On Wednesday, January 24, SEC Assistant Secretary Sherry Haywood announced the commission’s decision to postpone BlackRock’s Ethereum ETF application deadline. A 45-day timeframe has extended BlackRock’s Ethereum ETF deadline. The newly-scheduled date is March 10, 2024, by which the commission will either approve, reject, or institute additional proceedings to assess the proposal.
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00:00 Intro
00:18 Sponsor: iTrust Capital
00:44 Ethereum ETF delayed
05:41 Bitcoin ETF update
07:03 Bitcoin to $30k?
09:44 Macro update
12:04 Patrick Mchenry
14:26 Myths of crypto trading/investing
15:23 Outro
#Crypto #Ethereum #Bitcoin
~Ethereum ETF Delayed… Again🚫Bitcoin ETF Update~
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Let's get into a little bit of the Future of ethereum and whether an ETF is In the cards we'll break it down for you Guys give you some insights there uh you Don't want to miss this my name is Paul Baron welcome back in Tech paath all Right let's get started I want to thank Our sponsor it trust Capital looking at Long-term holding on crypto Assets in an IRA this is the place to do it make sure And check our link down below you'll be Able to get a $100 funding reward if you Decide to go in that direction of course If you're into getting your taxes in Order or maybe planning uh for 20204 Then crypto Ira is the way to go check It out it does help the channel out all Right I want to get into a few points Here on ethereum and whether or not this EF will occur around that may time zone Because this has been kind of the date That's been thrown around all right so I'm going to go to this first article SEC delaying Black Rock Spot ET ETF Couple of points I want to hit on here In the article commission finds it Appropriate uh to delegate a longer Period within which to take action on The proposed rule change so that has Sufficient time to consider the proposed Rule change and the issues raised this Of course is looking at this first Potential around March and then the SEC Also delayed decisions on every spot
Bitcoin ETF application before approval Including Black Rock so this is a kind Of a a theme of the SEC going forward Gendler also implied shortly after the Approval was seemingly pushed to approve The spot Bitcoin ETF now remember that You know the challenge that the Commissioners have had is that they Could have approved this at any time and And overall it it probably would have Helped the markets but instead it's kind Of put the markets a little bit uh Unstable obviously for Bitcoin hovering Around 40K that's some of it now James Saer was talking about other ETFs out There this of course is the eth ETF with With um Fidelity also delayed but he Expected this and this is something he And I have talked about is that really The date that matters most is the one in Late May that has a very unique timing Here obviously with the happening and Maybe even a ray cut so there's some Interesting things happening here over The next few months could eth have Perfect timing on this and you know We'll see because if we do get a uh an Eth ETF at that period of time I think It could really be in a very position Coinbase institutional exec says that Crypto can go mainstream now of course With the spot Bitcoin ETF uh live and There's you know there's quite a few Things that he kind of hits on but of
Course if you look at just one of them And that is the cumulative volume of What we've seen already in a very short Period of time three weeks out and now We have black rock kind of claiming uh a Big huge win in terms of their continued Acquisition when I say they assets under Management in Bitcoin but continued Acquisition of ETF of U Bitcoin in a Spot ETFs so pretty big deal that we Continue to see this kind of movement Couple of points I want to hit on in This article right here I'll go in the Highlights over here on the sidebar Couple of points I want to hit on There's a few experts out there Predicting whether or not a spot EF uh For ethereum will get approved and some People are anticipating this to be Somewhere around a 75% likelihood let me Kind of zoom in on that just a little Bit for you guys so you can kind of see It a little bit better right there uh And then further into to it uh this was The analyst saying that SEC were to deny The current application for uh ETFs in May then there would be an in inevitable Appeal so may is really kind of the date To uh to watch uh for sure and another One I want to kind of hit on right here He reckons that the SEC will off for the Path of lease resistance especially After what we've seen within the gbdc Case and what we saw as a result of it
Meaning An approved uh ETF uh they also Talked a little bit further into here it Says um Hey listen I would just say that There are two very clear bare and bull Cases for eth uh both on the approval Odds we believe the odds of approval are Over 50 but not nearly as confident as We were about the Bitcoin ETFs so that Was an interesting statement that yes It's still a very I would say still a Bare a bull case but the point being is That uh they kind of referenced like a 75% possibility here I don't know why They think that would be the case but Yet at the same time they're about half And half interesting stuff out there uh Further into the article he hits on a Couple other things says all the Ingredients are there for including our Existence of a large robust regulated Futures Market this I think is the Bigger factor for eth I think there's a Huge opportunity here because one Everybody loves earnings and ethereum Has earnings so to speak when you think Gas fees and I think that would make for A much more interesting ETF for sure uh Eth is more complex than Bitcoin however Ever also timing is uncertain on this so I think also this is going to be bearing Down on to whether or not we have a Macro condition changing here in the US Further into this it's been a caught and Narrative squeeze between excitement
Around Bitcoin and this really kind of This Rebirth of what's happening with Salana salana has had a huge rebirth and It it being the number one chain that Really kind of competes with theum I Guess if you had one uh in terms of Comparison there so last in the article Was in our opinion the St approval of The E ETF in May it would need to Classify ethereum as a commodity which They've kind of done similar to bitcoin Rather than security so that I think is Still on the positive side going forward Uh watch your Guru was in saying listen Here's uh here's a new Kingpin here and That is black rock now holding 455,000 Almost 46,000 Bitcoin worth over 1.8 Billion uh for their spot Bitcoin ETF That's pretty significant considering They started kind of from zero so a big Ramp up here James saer Goes On says I Don't know who needs to hear this but ETFs aren't the market themselves and Then yes they're now a Big Slice of the Pie but there's also a lot more to the Pie and Bitcoin ETF inflows can coincide With falling Bitcoin prices and uh one Thing when you look at outflows can also Coincide with Rising prices it's pretty Easy I think most people will say yeah People might be when Bitcoin is falling People are buying so you're seeing going Into an ETF because this is longer hold Plays and when the market is ripping the
Likelihood is they're taking profits Meaning outflows so that's kind of the Situation the difference is is gbc's Outflows because that's I think more of The interesting uh Point here is how Long before we see some stabilization For gbdc uh on That moving on here into where is Bitcoin going what are the micro uh Pressures on it how will this have an Effect on eth overall this is of course Arthur Hayes talking about he's always In the news about this for interesting Stuff but he's saying it could go down To as low as 30k uh I'd be interested in Hearing you guys uh on whether or not You think this is a possibility of Getting a 30k uh Bitcoin love to know Drop some comments down below and smash The like button it does help us in terms Of exploration and people learning about Blockchain and what's happening in Crypto in general but he explains on Several geopolitical uh factors may Impact the future of crypto further in The article here Hayes argues that the Market has misinterpreted the actions of Speeches of Yellen this of course was Back to the doish statements that we saw Both from Yellen and also Powell leading To a lot of this optimism in the early Days I will say in the early days Meaning the first really three to four Weeks I think reality has set in with
Wall Street even though we're still Seeing a ripping S&P 500 but he does go On to say once Bitcoin touches bottom Then he's obvious going to buy a bunch Of all coins because he knows what's Happening so bottom fishing I'll load up On salana and uh you know there's some Others there further in here Bitcoin is Telling the world that the FED is Trapped between inflation and banking Crisis this is the same thing we talked About before inflation if it doesn't Slow then what is if it does slow what Is the reason that the FED would lower Rates so there has to be an event and Either that's going to be a recession or We're going to have something that is Going to occur that would cause that or It's going to be the inflation doesn't Slow and it's sticky at the top which is Bad on price stability and at that point Maybe the FED can come in and laid rates But if the deflation is high this is a Problem because we're in election year Inflation continues to be high at the Gas pump at food prices this is going to Basically lose the dem's opportunity to Retake the house but if inflation comes Down then the likelihood is we're going To see no reduction in rates which means Also Financial conditions are going to Change up a little bit so I think it's Kind of a bad position overall he talked Further in this Pal's undoubtedly aware
Of these issues he'll do everything he Can to talk of a game but Ray Cuts Without having to actually cut them that I think is true I think we'll see a Pause and if you were listening to the ECP data coming out today they also paus With Kristen lard uh pausing same kind Of narrative pretty much coming out of The EU Market doesn't appreciate this Fact but yet but Bitcoin does and I Think that is the thing Bitcoin is Already seeing and remember Bitcoin is Somewhat of a leading asset to what the Rest of the market is doing And it's all the leading in in terms of A downt turning Bitcoin while the Markets are ripping because they you Know we're seeing this kind of this Hiatus here so I think a lot of this Really plays into what the future might Be Joe canor added to this that there's Some other macro factors here and that's Us treasury debt hitting 34 trillion This is on track to reach 40 trillion by 25 this one more year 40 trillion this Is crazy I was listen listening to some Numbers this week and when you look back At Trump he contributed almost 8 and a Half trillion now granted part of that Was pandemic but contributed 8 and a Half trillion to the debt during his Term his four-year ter Biden's done About four trillion so interesting that That is still occurring because remember
This has a lot of pressure on not only The US currency but just in general the US um you know economy and I think That's the thing that we've got to pay Attention to people lose sight of that An economy drives everything including What we might see in terms of these Investment opportunities James lavish Hitting on the US Treasury held a 5-year Note auction today that fell between not Good and Ugly and uh what he's pointing at is That expectations when I'm met this is On a 4.55 yield versus the 4.03 five uh Leaving basically a two bips tail so not Good meaning that these bonds are kind Of going unmet which means that we're Dealing with still people on on the Sidelines looking at their current money Market uh funds that are pretty much Guiding the cash positions out there Overall and until we see liquidity Coming out of those markets it's not Going into the stock market it's not Going into crypto so are we going to see This lull of these assets for much Longer than we anticipated especially I Wonder if this goes till till May Because that's that's when we have to Really pay attention just in fed also um Has raised interest rates on Bank term Funding uh this goes back into the whole Idea of regional Banks I'm kind of zoom
In on that that's a little hard to read Um but they raise interest rates on Bank Term funding emergency lending program Creating support for regional Banks so This is a problem if you're a regional Bank and you do need an emergency Lending you're going to be basically Jacked up on on what you're going to Have to pay for those funds to be able To bail your bank out so that's a Problem so these rates on new new loans Will uh be no lower than the rate on Reserve balances So currently there's a Record 162 billion in loans taken out of In this program so that's a big deal That could be another you know another Issue with banks here was a a interview On CNBC with Patrick McKenry and because He's talking about regulation and what This lines up for but listen to what he Had to say I thought there were some Interesting points here listen It Financial Services Committee don't it's you know you got a Ways to go so you're I join join joining Us now Congressman Patrick McKenry Chairman of the house Financial Services Committee Don't it's you know you got a ways to go So you're I got another Year and you still got Constituents that that you need to look Out for their interests what does that Entail in terms of crypto what what does
That mean you need to do well I've got Uh look when the house basically Attempted to commit political suicide Republicans in the house tried to commit Political suicide in the fall it gummed Up three or four months of house floor Action so I've got major policies in Capital formation data privacy and Crypto that we haven't moved across Across the house floor and I intend to Get those moved across the house floor This year we can still do big deals um We can still do big deals even amidst The longest uh presidential campaign General election campaign in American History we can still get these things Done and build consensus and I think There's a need uh for Market structure On on crypto the the recent um ETF and Watching the the SEC CH sort of kicking And screaming really after you know the The courts said one thing and is that That's no way to run a railroad is it I Mean it's an aptitude and they they went Kicking and Screaming after the courts Demanded they take this action now you Have more legitimate money coming in Flowing into to crypto uh some structure Being provided to a new asset class that Uh you know has its problems and needs Needs some clarity under federal law to Remedy It all right so you can kind of see McKenry still in the fight for crypto in
General um you also understand that We're starting to see a position that I Think is being taken by what's happening On uh on Capitol Hill and listen if we Get some movement here this would be Another significant narrative for crypto In general because it would open up Obviously what we've seen already with Wall Street so some good good things uh Definitely in play here uh I think Overall uh here's a veteran trader uh Peter Brandt he covers some uh you know Some myths about crypto trading or or Investing in general and some of them Are pretty common but he noted that Those who accumulate wealth rapidly Often fall victim to bad habits and may Eventually lose Everything just because uh they were There at the right place at the right Time so he emphasized the importance of Time and experience uh achieving success As a Trader it takes three to five years Of being slapped around by the market Gaining enough knowledge and confidence To succeed I agree with that to a Certain especially in crypto crypto this Is your first cycle in it's going to be A little dicey but there are huge Opportunities uh for sure uh further in Article hits uh kind of like U likened It to speculation to a marathon Debunking hey you got to be here much Longer you know overall so definitely
Some good points and I think good tips For uh going into the market as it is All right listen we'd love to get your Feedback we'd love to get uh you know an Idea what you guys are really interested In if you like token reviews are you More interested in the gaming sector or The bigger picture as we start to put Together a lot of research on narratives That are starting to form in crypto Right now whether it's salana Avalanche Eth other networks out there what's Happening with flow give us some Feedback we'd love to get that and make Sure and smash a like button right there If you're not in our Diamond Circle get In now it's another great place to get Additional content and of course follow Me on X Paul Baron we'll catch you next Time right here on Tech Paath
