EddieJayonCrypto
10 Nov 23
There was a lot of noise around Ripple and the SEC. Then there was huge news about BlackRock and their ETF. Both moved the market. Here is what is on my mind today.1. The big news yesterday was that BlackRock filed for their Ethereum Spot ETF. This was confirmed in NASDAQ filings and other sources. ...
There was a lot of noise around Ripple and the SEC. Then there was huge news about BlackRock and their ETF. Both moved the market. Here is what is on my mind today.1. The big news yesterday was that BlackRock filed for their Ethereum Spot ETF. This was confirmed in NASDAQ filings and other sources. That means they are on an ETH buying spree. The truth is we don't actually know when they started buying. The effect of the news started hitting as it started coming across the wires. That's why at the time of this writing ETH is still flying high trading at nearly $2,100. 2. Not to be outdone, ARK Invest and 21Shares have partnered again to introduce their own Ethereum Spot ETFF filing. More importantly, they are actually introducing an entire suite of Digital Assets ETF offerings. The ETFs will be listed on the Chicago Board Options Exchange (Cboe), enhancing accessibility for investors. Each ETF is supposed to have its own focus. I am curious as to how they are going to make those determinations. 3. MicroStrategy is laughing all the way to the bank as profits from Bitcoin soar to over $1B. So many people only know them from their Bitcoin moves. You may be surprised to learn they are a major software company that has their software in at least half of the financial institutions around the world. That ought to tell you they know how to do the math. I am just wondering how long it will be before their main business switches places and becomes the sideline. 4. In the opposite direction we have Galaxy Digital whose Q3 numbers did not impress. As a matter of fact, they have increased losses for the quarter. They are banking on their application for Bitcoin Spot ETF. They are hoping when that approval comes all of their maneuvers will finally pay off. Well, we will have to wait and see. 5. That said, the Chicago Mercantile Exchange (CME) has snatched the crown away from Binance as the largest Bitcoin futures exchange. This means institutional investment in Bitcoin has grown, substantially. 6. Celsius has been cleared to exit bankruptcy. The plan is to payout in CEL tokens and reopen as a mining business. When you think about it, the plan makes sense. That is a business where you can actually print your own money, so to speak. 7. Circle is working hard to make USDC and EURC more competitive. Their v2.2 upgrade is said to reduce fees by 7%, The upgrade should be added security and efficiency. I want to see if the savings actually happens. Not to mention I want to see if that will increase the use of the stablecoins. So far, Tether is still the big boy on the block. 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!🚨 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.