RE: $40K BITCOIN MAGINOT LINE24 Jan 2024 10:07
No FUD from Me DRANK ,You misinterpreted my script , My ethos was squeaky Bum time but still HODL , Not Chicken S--t
Regardless ! If you want Bullish , I give you Bullish
I would like to share some words of wisdom posted from a high ranking Top UK Player in the Digital asset space ,He explains the implications from recent SEC approval -
Has anyone really had the chance to digest the magnitude of these last few days?
I don’t just mean that the SEC approved 11 BTC ETFs at once (has that ever happened?!), or the trading volumes of those new ETFs, or even that its taken 11 years for demand validation of the Gemini application, but rather the fact that this changes everything in digital.
Here’s a few thoughts:
Legitimacy: the ETF launch firmly cements the asset class amongst all other trading products, and access via traditional trading platforms will be markedly different going forward.
Institutions: Those sitting on the sidelines afraid to embrace the crypto space, whilst feeling a certain FOMO, can now get involved. This will unlock a potential wall of money for the digital asset market.
Banking: It's notoriously difficult to get a bank account if you work in our industry. Now it will be practically impossible for banks to ‘unbank’ everyone exposed to crypto. The issuers of the ETFs have access to banking and the platforms offering the products do too - banks need to relook at their dated policies.
US regulation: At risk of falling far behind on a monumental shift in financial markets technology, the approval and launch of the ETFs now places US as one of the best places to access the crypto market through traditional products.
Public chains: With a swathe of ETFs to follow, both single names and baskets, any reputational stigma for TradFi institutions about creating product on those public chains should recede, meaning we are likely to see more interoperability rather than siloed development.
Exposure: Many more people are now exposed to crypto directly or indirectly. If you hold crypto, if you own shares in some of the world’s largest asset managers, banks, trading platforms etc – you probably have or soon will have part of your future exposed or connected to crypto, no matter how tiny. Welcome.
Competition: Traditional players arriving should improve things for consumers, but some truly innovative companies may fall away if we don’t ensure a level playing field with regulation and infrastructure. Trading fee compression too will take place especially with these latest launches.
UK: The derivatives ban a few years back also captured retail investing in ETPs, even though buying crypto directly was still possible in a less regulated way. It makes even less sense now. The Financial Conduct Authority and HM Treasury should reassess so that CoinShares et al who have been fighting the good fight from the UK for years can compete.
Forever: The genie is out of the bottle and t
Sign In
Follow the stocks
