BREAKING: Ethereum ETF Just Approved (Major Changes Explained)

this is unbelievable we just got the spot ethereum ETF and it was just approved to everyone's surprise it came out of nowhere but do you remember how we got here picture this it's Florida Wednesday May 18th 2010 it's a cold dark night it's raining thunderstorms it was crazy except it didn't happen like that at all it was actually clear and sunny skies with not I care in the world about Bitcoin which at the time was worth only .4 except for a couple crypto nerds no one knew what Bitcoin was but that's when llo henich posted something that would eventually become history I'll pay 10,000 Bitcoins for a couple of pizzas like maybe two large ones so I have some left over for the next day I like having leftover pizza to nibble on later you can make that pizza yourself and bring it to my house or order it for me from a delivery place but what I'm aiming for is getting the food delivered in exchange for Bitcoins where I don't have to order or prepare it myself kind of like ordering a Breakfast Platter at a hotel or something they just bring you something to eat and you're happy and that's when absolutely nothing happened no one cared about 10,000 Bitcoins and no one took him up on it until 4 days later that's when a young man named Jeremy Jericho took him up on the offer and delivered two large pizzas from Papa John's now that became the first ever exchange of goods and services for Bitcoin in history and today it's celebrated worldwide and it's known as Pizza day which happens on May 22nd now at the time that transaction was worth about $40 cuz Bitcoin wasn't worth much at all but it's gone up a little higher since then okay sorry let me just get this trade you have been about $800 million on Pizza what the I feel so bad for llo cuz he has to hear this every single year he basically turns into a piñata well look at that guy doesn't he regret it he must feel like an idiot so thank you llo for your sacrifice and happy Bitcoin Pizza day but this video isn't really about Bitcoin pizza or llo as much as it is about the entire crypto industry through the lens of ethereum which is about to have its own pizza likee historic moment because ethereum has been on a rampage this year it's up 60% year-to date with 20% of that coming in just the last few days and that's because of the spot of theorum ETF which just got approved along with some really interesting things that are also happening behind the scenes so let me show you how we got here what's going on and what can happen to ethereum's price let's get into it hi my name is Andre J hope you're doing well come for the finance and stay for the crypto channnel just kidding so here's why everything is happening reason number one is Money talks and this goes back to history with the SEC the Securities and Exchange Commission and this guy uncle Gary gendler and for the longest time him and his commission despised and hated any exchange traded products in the crypto space in fact they were so against it Gary gendler would put out entire press videos about why he's not approving any of them saying that it's dangerous and it's manipulated you must come into compliance register with us and then all of that automatically changed when a couple big players entered the crypto space players like Black Rock Fidelity Invesco Wisdom Tree vck grayscale Arc falkyrie bitwise in other words companies with trillions of dollars in Combined assets under management those companies realized something that we knew all along which is that there is a lot of money to be made by allowing people to buy their Bitcoin through their favorite Brokers like Robin Hood and their workplace through their 401ks and IRAs and after a lot of pressure from the courts and I imagine some big-time Lobby money allegedly they had to finally approve the spot Bitcoin ETFs and that's when something else happened black Rock's Bitcoin ETF became the fastest growing ETF of any asset of all time Black Rock alone now holds more than 281,000 bitcoins worth roughly $20 billion collecting cash money on the spreads the management fees and they are making Banks Black Rock went from calling Bitcoin an index of money laundering to being quote very bullish on it that's how much money they're making and that's reason number one which is mostly connected to the spot Bitcoin ETFs but what about ethereum that's what brings me to reason number two which is 19B d4s and before I explain what that means I just want to briefly mention the sponsor of today's video Gemini now I know there's been confusion last time so I want to be very clear this time Gemini is separate from a company called Genesis which was their partner on something called the earn product which is no longer around and it was Genesis that declared bankruptcy and agreed to settle and pay back all the funds to gemin customers now Gemini the sponsor of today's video is a us-based company out of New York they're heavily regulated by the government they're available in all 50 US states in 70 countries so two very separate things and I wanted to be very clear on that now Gemini is a full Reserve cryptocurrency exchange and custodian they were founded in 2014 and they've been a Crypton native since day one and they're also offering new eligible users the opportunity to earn $100 in Bitcoin when they trade $1,000 in crypto in the first 30 days of signing up Gemini also has tools for new and advanced Traders they have an advanced trading platform called active Trader which is where you can see Advanced charting tools access to over 300 crypto trading Pairs and multiple order types to trade the way you want I personally use their active Trader to buy my Bitcoin cuz I found it's one of the cheapest places to get it and then I'll transfer it offline to a hardware wallet to be extra safe but their team has been around since the early days of crypto and they're super focused on the fundamentals like transparency and security features like pass Keys support their industry-leading account security standards and are an important way to keep your account safe so if you sign up and start trading with Gemini today you can use my link down below and earn $100 in BTC but also please use common sense and don't risk your life savings into it crypto is risky so please be safe and thank you Gemini for sponsoring this segment of the video and now let's get back to it so form9 b4s is basically an application that says hey SEC now that you've approved the spot Bitcoin ETF and we're making money can you also approve the spot ethereum ETF cuz we want to make more money of course I'm simplifying here but what form 19B d4s does specifically and why people are so excited about it is because it makes changes to their original submission because there was one thing in their original submissions that SEC did not like and that was the ability for the ETF companies to stake ethereum and collect the fees for doing so now I'm not going to get into the weeds and legalities of something called the hoe test and put you to sleep but just understand that anything that labels ethereum a security is the sec's specialty so think this is sort of like the Matrix Neo here is ethereum but if he gets labeled a security then Gary gendler becomes the train man and down there he makes all the rules and if it's left up to the SEC they reject it right to jail so what these companies did was they removed the language in the 19 b4s form that allows the SEC to say no now this is good but it's also kind of bad it's good because it puts Neo out of the train man's way but it's bad because there's also a fourth Matrix movie and it's just not that good and what I mean is once the ethereum ETF gets approved and once people can start buying it they will not be as good as owning ethereum directly now that's a whole separate video let me know if you want me to make that video but long story short by owning ethereum directly you're able to stay they can collect the rewards versus owning the ethereum ETF where you will not be able to do that now for most people that's totally fine because only 25% of eth holders even stake their eth most people just let it sit there collecting dust and I happen to be one of those people but bringing it all back now that the spot of theum ETF is finally approved it's going to take a little bit of time before we see it in our favor brokerages because they still have to approve s1's but that will happen relatively fast and speaking of how fast these things can happen not just for ethereum but the entire crypto space Donald Trump recently said he will start accepting crypto donations becoming the first major political candidate to ever do that and the first US president to ever do that that's a headline that I think most anti- crypto people would never thought they'd see but there's also something else it's called fit 21 which was a bill that was just passed by the house and it provides a regulatory framework that will finally do for crypto what everyone's been waiting for which is safety and protection for consumers similar to how Brokers are protected through the sipc and how banks are insured by the FDIC fit 21 provides the regulatory Clarity and robust consumer protections necessary for the digital asset ecosystem to thrive in the US that is just insane progress now it's not official yet we're still waiting for the Senate and the president so we'll see what happens but this is arguably the most bullish news that ever happened to crypto since the approval of the spot Bitcoin ETF and if Nancy Pelosi is in I'm all in now I have I have no idea what she's doing she probably hates crypto but I am paying closer attention to her husband now let's talk about everyone's favorite thing which is the price specifically for ethereum according to world renowned investing Scholars Reddit the price could go to $110,000 a coin or triple what it's at right now once the ETF is trading and that is possible I don't think it'll happen soon just because I think ethereum's price today has already priced in the ETF approval so I wouldn't be that surprised if the price went down before it climbed back up but what I think is way more interesting than that is that now this spot ethereum ETF is approved it'll be one of the last few dominoes to fall before they just have to accept the rest of the industry as well and then it's a matter of time before we see an all-encompassing crypto ETF in the same way that we do with stocks like Vu for example an ETF that tracks the top 500 companies in the US at some point or another we'll see a crypto ETF that tracks maybe the top 10 cryptos of all time Wall Street will keep on pushing garbage out and the SEC will keep on saying yes as long as it makes Wall Street money that's why we're saying all these other coins are pumping because people are placing bets on where they think the ETF approval will go next who does such a good job at explaining what I also think is really going on it's because Banks and Wall Street are making money if banks get a really bad deal in today's market is they have to buy bonds that are performing awfully and all of a sudden they get a free market in this independent crypto thing and they're actually making money these markets have life these markets go up when governments debase their currency these things perform well and they got a taste of Bitcoin and it was the best performing product that they've ever had and they're like oh man how many other pieces of crap are there out there that we can list as ETFs and I literally think that's what's happening it's a way better business to launch crypto ETFs and it is to buy bonds right now uh based on the macro environment so I think someone said hey Gary sorry buddy uh despite you thinking that these things are securities we need to make money and that's what happened and I think all of that is spot on because for me personally it's all about Simplicity the only chart that I needed to see is this one compared to gold and compared to the stock market Bitcoin has crushed everything and over the long term I think the compound annual growth rate of Bitcoin will continue to outpace everything else especially when rates go back down so we can service the national debt so I'll stick to bitcoin and a little bit ethereum and remember even though I personally love crypto it still represents no more than 20 to 25% of my net worth at any given time because I want to be Diversified and limit my risk because I don't know what I don't know still I think 2024 will be an incredible year for crypto and it'll probably be one for the history books as always though I hope you have a wonderful rest of your day smash the like button subscribe if you haven't already don't forget to grab your free stocks links are down below and then go track them automatically with a spreadsheet linked Down Below in my patreon thank you so much for watching this video I'd love to see you back here on Monday and Friday sometimes a Wednesday see you soon bye-bye

Channel: Andrei Jikh

Views: 124,780

Keywords: how to invest, bitcoin, million, ethereum, market crash, crypto, stock market, passive income, dividend investing, dividends, dividend stocks, crypto crash, stock market crash, bitcoin crash, NFT, how to buy bitcoin, cryptocurrency, robinhood app, best trading app, stocks, investing, investing for beginners, how to invest in real estate, how to invest in stocks, best stock trading app, credit score, andrei jikh, best investment, dogecoin, robinhood, portfolio, millionaire, recession

Id: zI4efM8Llek

Length: 12min 5sec (725 seconds)

Published: Fri May 24 2024