Breaking news , smash the like button .
If you appreciate us coming at you on a Friday to clue you into this .
The SEC has officially delayed the 1.5 trillion asset manager , Franklin Templeton's spot Bitcoin ETF application .
This date was marked on our calendars .
You can see Franklin Bitcoin ETF .
You can see this date marked on our calendars here .
In addition , look at this global X's Spot Bitcoin ETF application delayed as well .
A comment period is beginning on this one .
They have 35 days taking us into late December for the SEC to review comments .
You can see that this one was marked on our calendars as well and actually the SEC ended up delaying it a few days early .
In addition , Bitcoin daily momentum is drying up .
Analyst crypto Rover says , I think we remain trade between $38,000 and $35,000 for the coming two months after the news hits the market that the ETF S get accepted .
We will enter the next range .
And that's the question .
And this is my question to you .
Do you think there's still a 90% chance that spot Bitcoin ETF S will get accepted by January 10th .
January 10th is the final deadline for ARC invests spot Bitcoin ETF .
Now the analysts have been saying for days and subscribe to our channel , we show you this kind of stuff .
They've been saying , ok , we're nearing in on deadline dates for three spot Bitcoin ETF applications .
I want to get ahead of it because there's a pretty good chance we'll see delay orders from the SEC .
This is what we saw .
This is what we saw .
What's the takeaway delays would not , will not change anything about our views .
90% chance spot Bitcoin ETF applications are accepted by January 10th , the big 1 1020 24 .
I see so many people being fooled .
I hope it's not you because I've been seeing many comments in our comment section on our videos saying that a spot Bitcoin ETF will do nothing for price .
This is Michael Sonnenschein , he him CEO at Greyscale Investments .
Greyscale is one of the big ones .
Waiting spot .
ETF approval is a Bitcoin spot ETF really the savior for price that we all think it is .
What if no new money enters ?
Isn't that a possibility ?
He really spells it out here .
Listen , I wish more people under stood this the premise behind the rise of Bitcoin is that ETF is going to be approved by the SEC and all of a sudden everybody's going to want to be in it .
There's gonna be a lot of buying Bitcoin that .
Why should we believe that new money will be attracted into Bitcoin once is approved as opposed to capital being reallocate within the Bitcoin Universe .
It's a great question , you know , today without having spot Bitcoin Etfs in the market , there are nearly $30 trillion of advised wealth in the US , just alone that needs access to crypto , that needs access to Bitcoin and by and large hasn't had access to it .
So the onset of Bitcoin ETF spot Bitcoin ETF really opened the door to financial advisors advised wealth really to have the opportunity to participate in Bitcoin in a way that they , they haven't had before .
And he was just speaking about the wealth markets .
What about the institutions ?
Surely institutions prefer ETFS too , right .
So you talked a little bit about the wealth market and the interest there .
What are you seeing from the institutional market ?
Are you seeing continued demand ?
Especially given what we just talked about with rates ?
I think that the introduction of the spot Bitcoin ETF will allow for institutions to participate as well .
What's been interesting about crypto as opposed other asset classes that came along before it , it was usually institutions who had access first and then it eventually trickled its way down to retail .
In the case of Crypt .
In the case of crypto , it went to retail first and institutions by and large haven't been able to participate and certainly having regulated instruments like ETF S will allow them to participate .
By the way , make sure you subscribe to our channel daily videos just like this , keeping you informed on the entire Cryptocurrency .
If you're interested in making money in Cryptocurrency , subscribe to our channel daily videos .
Now it's important to note and again , most people aren't talking about this .
We are Blackrock is continuing their application process to get that spot .
Ethereum ETF as well .
So one week ago , Blackrock registered its ishares Ethereum Trust with Delaware's division of corporations .
Today , we have a continuation .
Blackrock filed a form S one with us sec again for their spot Ethereum ETF in 2024 .
Do you think Bitcoin's ETF gets approved and Ethereum ETF gets approved or do you think one or the other or what are you thinking ?
This is how I see it , in my opinion .
This is a realistic scenario .
Now , the bullish scenario would be that it plays out just like Canada E ETF gets approved shortly after Bitcoin ETF is approved just like with Canada .
But this is my realistic scenario .
The SEC will most likely deny Blackrock's Ethereum ETF application and others keep reading like retweets .
So others understand this .
Think about it .
The Bitcoin spot ETF applications continue to get denied .
Why wouldn't es Gary Gensler wants to give Ethereum an even harder time than he's given Bitcoin even though Ethereum is a commodity .
Here's the bottom line .
If that happens , the ETF application denial that might be a good buying opportunity .
As just like with Bitcoin , the SEC will have to approve the E ETF .
Eventually , it might even play out where the Bitcoin ETF gets approved in 2024 .
But the SEC still continues to deny an Ethereum ETF for a bit .
Certainly exciting times .
What do you think will happen ?
Do you think a spot Ethereum ETF is inevitable or how do you think about it ?
If Blackrock's Spot Bitcoin ETF gets approved first , I could easily see something like this happening .
Blockchain boy , his analysis here .
I think this is a likely possibility if the Bitcoin Spot ETF gets approved first and we have to wait for the Ethereum ETF going forward into the next bull run .
I think that Bitcoin is going to lead the charge by a large wide majority because right now you have the spot ETF pending approval , Blackrock pretty much is gonna get that your odds for a Bitcoin Spot ETF to pass is 575 to 1 odds .
It's 99.9% chance of passing .
One thing I want to talk about with the spot .
ETF is the effect that this is going to have on the actual supply and demand of Bitcoin .
They're going to be removing a massive amount of the supply off of exchanges .
New Bitcoins being minted .
A spot ETF is going to be essentially like having 5 to 6 Hs at one time .
Sparking what could be the largest Bitcoin bull run by volume that we've ever seen .
And so that much volume could impact the price of Bitcoin in a way we've never seen .
Now , we did just get some breaking news .
I don't know .
Does this change your thesis fidelity ?
Like Blackrock is doubling down on crypto .
They just filed for an Ethereum .
ETF needless to say this is bullish for Ethereum .
Fidelity wants to create an Ethereum ETF joining Blackrock in doubling down on crypto .
Both Fidelity and Blackrock want to list both Bitcoin and Ethereum .
ETF S again , I remind you that spot ETF S in this case , holding Bitcoin and Ethereum , the biggest cryptocurrencies in the world , according to analysts , according to optimists will dramatically shake up the Cryptocurrency space in theory , will bring a flood of new investment money into digital assets , particularly with the market heft of famous firms like Fidelity and Blackrock .
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It's going to be a fantastic Thanksgiving and Christmas and we're really preparing for an epic 2024 .
See you guys tomorrow .