EddieJayonCrypto
24 Oct 23
It has been a crazy couple of days with moves by, of course, BlackRock and a couple of shockers from ARK Invest. Here is what is on my mind today.1. I told you a while ago that Grayscale would not be allowed to just convert their trust to a spot ETF just because the court said the SEC needed to reth...
It has been a crazy couple of days with moves by, of course, BlackRock and a couple of shockers from ARK Invest. Here is what is on my mind today.1. I told you a while ago that Grayscale would not be allowed to just convert their trust to a spot ETF just because the court said the SEC needed to rethink things. So, Grayscale got a court order that compels the SEC to rethink their decision. The important note about this court order is that if the SEC does not make a move this time, the order defaults to an approval for Grayscale's Bitcoin Spot ETF. Not to mention, Hester Peirce was on CNBC yesterday and was voicing her positive opinion on a Grayscale Bitcoin Spot ETF. 2. Of course, you know that BlackRock's name for their impending Bitcoin Spot ETF is iShares Bitcoin Trust. We know this because it has been leaked that they have filed the name with the Depository trust and Clearance Corp (DTCC). This means that BlackRock is expecting official approval VERY soon and they are preparing. It has even been reported that they are seeding the fund right now. FOMO is about to kick into high gear. There has already been a move to almost $35K. I am expecting some people to take profits which could move the price down a tad and then continue the upward move. 3. In other news, let's not forget that BlackRock is a major money manager. They have sounded the alarm about earnings. They think the markets have been stagnant and earnings will reflect that or worse. They are saying they are bullish on megacaps that have a strong presence in AI. I have to say I am in agreement. I need to see how companies are going to leverage new technologies and AI is at the top of my list. I think we are going to start to see some breakout from smaller firms that figure out how to use AI to profound advantage. 4. Yesterday also saw that Cathie Wood's ARK Invest has sold about $5.8M of Coinbase and Grayscale Bitcoin Trust shares. I don't think people paid attention to these moves as much as they are paying attention to all of the BlackRock news. They should be though. This was a cash move on their part. The question is what do they want the cash for? I am thinking they may be seeding as well. 5. I have been telling people to not sleep on what I refer to as the connective tissue of the Web3 space. One of the biggest names I have dubbed to be just that is Chainlink. Just last week I told you to not sleep on their upcoming upgrade that will introduce liquid rewards and a lot more. Chainlink is going to wind up being a major player when it comes to tokenization of assets. In just the last seven days it has risen almost 40%. Believe me when I tell you there is more to come.Sponsors:🌎 https://RebelReach.com - Robust hosting and marketing services!🌎 https://RebelVino.com - All things food and beverage!🌎 https://RebelVisions.com - Helping companies achieve more through operational excellence and disciplined project execution!🔥 Smash the likes and SUBSCRIBE for more great videos! https://youtube.com/c/EddieJayonCrypto?sub_confirmation=1🚨 Full Disclaimer: This video and its contents are for informational purposes only and do not constitute an offer to sell or trade, a solicitation to buy, or recommendation for any security, cryptocurrency, or related product, nor does it constitute an offer to provide investment advice or other related services by Eddie Jay on Crypto. Eddie Jay on Crypto may have a financial investment with the cryptocurrencies discussed in this video. In preparing this video, no individual financial or investment needs of the viewer have been taken into account nor is any financial or investment advice being offered. Any views expressed in this video were prepared based upon the information available at the time such views were written. Changed or additional information could cause such views to change.