Bitcoin ETF 🚀
Is the SEC really going to approve a BTC exchange traded fund (ETF) next week?
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Dear Bankless Nation,
We’ve been asking the SEC for a Bitcoin ETF since 2013.
Is it really about to happen?
There are serious rumors of a U.S. Bitcoin ETF approval next week.
Both ProShares and Invesco have BTC futures exchange-traded funds lined up to start trading next week. If they don’t get blocked, they go live. And rumor has it that the SEC does not plan on blocking them.
Valkyrie’s Bitcoin Strategy ETF is an investment product that features a list of companies holding BTC on their balance sheet. It was approved on Friday.
Meanwhile, in Europe, Jacobi Asset Management received approval yesterday for a tier-one BTC ETF which will be listed on the Europe Cboe.
All of this happened within the past two days. This is big.
I personally think the ETF will happen next week. And yet the skeptic in me can’t help wondering if this is just an olive branch from Gary Gensler right before he takes a chunk out of some other area of crypto.
Yet there remains hope while we have people in government like Hester Pierce.
Commissioner Pierce in her epic Lawless in Austin speech last week explained crypto to her peers using terms familiar to Bankless—crypto as the Journey West.
The West of the past called to people who were chafing against the staid and stale societies of the East and looking to throw themselves into building a new future in a more promising place. The Western frontier was a place for the adventurous, the rough around the edges, the idealists, the free-thinkers, and the restless.
The idealists. The free-thinkers. The restless. The rough around the edges.
That’s us. That’s crypto.
Watch this video with our comments on the speech. 🔥
Then take some time to read it in full. (She even quoted Bankless!)
Once again I’m reminded that crypto is a battle for hearts and minds. Regulators aren’t machines. They’re not evil. They're people with values, beliefs, and independent thoughts. They’re just like us.
Our job is to show them why crypto is good for the world.
We have tailwinds now. A Bitcoin ETF is coming. We’re winning regulators to our cause. There’s renewed bullishness in the air…
We might even have a political party as an advocate…
The only question left is…
When Ethereum ETF?
Here’s what’s lined up for next week:
Epic podcast with Andrew Yang (early access here)
The case for why crypto is good for the enviornment
We teach you how to get paid by DAOs
Have a great weekend everyone.
P.S. Zerion recently launched some killer NFT features. Just plug in your wallet and start flexing your jpegs!
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Recap for the week of October 11th, 2021
ACTION RECAP 📚
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
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