x before he could enter that the reason for the call today John is something just came across my desk John it is perhaps the best thing I’ve seen in the last 6 months if you have 60 seconds I’d like to share the idea do not be fooled we warned you about this last year in an interview with Lark Davis there will be a time especially when Bitcoin ETFs get proved that everybody will say it’s only Bitcoin baby nothing else Bitcoin maximalists will come crawling out of the woodwork everyone’s wrong ethereum is going to go to zero blah blah blah blah blah blah blah blah all the stuff we’ve heard before there are times and seasons for different assets and there will be a Bitcoin ETF and it’ll pump Bitcoin like crazy Bitcoin dominance will rally super hard all the money will chase after that and then ethereum ETFs will be approved spot ETFs not futures ETFs Futures ETFs are garbage spot ETFs are the real deal and then ethereum will be the new paradigm of money and then the market will start taking off more broadly but I just think that you have to look at the reality that ethereum will outperform Bitcoin on a total percentage basis so if you were to invest $10,000 in Bitcoin and $10,000 into ethereum the ethereum I believe will give you higher gains by the end of the cycle now how much higher gains it’s probably not going to be super significant it’s not like ethereum is going to 50x and bitcoin’s only going to 5x it’s more like Bitcoin will 5x and ethereum will 7x something like that so it we outperform but it’s not going to be super dramatic outperformance so that’s something I need to highlight here but there’s so many things working in the favor of ethereum outperformance bitcoin’s got the Bitcoin ETFs Bitcoin has the having all very exciting ethereum has ultrasound money massive deflation huge amounts of ethereum being locked up in the staking contract it’s like 28 million coins right now it’s an over twoyear wait to get out of the staking contract so that’s a massive Supply lock a demand Rising all the time for ethereum layer 2 networks which is sucking more eth off of exchanges ethereum exchange balances at a fiveyear low down well over 50% in the last couple years down to about 14 million coins there’s now twice as many coins in the staking contract locked up for like you know a long time time a long time to get out of the execute versus what’s on exchanges so ethereum’s got the moon math behind it without a doubt plus more use cases obviously than Bitcoin what’s interesting is that an ethereum ETF could even be more compelling for a lot of investors than a Bitcoin ETF because a Bitcoin ETF is like holding a gold ETF which is cool an ethereum ETF is like exactly it’s more like holding Apple stock or something like that because you get that dividend payment and massive exposure to massive Innovation right across crypto space if you’re bullish on layer twos if you’re bullish on nfts if you’re bullish on stable coin payments if you’re bullish on crypto gaming if you’re bullish on any of that stuff you buy an ethereum ETF because that’s going to you exposure to all of it plus the dividend yield do you want to know the real reason why these spot ethereum ETFs will get approved and ethereum and crypto will pump a lot higher well the former Speaker of the House Paul Ryan just made some interesting comments on stable coins on Bloomberg last Friday this is extremely important for a few reasons first of all he mentions stable coins unprompted in response to a question about how Congress can deal with the debt this is pretty interesting interesting the first thing he thinks of is stable coins second he’s repeating industry talking points verbatim which is pretty cool I’m pretty sure that Stables if considered a sovereign are the 16th largest buyer of treasuries third this is Paul Ryan former house speaker not some junior pro crypto representative the fact that someone of his stature is willing to openly say that stable coins are a potential solution to the debt is quite remarkable and represents a considerable tonal shift have you noticed that Elite policy makers have begun to make this transition towards recognizing the validity of stable coins and accepting that they will be part of the financial fabric of the nation hm I wonder who’s helping them with that listen to Paul Ryan speak on this this is absolutely amazing Paul Ryan is pushing for a stable coin bill that would increase tether and usdc to trillions of dollars Bitcoin ethereum treasury meet your new source of demand I guess the question is what could you do now knowing we have Deb problems in the future I think there’s a couple of things Congress could do they’re not but maybe they’ll get something done I think stable coin legislation would be a good step in the right direction um that could be helpful that could be done this year but I don’t see anything other than that on the horizon let’s talk about stable coin because I’ve heard you say that actually getting the legislation on that could help treasury auctions and when you said it I said what’s the connection there take us through take our audience through that connection yeah so staple coins would are digital digital U private sector uh dollar backed uh currencies it’s not crypto because it’s Tethered to the US dollar they have to have dollar backed assets they have to have treasuries or cash to back those stable coins there’s not a law that governs these right now so there aren’t really deployed but if you actually have a law which at McKenry and Cher Waters Maxi waters kenry are putting a deal together Schumer in talks with them I think there’s a there’s a reasonable chance they could get a deal on St coin legislation that means you have a legal framework to which to have stable coins deployed youd go from a couple hundred billion dollar of stable coins to you know maybe trillions right now stable coins are like the 16th largest buyer of of bonds bills and and notes among all sovereigns if you actually regulate stable coins have them deployed that does two things that gets the US dollar more deeply ingrained in the oncoming digitization of currencies that’s a good thing and you create new consumers demand for our bonds because they have to have those to back up the stable coins so more demand for treasuries more use of a digital dollar throughout the system to help better entrench the dollar it’s a win-win situation for America I think it’s a no-brainer I’m hopeful cautiously optimistic Congress might do that this year still there are good talks happening and that’s one thing you could do on the margin to try and you know improve demand for our bonds and improve dollar ethereum to $10,000 I think is still on the table make sure you subscribe to our Channel we update you on crypto on a daily basis if you’re interested in making money in crypto make sure you subscribe like the video support the channel my name is Aaron altcoin daily 2024 shaping up into a great year see you tomorrow

BlackRock is playing chess with crypto markets right now…
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Timestamp:
0:00 – Ethereum spot ETF – What’s gonna happen?
2:51 – Ethereum a security or commodity?
3:52 – Do NOT be Fooled
8:04 – The REAL reason Ethereum is PRIMED!
9:30 – Stablecoin regulation about to CHANGE!
11:26 – final thoughts & price prediction

**Note: My overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. Alts are interesting but a lot more speculative. I use them to accumulate more Bitcoin & Ethereum.

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