History suggests a Bitcoin spot ETF could be very bullish for prices (from Bitcoin for Freedom via X)…
Reminder that this happened when the Gold Spot ETF was approved:
Crypto Currency
The U.S. Securities and Exchange Commission (“SEC”) hasn’t approved a Bitcoin spot ETF, but signs suggest it’s simply a matter of time (from Eric Balchunas via X)…
Hearing chatter SEC’s Trading & Markets engaged w/ exchanges this week on spot bitcoin ETF 19b-4s, is advising them they’d like the ETFs to do cash creates (vs in-kind), and has asked them to get in amendments in [the] next couple [weeks]. This isn’t unexpected but [is a] good sign nonetheless. Cash creates makes sense
Read More …
Why famed financial author Michael Lewis is “dangerously wrong” about FTX fraudster Sam Bankman-Fried (from David Z. Morris via Flesh/Markets on October 2)…
Yesterday, Sunday, was the media coming-out party for Michael Lewis’ “Going Infinite,” the forthcoming book about Sam Bankman-Fried. Based on the rollout, the book is poised to be a disaster for the public’s understanding of FTX, and for Lewis’ reputation among actually informed finance watchers. The worst of this came during a 60 Minutes interview
Read More …
However, an ETF is just the beginning of the longer-term bullish cash for Bitcoin adoption (from Stack Hodler via X on October 20)…
Some people will try to get cute and sell the initial Bitcoin ETF approval. But that’s merely the starting gun to BTC adoption. Passive 401(k) flows into Bitcoin ETFs are not priced in. Target date funds adding BTC exposure is not priced in. Asset managers recommending 10% BTC exposure as a counterweight to melting bonds
Read More …
Don’t believe the hype about Bitcoin funding Hamas (from No BS Bitcoin on Oct 23)…
“Digital-currency wallets that Israeli authorities linked to the PIJ received as much as $93 million in crypto between August 2021 and June this year, analysis by leading crypto researcher Elliptic showed. Wallets connected to Hamas received about $41 million more over a similar time period, according to research by another crypto analytics and software firm,
Read More …
