Latest / The Paul Barron Crypto Show / Ethereum ETF Finally Launches!!🚀Outperforms Expectations?🔥

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Ethereum ETF Finally Launches!!🚀Outperforms Expectations?🔥 · The Paul Barron Crypto Show

0:07
Welcome into an early livestream. Today we'll be diving into the ethereum ETF and
0:12
maybe how this plays out in the markets in the immediate future. But I
0:16
think there's some things that could be brewing long term here on a handful of
0:20
different projects. We'll give you all a breakdown of that today. My name
0:24
is Paul Berre. Welcome back in a tech path. Before we get started,
0:26
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think it works for you. I want to go over and just remind everybody
1:17
we are nearing the four hundred and fifty thousand subscriber mark. We're gonna hit
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five hundred this year. I know it, and I think we may blow
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past that. But the point is, subscribe to the channel. If you're
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course share these videos because it does help get these out there into the YouTube
1:36
algorithm for people who maybe are just now beginning to learn about ethereum. So
1:41
do that. We appreciate it. Let's get into the news today. A
1:45
couple of points I want to jump onto. Is this right here, the
1:48
Ethness stakes. I like this one. This was of course came in from
1:53
Balshunis, so it's kind of showing all the different all the different ext operations
2:00
with it. I'm looking at this thinking racesources right now, but anyway,
2:05
all the different platforms that are available for eth and of course you guys can
2:08
kind of see how it's trending right there. Of course, the starting fees
2:13
still let zero, which I think is going to be a big one.
2:15
Gray Scales kind of leading the way right now. We'll show some inflows and
2:19
give you guys some insights on how that is. Don't forget to put some
2:22
questions in over on the side. We'll try to get to some of those
2:24
toward the end of the show. Maybe we might take a few in the
2:29
middle. We'll see how things are going. Arkham, of course coming in
2:32
all time are all ethtfs. Now at Arkham they've identified on chaining locations of
2:38
most of those, so you can go and take a look at that.
2:40
Over on Arkham you can kind of see some of the transactions that are occurring.
2:44
Here's black Rock right there, and you can kind of see not only
2:47
the price but obviously the holdings right now at ten zero point sixty two million.
2:53
And of course this is very early in the day, so a lot
2:55
happening here, and I think the question will be how this holds out out
3:00
for the rest of the day. Here's Grayscale of course leading the way on
3:04
inflows on all of that. So this is going to be one I think
3:07
to watch and kind of the thing that everybody's been anticipating here is about twenty
3:12
percent of what Bitcoin's first day was, which was around four billion. I've
3:15
got some stats on that question, will be Can ethereum also pace in that
3:20
way? If it gets to that point, in my opinion, that would
3:23
be a huge win. Anything over twenty percent would be significantly above what I
3:29
think a lot of analysts have pinned the ethereum ETF to do. So good
3:34
stuff. I want to go to a clip real quick. This first clip
3:36
is Pompeiano. He's talking about the ethereum ETF and how this may roll out.
3:39
Take a look spot of theorym ETF set to begin trading today. The
3:45
SEC approved ETF applications from twenty one shares bit Wise, Blackrock, Fidelity,
3:51
I Shares, Beneck and Franklin, Templeton as Long, along with Invesco,
3:55
Galaxy and other milestone Anthony Pompleano was here, a founder in COO of Professional
4:00
Capital Management Pop. It's nice to see you. Good to see you think
4:03
this is a game changer. Not really. You seem less excited this morning
4:06
than when you were here on Bitcoin Day. Yeah. Well, let's go
4:10
look at the Bitcoin ETF I think, you know, historic thing, probably
4:13
the best ETF launch in history. One of the interesting stats is that the
4:16
black Rock Bitcoin ETF has had more net flows than QQQ year today, right,
4:21
so just massive flows there, over five hundred million dollars just yesterday alone.
4:25
And so I think what a lot of people say is, well,
4:27
that was the first one. Is the second one going to be as big?
4:29
And I don't think that's true, right, if you just go and
4:30
you know, before I came on, I looked at all the major news
4:32
sites. People aren't talking about it as much, and so the media attention
4:35
to hype all that stuff isn't really there, and so it brings you to
4:39
the question of like, why are people not talking about it as much?
4:41
And I think part of the challenge for ethereum is that the story isn't as
4:45
clear. It's very close bitcoin, right, it's digital gold. We start
4:47
talking abouteum, you're talking about a technology platform. There's a lot more competition,
4:50
et cetera. But if you go and you talk to the people at
4:53
bitwise they're launching eighth w today, what they would tell you is, well,
4:57
actually there's diversification. People on Wall Street love and so maybe actually the
5:00
benefit that ethereum will have is just people say, well, I don't want
5:02
to have just one, I want to have a couple of them. It's
5:04
bitcoin, it's e theorum. Let me do like a seventy thirty split and
5:08
that'd be good enough for it. I'm going to agree with Pompeiano. There
5:12
is that you will see a lot of these portfolios. Try to look at,
5:15
you know, alternating balances and really looking at hedging your bed a little
5:19
bit on two completely different ecosystems. If you look at Blackrock, this was
5:26
their ether pitch to normies. And while many see Bitcoin as the key appeal
5:30
in its scarcity, many find ethereums appeal and its utility. You could think
5:33
of ethereum as a global platform for applications that run without decentralized intermediaries. I
5:40
mean, essentially, that's kind of the next generation of the Internet. I
5:42
think a lot of people will get that, especially some of the premium asset
5:46
managers that will start to play into this market. And here's the thing.
5:49
When you look at the asset managers, and what I mean by the managers
5:55
themselves, the makeup the demographic of these asset managers. If you have asset
6:00
managers like a Vanak that I feel are much more forward thinking. Twenty one
6:04
shares more forward thinking. I'm not saying that others are bad, but they
6:08
look toward more innovative technologies, and I think that's where Ethereum will shine in
6:13
those particular funds. And the cool thing here too is remember you got a
6:17
lot of asset managers that are independent, whether it's family offices, et cetera,
6:21
that are trending quite a bit younger, and I think Ethereum is going
6:26
to end up being one of the picks that they that they choose here,
6:29
of course was I Shares. So you guys can of course learn a little
6:31
bit here. They're one of the launches we're going to be getting them.
6:35
Actually we're going to get some of the funds on this week, so hopefully
6:39
we'll be able to get a little bit more insight onto how these are going
6:42
to play out for them, and also whether or not the success of what
6:46
they're expecting with the eth launch has been able to live up to the hype,
6:50
even though I think the hype, to Pompeiana's point is maybe not has
6:55
been as strong obviously as the Bitcoin ETF doesn't necessarily mean we won't see the
6:59
income. Are the inflows coming in today? For sure? If it hits
7:01
twenty percent. I think this is the key one right here. Franklin Templeton,
7:04
of course, very forward thinking. Again like the profile picture, and
7:10
I think that's the thing. The advertising begins, the promotion component starts to
7:15
begin, and this is when I think people will still weigh their options.
7:20
The other thing that is going to be interesting to me is how this may
7:25
play out even for people who are on the fence with ethereum. And what
7:28
I mean by that is people that are maybe have been accustomed to buying Ethereum
7:33
on an exchange and then all of a sudden, say, you know,
7:36
I might jump over to Fidelity, or I might jump over to an exchange
7:40
and buy Mythereum there and go that route. That would be I think that
7:46
could be a larger percentage of the investing population out there than many people expect,
7:49
so that itself, of course, will only benefit on bolstering these inflows.
7:55
I want to go to another clip. This one, of course is
7:58
the ether Eta predictions coming in from Blackrock. Take a look. Thanks so
8:03
Mara Cohen is here, chief investment Officers of ETF and index investment at black
8:07
Rock. You've got a lot of skin in this game here. Any sense
8:09
that of the size of what this could attract. I mean, the Bitcoin
8:13
is what one point three trillion in assets under management. Ethereum maybe four hundred
8:16
billion, so it's a third the size. I'm trying to get a sense
8:20
of how what kind of inflows you're expecting. Sure, everybody's trying to get
8:22
a sense, but the important thing to keep in mind is that this is
8:24
early days. We are six months into the trading of bitcoin ETFs and fifteen
8:30
years into transactions on the Bitcoin blockchain. We are four hours into trading of
8:35
Ether ETFs and nine years into transactions on an ethereum blockchain. A bought.
8:41
These are totally different use cases. So while Bitcoin is really known for it's
8:46
scarcity, it's twenty one million finite supply, Ether is a totally different use
8:50
case. Ether is known for its utility. It is a programmable blockchain designed
8:54
to let developers build decentralized applications on the blockchain system. So for people like
9:01
us who are really interested in what the next phase of markets will look like
9:05
and is there the possibility to deploy new technology to create innovative use cases and
9:11
applications. This is a really important space to watch in ethereum. That's a
9:15
great pitch for ethereums, smart contracts, decentralized finance, and uses blockchain in
9:20
a completely different way. Are people going to understand that? Is, are
9:24
just going to attract people who are actually interested in learning about this new technology
9:28
that's different than Bitcoin. Bitcoin may be easier for people to understand. In
9:33
a very high level pitch, Bitcoin has gotten a lot of attention by people
9:37
calling it digital goald. It may take more time for people to understand the
9:41
applications of ethereum, and that makes sense given the breadth of applications and the
9:46
breath of potential use cases. I think, Bob, they are compliments to
9:50
each other and it's going to be really interesting to see how both play out
9:54
in the portfolio. We now have two of them. Is there going to
9:56
be more a Bitcoin an Ether? In our view, are really the ones
10:01
that meet the bar in order to provide the liquidity, market quality and tracking
10:05
through an ETF wrapper for investors. So you'll have to have me back at
10:09
a later date, Bob, all right, Well, I like her her
10:13
pitch in the sense that innovation is kind of leaning in on the each side
10:16
of things. I anticipate that this is going to be much faster in terms
10:22
of market take up than what we've seen with other ETFs. Not necessarily the
10:24
bitcoin. Bitcoin I think just has such an allure to it from investors as
10:31
a whole, but pushing on into kind of the next generation, I think
10:33
this will accelerate quicker. And the thing that might really change the future here
10:39
is the accelerant of the ecosystem of what's happening within Ethereum, especially when asset
10:45
managers and you know, traditional large network individuals start to look at it as
10:50
a true innovation class investment and start to move their money there. And I
10:56
think that's the thing that you have to consider. When you consider that,
10:58
you have to look at how they're marketing. And here's bitwise a good example
11:03
introducing e W and I like the fact that they're doing a few you know
11:07
features here fund investments directly in the point too on the management fee zero for
11:13
the first six and then up to five hundred. MILI donates ten percent of
11:16
the profits to ethereum open source developers. Pretty cool funds. Ethereum addresses for
11:22
public transparency and then built by crypto specialists. So they're going after it in
11:26
the sense of much like a startup. You know, if you think about
11:30
how startups go out to market in an IPO, et cetera, and asset
11:35
managers are out there trying to you know, raise money in those areas.
11:37
This is a good example of what I think is happening with a lot of
11:41
the ETH purveyors here that we've seen so far, and I think this is
11:43
the one that's going to be, you know, one to watch very closely
11:48
in the next few weeks. Here was another tweet right here, we're thrilled
11:50
to have collaborated with bit wise to enhance the transparency for the ETH using subnames.
11:56
So bitwise is now assigning subnames, stall addresses, whole on chain assets
12:01
backing their ETF. So also kind of drinking the koupl aid here in terms
12:05
of how this is going to work from an accounting standpoint. So don't forget
12:11
put some questions in over on the side, we'll try to get some of
12:13
those. We'll take a look at some of the charts as well and get
12:16
all that good stuff going in. One of the points I wanted to hit
12:18
on There were some notes here on this article right here theorem name service.
12:22
Remember E and S. This is one we've talked about before on the show
12:26
quite a bit, and whales are now buying on a buying spree, so
12:28
a little bit of activity flowing out here. This is think of this as
12:33
the go daddy for ethereum. Put it that way, pretty simple to follow
12:37
along. Currently trading at twenty seven thirty eight on chain analysis now shows things
12:41
are happening behind the scenes that could soon send e ands in that direction,
12:46
so not bad. This will be one to look at largeholders. Net inflows
12:50
show that the accumulation gan around the twenty first so kind of in timing here
12:56
with obviously the ETF and I think we'll see more of this in the coming
13:01
weeks months with a lot of these kind of projects that you know, kind
13:05
of encompass around what ETH is doing as a whole, especially ones that are
13:11
more advanced into kind of the technology forefront that is well known, such as
13:16
name services. When you think about just what's happening in TLD's with top double
13:20
don't means like, you know, go daddy. Here's another one I want
13:24
to jump. This is a clip here of one of the ads. I
13:28
think this is the van acad Let's tick. A. Look, let there
13:31
be an open source network where money flows more transparently. Let there be transactions
13:39
without resource intensive mining activities. Let there be tech that can unchain your code
13:45
is the key. Let ether be enter the ether with eth V. You
13:52
can now get ether exposure for zero fees with the vanak Ethereum etf efe.
13:58
So I think that will definitely hit Obviously Budget Penguin, they're on the brand
14:01
hit most likely gen Z's and maybe some millennials that really understand the NFT side.
14:07
Maybe Vanek is that play there for that particular audience. And I think
14:11
the targeting, the marketing, they get it. They know who they're targeting
14:16
in terms of the marketing versus when you look at what Blackrock is doing versus
14:18
twenty one shares. I think each of these funds have a certain demographic they're
14:24
going after, and it might be similar to the demographic that they already serve
14:28
in other funds within their organization. So kind of cool to see them going
14:33
in that direction. This was the van X CEO talking about the fees and
14:37
also what ETFs are coming next. Take a look first off. Are they
14:41
tracking ether People ask me that, and do you think ether ETFs can be
14:46
the hit bitcoin ETFs where when they launched seven months? Yes and no.
14:50
They're trading very well. Etherian products have traded around the world for several years
14:54
now, and the launch was very smooth. I think there were a lot
14:58
of kinks when it came to the bigco ETFs in January, but now things
15:01
are going well. The interest in ethereum. Ethereum's market cap is like a
15:05
third of bitcoins, and I think investor interest will be less. Today's flows
15:11
are in the ten to twenty percent range of bitcoins flow, so a lot
15:15
lower interest. Now. You launched with zero fees again for the first year,
15:18
I think, and most others also have zero fees as well for the
15:22
full at least for the next six months. You did this with bitcoin ets
15:26
as well. This has cost you a lot of money to float these two
15:28
things. What's the rationale for no fees? You can get in for nothing
15:33
essentially, Yeah, I think what people are doing is moving some of their
15:37
existing holdings into the ETF format, and in order for issuers to entice that
15:41
movement, they wave the fees early on. So it's not Suddenly I'm getting
15:46
it for free and now I have to pay more in the ETF. So
15:48
I think that it worked. I guess the question the bigger question is is
15:52
this going to open the floodgate for other crypto ETFs sets up? I don't
15:56
think so. We filed for a Solana ETF and solon competing with ethereum,
16:00
but I don't think that's going to be a short term listing. You don't
16:04
think so? Now what about a regime change in Washington? Then yes,
16:08
then yes, yes, the parties have really split in terms of their support
16:14
of blockchain software. Okay, we're gonna have a lot more on this.
16:18
He's just getting scratching the surface. He has a lot of opinions on this,
16:21
folks. Much more on ethery of ETFs, bitcoin ets and crypto ETFs
16:26
in general coming up on ETF edge one ten pm Eastern time. Yan will
16:29
be joined by Ben Johnson. All Right, So the one thing to note
16:33
here with some of these clips is that and I think this is really the
16:37
bigger picture here. And it's almost surreal if you think about this, because
16:41
we've been covering crypto for many years and we have never seen the acceptance of
16:47
Wall Street and this is where we are now. I mean, it has
16:49
been a massive wave of acceptance across a variety of ETFs. But I think
16:55
also just in general of how blockchain is working, especially as we start to
17:00
see things around RWA's and I think the tokenization of securities, all of that's
17:04
going to play into the future. But it's happening much faster than even I
17:10
anticipated, and I'm very bullish on this technology and where it's going, so
17:14
that in itself, I think is the part that is I mean, it's
17:18
kind of not really an I told you so moment, but it is very
17:21
surreal to see this happening so much on the mainstream networks. Here here of
17:26
course, coming in from coindesk eth rises above the thirty five ahead of the
17:30
ETHTF, we saw that inflow concerns are a little bit in play here and
17:36
a couple of things. Let me kind of zoom in on this. No,
17:38
I don't know if you guys have been seeing this, but I just
17:41
want to make sure that's not given you guess this. But market participants are
17:44
also closely monitoring Grayscale. This is nine billion eth trust. There's concerns that
17:48
greyscales potential selling pressure could counteract the positive effects of new inflows. So this
17:53
is kind of similar to what happened with bitcoin, even though I think Bitcoin
17:57
just kind of blasted through that. Remember Bitcoin had that. I think it
18:02
was one or two days of good positive growth on the launch of the ETF
18:04
and then we saw the downtrend and then of course off it went. But
18:08
this could cause some exerting downward pressure on ethereum in the early going here if
18:15
we do see some activity there, So definitely something to keep an eye on,
18:19
all right. Just as a reminder, if you guys, don't if
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you're not subscribing, you're just now joining the live stream. We are trying
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part of the PBN family. And it's great because of course this is going
18:42
to get into your algorithm and help you share this out with other people that
18:47
maybe have not completely jumped on to the crypto bandwagon. Here's Eric Balshonas talking
18:52
a little bit about the early day inflows, and this was what he considered
18:56
halftime Nearly six hundred mils so far put in them on pace to hit a
19:00
billion changed by the end of the day, which could be at about twenty
19:03
percent of the four point six billion that bitcoin ETFs did on day one,
19:08
so at that point, and remember a lot of analysts were saying twenty percent
19:12
would be a huge win if it happens for day one. And again remember
19:18
I think this first week is the critical week because this will be one to
19:22
watch and you can kind of see some of the leaders right now as gray
19:26
Scale, black Rock course leading the way, but Fidelity much like Bitcoin Fidelity
19:32
bit wise right behind it though Matt Hogan, so Gray Scale, Vanak,
19:36
Franklin and Vesco and then twenty one shares coming in but totally on the half
19:40
day mark. This will continue to move as we go forward. I think
19:44
safer It had some up dates here. This was through one thirty, which
19:48
was about an hour ago, and correcting the formulas. Ether on track or
19:52
ethtfs are on track right now to be a bit shy of the one billion
19:56
in trading on track to at nine or forty million two and a half hours
19:59
le left nine to thirty two million would be twenty percent, So we're close.
20:03
It's going to be very interesting to see this play out. We'll probably
20:07
have some more tweets in before the end of the stream today. Maybe we'll
20:11
catch a two thirty to three o'clock number. Other things to consider right here,
20:17
one way to decide which ETF is, which issuer has the most skin
20:21
of the game, And there's a lot of people that are looking at this
20:23
right now. Notable and this is something we've talked about before on our show
20:27
vn X. Sure they've had I would say a lot of awareness around ETH
20:33
and their team has been very active within the ecosystem. But notably van X
20:37
seed ten millions, the second largest, only ten percent smaller Blackrock who literally
20:44
one hundred x on their AUM versus than us, So pretty intriguing. The
20:49
egovan X kind of running right there with the big dogs, which I think
20:53
this is going to be something that we will see more and more. Is
20:59
maybe a little bit of a shifting of the table in terms of where the
21:03
eight powerhouse is from an ETF standpoint, because the dynamics are different in terms
21:08
of the investor class. I think again we could still get a blowby on
21:14
Blackrock just because of their reach and in them right now of course leading the
21:18
pack. But we'll see how this plays out over that first month, first
21:22
week, we'll probably start to get some indicators much like what we had with
21:25
the bitcoin EHF, because I think a lot of people were right there as
21:29
well, polymarkets getting into the fray here ethereum all time high. Many people
21:33
are saying, well, when would that be? Right now? Q three
21:37
is the bat target at about twenty three percent chance Q four coming out of
21:42
twenty nine, and then you've got no ath in twenty twenty four. So
21:48
interesting stuff here, and I'd love to get you guys at feedback. Let
21:51
me know, drop some comments down below if you think that ethereum is going
21:55
to hit an all time high this year, and make sure and participate in
21:59
the poll if you're not already voted. Voting on that poll. I'd love
22:03
to see kind of how you guys are seeing some of the feedback there on
22:07
where the market is going. Lots of questions coming in and I just want
22:11
to make sure we've got the queue coming in Yep, looks good. All
22:15
right, excellent, Yeah, okay, do you guys want to show poll
22:18
today? Right now? All right, let's go to the first poll.
22:22
Let's take a look at that one. All right, So here we go
22:25
ethtfnflows first week below. Expectations meet or exceed so people right now pending on
22:33
the below. That surprises me a little bit. I know, we have
22:37
a lot of salt of people in the house, probably a lot of avalanche
22:42
people in the house, But I feel like this may be right at expectations
22:47
based on I mean, it depends on what expectations are. If you're talking
22:49
about market analysts expectations twenty percent, that's probably a little bit soft. I
22:55
feel again, this will all depend on how the market plays at You have
22:59
to also remember the political landscape that we are facing right now, and that
23:04
is shifting away from you know, the president stepping down and now the vice
23:10
president coming into the Democratic position for the nomination. All of this has pressure
23:15
on what the markets are doing. So interesting timing here across all of what's
23:21
happening with crypto, will ethereum hit ten K and twenty twenty four right now?
23:25
There's a thirteen percent chance on it and this is something that many of
23:30
the analysts that I talk to, crypto analysts, chart guys, et cetera.
23:34
They're still looking for later in the year or early twenty twenty four as
23:40
a potential for an eighth run. So so we'll get that. We've got
23:45
one more polls, so don't forget to vote on that. We'll try to
23:47
get to that in a second. One more chart here on poly market,
23:49
what price will eth reach in July? Here, everybody's kind of pointing in
23:55
right there at thirty seven hundred at forty five percent could follow a lot and
24:00
this would be, this would be this would be aggressive too, with at
24:03
thirty seven hundred, thirty nine hundred coming in nineteen forty one and forty three.
24:08
Kind of positioning on that. Kind of curious, have many of you
24:11
guys used polymarket actually play a bat kind of curious. We've got guys in
24:17
the crypto pit they've been using it. Some are winning, some are losing.
24:19
So it's it's kind of a mix a mixed bag there for sure.
24:23
Peter Schiff, of course he has to come in on the topic today because
24:27
why not. You know, you've got to be able to play the spoil
24:30
today, several ethf's begun trading. Not only will this likely be a buy
24:36
the room or sell the fact event for Ethereum, but it's also bearish for
24:38
Bitcoin, asf ETF investors sell some of their bitcoin ETFs to reallocate into position.
24:47
Even though it wasn't the numbers like five hundred million on the day for
24:48
Bitcoin in terms of inflows, no on the day for today, I'm kind
24:56
of curious, yeah, yeah, because we were looking tracking on Ether opening
25:00
day compared to what is active inflows on Bitcoin. So this is just you
25:06
know, the typical Peter Schiff tweet, which hey, we love Pete.
25:10
You've got to have the alternative side of things. Eric balshunaz hits up right
25:14
here says new ethtfs will not be available to purchase on Vanguard. Not exactly
25:18
a shocker given their bitcoin ETFs BAM, but confirmed nonetheless not a surprise on
25:23
Vanguard, even though they got their new CEO. I kind of thought we
25:26
might see a little bit of a shift there. But this is interesting that
25:30
Vanguard has opted out of this crypto craze. When it comes to Wall Street
25:34
getting so active within the space, it's you know because eventually you're going to
25:38
get there with almost every fund on the street dealing with whether it is what
25:45
we're going to see on mixed bag funds. And we've seen some that now
25:48
are looking at mixed bag where we'll see bitcoin ethereum and even Solana playing a
25:52
role on this. So I think it's just a matter of time where we
25:56
see a lot of these really kind of come in. Here's another clip that
26:00
is talking about that very thing, and that is how alt coins are coming
26:03
to Wall Street. Take a look. Okay, all right, so this
26:10
is a different clip. All right, so we're gonna go to all right,
26:12
this is Kramer. All right, let's take a look at that one
26:15
as we're gonna look for these spot ether and ts to start to send me.
26:18
I know, remember Larry Fak was here saying, look, you have
26:22
people on it. I think that I've heard my first This Chevron decision,
26:26
this people decision took away a lot of the power of agencies. I heard
26:30
that invoked saying look because the SEC is a little challenged here, because Chevron
26:36
says the agencies don't have much power. Obviously we knew that Gary Gensler was
26:41
not a big fan, but it doesn't matter, it's been overridden, and
26:45
the fact that Ether's selling WAFT is just a testament to how much it had
26:49
been did up. Not really agency. All right, So typical Kramer.
26:56
We'll see what the alternative Kramer is playing. And again remember this is a
27:00
typical of Kramer on all of crypto, usually in the early going, right
27:04
when you know, things start heating up, he is the anti and then
27:07
all of a sudden it's the greatest thing, you know, that's ever hit
27:11
Wall Street. All right, So now we have a clip on of Pampeleano
27:15
talking about all coins coming into Wall Street. Take a look. What I
27:18
do think is interesting about the ethereum ETF approval, and probably the thing I've
27:22
taken away the most is less about ethereum and more about the rest of the
27:25
market. What this signals to me is that all of the all coins are
27:27
going to come to Wall Street. It may take a while, there may
27:30
need to be some regulatory clarity, they may get treated a certain way,
27:33
but these things are going to come to Wall Street. And so what went
27:34
from a zero to one? You know, is it going to be bitcoin?
27:37
Is it not? Is now going to be a crypto industry? And
27:40
the reason why that becomes interesting is because people who have this portfolio model or
27:44
portfolio approach are going to start to apply that to all of crypto. That
27:49
is true, we will see more and more strategies coming in from sophisticated investors
27:56
moving into the space. We've already seen this even in our own demographic of
28:00
our channel makeup, is that we're seeing a lot more sophisticated investors that are
28:03
following the channel. We're seeing a lot more very in my opinion, at
28:08
least very interesting questions that come in on DMS and just a communication on our
28:12
diamond circle. I think we're getting into a phase where this could start to
28:18
shift the dynamic on Wall Street meaning very positive. Much like if you think
28:22
about how tech stocks really started in the early two thousands to re kind of
28:27
reform the function of what was at that time mostly energy stocks. Could this
28:33
be the time for crypto coming into all this. I want to get over
28:37
to a couple of clips here, Actually about one more clip here, Yeah,
28:40
this is one more clip on Pompiana talking about Solana. Take a look
28:44
what is the pomp family going to do as it relates to all of this.
28:48
I'm highly biased. I sold all the theorem that I owned. Last
28:52
year, I bought Solana to performed, and so now I thought a Solona
28:56
maximalist. No, it's the second biggest position. And really the thought process
29:00
is the Bitcoin position that we own we're going to continue to hold. But
29:03
there is an entire other universe there, and so the thought process being you
29:07
want to be in the asset that is cheaper, faster and likely going to
29:11
receive more flows. And if you go when you look at dex volume,
29:15
right, decentralized exchanges on Slana is actually eating into the market share of on
29:18
ethereum, and so we just think there's a lot more momentum, it's a
29:21
smaller market capasset and likely to perform. All right, So what you can
29:25
see here is there, like all investments, there's always a play that goes
29:30
in a different angle. You know. Obviously with Ethereum, with Anthony and
29:34
Pampliano, he positioned out of it way way ahead of all of this reposition
29:40
into assets like Solana. Okay, I get that because many people will look
29:44
at repositioning in the market, especially in a bear market. Remember a year
29:48
ago when he sold his ethereum, that was pretty much a bear market,
29:51
and you could say, all right, which one is going to maybe earn
29:53
me a better position over long term. And I think those are common,
29:57
you know, decisions that a lot of investm make of rebalancing portfolios. So
30:02
it's a common scenario that plays out. It's a lot of floor came in
30:04
with this breaking another nine hundred billion asset manager as this is, of course,
30:08
as Hamilton Lane now becomes first asset managers to launch a fund on Salona
30:12
box chain. And I think the reason this is important to note is that
30:18
we're seeing a mass of traditional and old school financial institutions starting to make the
30:26
shift. And I think, you know, with Fink and Blackrock, they
30:30
themselves have I think already kind of set the tone in Wall Street saying this
30:33
is the way it's going to be, so get ready, this is what
30:36
we're going to deal with real world assets and token is securities. So another
30:40
one, and then you've got a couple other things coming in. Mount Gox
30:45
of course continuing to move Bitcoin sends about three hundred and forty million over two
30:48
bitstamp coming in. So whether or not we continue to see some pressure because
30:53
remember bitcoin has been kind of a little bit sideways just over the last couple
30:56
of days, but a nice run up over the last week. And that's
31:00
the question right now is can we break that seventy k mark with the pressure
31:04
coming in from ethereum. I think that is the real question here. And
31:08
it also may be one of those times in July and August where we start
31:12
to see a little bit out sideways action and then look for fall run ups.
31:15
So don't be surprised if if we get that for sure, Malcox.
31:21
You can kind of see some of the activity over on Arkham right here,
31:22
five point nine bill setting in right there, And I think this is one
31:29
to look at. This is a survey that was done here recently. This
31:33
is thirty five hundred adults and as primarily younger people, and the idea was
31:40
to really see if there is a huge pressure for especially in future investments,
31:47
to go the direction of crypto. And of course right here you see fourteen
31:49
percent owning bitcoin, primarily young men. This of course physical conservative and socially
31:56
liable. I would say that kind of aligns, but I'd love to see
32:00
more of a detailed research. I mean, we see a lot of it
32:04
in our data, you know, on the MSI when we look at what's
32:07
happening within the market, but again our data is skewed because we're looking specifically
32:12
at crypto individuals. I'm curious to see what the interest level is of young
32:17
investors that maybe have never gone into crypto, because that's you know, there's
32:21
been some reports here recently over last year that gave us a lot of that
32:24
data, but we haven't seen anything midyear, and I think that's something that
32:29
we should be looking for because that's that could really play into what we may
32:34
see into a bull run in twenty twenty five, if that's where the new
32:37
investors would come from. So a lot of things happening there. Just as
32:42
a reminder hit that right there, we're going. We're now over eight oh
32:45
six right there, so we should be on our track to hit the four
32:49
to fifty mark. We're trying to go in, So make sure and subscribe
32:52
over into the channel. Last couple of things we'll get to and then I'll
32:55
try to get some questions. And I wanted to take a look real quick
33:00
here at uh yeah, okay, we're going to go to the poll real
33:04
quick. Let's go to that. Let's go that all right, eighty four
33:07
percent okay, wait a minute, this doesn't make case, all right,
33:10
So so eighty four percent saying all time high and what was the number on
33:15
the last poll? Wasn't it like eth would not meet the early phase of
33:21
success in the ETF Okay? So well good, then then it's a it's
33:25
a big e thought. How many put that poll back up? I want
33:28
to see how many people have voted? What was like eight hundred, no,
33:31
five hundred Okay, interesting, h eighty four percent. That's a pretty
33:36
strong number. Well, if you're thinking about strong numbers, then you have
33:40
to look at the adoption things that are going to happen around ethereum and what
33:45
could that be. Well, many of the industries that have been looking at
33:49
blockchain in the past have been, i would say more IP oriented. Toyota
33:54
is doing some interesting things here how to introduce mobility into the blockchain and this
34:00
this is pretty much all ethereum, and this essentially is looking at how a
34:05
manufacturing powerhouse like Toyota can start to integrate into what they call mobility. Cars
34:13
are becoming public entity, so mobility two point zero, mobility three point zero,
34:16
distribution of digitized mobility related rights. I'm not sure if they're thinking ride
34:22
shares and things like what Elon is talking about with Robotaxi. But the fact
34:27
that we're starting to see reports and a lot more research coming in from these
34:31
companies like Toyota jumping into They call it an MOA, which is the mobility
34:37
oriented account based on mainstream account abstraction and their new standard that they're proposing.
34:44
In Ethereum, we're exploring how to redesign or to design MOA, so mobility
34:50
oriented accounts. So we're proposing designing M based on ERC forty three thirty seven.
34:54
This is Ethereum, And of course this is the point when you have
35:00
manufacturer starting to go in that direction, interesting stuff with because you're most likely
35:06
going to see a lot more manufacturers follow suit. You're probably going to see
35:08
a lot of other manufacturing in other industries, not just carmakers, but industrial
35:14
supplies, all sorts of things that we could see, especially in something that
35:20
requires the ability to track all this data and also the interaction with users,
35:24
because that's where the blockchain comes into play. And Ethereum, of course is
35:29
the winning blockchain when it comes to that, so pretty powerful stuff for sure.
35:34
One of the note right here is that don't think that we're resting on
35:37
the crypto regulation, because that's not true. What's happening right now in DC
35:43
as we're talking about all this stuff is that here's Ron Hammen coming over from
35:45
the Blockchain Association talking about that there's a bill coming in to vote tonight.
35:51
It should pass. So this one is the Financial Technology Protection Act by Zach
35:55
Nunn. And of course this is a bipartisan bill, has passed the House
35:59
twice before. We're under Ted Bunn. And also this is all flying under
36:02
Senator Jill Wren, which is very pro crypto. So good point here is
36:07
there's still positive movement going forward. We will start to have more of the
36:12
blockchain associations on in the coming weeks, mainly so we can start to figure
36:16
out what the new presidential candidate's position is. Because this White House led under
36:22
Biden has been we you know, everybody kind of knows the position of what
36:24
they're theirs has been. That may not necessarily be the case under Harris.
36:29
So we'll see how this plays out with Blockchain Association and others coming into it.
36:35
All right, did you guys put up another poll? Man? We
36:37
are poll happy today. All right, let's take a look at the back
36:38
of this next poll, not yet, all right, they're running it,
36:43
okay, all right, Well let's get to a couple of questions and get
36:46
into the charts as well. I'll pull up the chart real quick and get
36:51
into that. By the way, if you guys are are everybody's been asking
36:54
me about this, and this is the indicator that we're using or we'll be
36:58
using for our MSI. It is literally I'm thinking days away from launching,
37:04
but it may actually launch today. Right now, we're trending up on bitcoin,
37:07
still with positive holding at sixty five nine, but still on a positive
37:10
sentiment. And this is something that is a custom indicator that is available to
37:16
all of our MSI members and also our Mastermind members, which is a very
37:21
tight group that has access directly to me. If you guys are interested in
37:23
that, check out the diamond circle. That's where it all starts. Ethereum
37:28
trading right now thirty four holding sideways right now, I want to check on
37:31
this is the one thing that is a little concerning on Ethereum is that volume
37:36
sentiment is dipping slightly. However, the overall trade sentiment right now holding pretty
37:40
high, which could indicate a move. So we'll be watching this one right
37:45
now. Money flow coming up a little bit. There are some things you
37:47
can tie into this indicator as well as including mac D squeeze momentum, some
37:53
other things. If you're a charter, it's available for you. Let's go
37:59
into some of the questions. We'll go into some of the questions and then
38:04
we get okay, sorry, guys, we got one more thing I want
38:06
to hit on, and then we'll head over to the questions real quick.
38:09
I think we had an e NS topic, did we? Yeah? Right?
38:15
Oh? Okay, all right, Oh, there was one thing I
38:17
did want to hit on right here, and that is NS and I think
38:23
I can pull it up because we're tracking it. Let me pull it up
38:27
here. Le'll just bring it in real quick and n S. All right,
38:34
Let's look at coinbase because you can grab it there. All right.
38:37
So there's a spike right there. Let's wait for that to paint in.
38:40
This one is not quite moving yet. Money flow is actually declining though a
38:46
couple of things right now. Trade MSI is softening on this. This may
38:50
be the top on this one. Let me look here a little closer.
38:53
Where are we holding it at twenty nine? It's maybe waking out right now
38:57
for the day. I don't know if this is going to move much more,
39:00
all right. A couple of other things you guys wanted to hit on
39:01
in terms of questions Eth will send about. We'll send in about a month.
39:06
That may be. That may be a good timing there, Mike,
39:09
a month thirty days in, Yeah, it could be. I mean with
39:13
with some of the things, I think we'll see and remember a lot of
39:15
the events that we start to see in the fall. That's the only concern
39:19
I would say there is sometimes you know, you get that pr thunder that
39:24
gets stolen by some of the bigger chains. Avalanche Solana, of course they're
39:29
holding their stuff. Ripple's going to be going off here in Miami in the
39:34
fall as well. Sweaty says, is UNIEWAP going to be affected in this
39:37
positive way by eth ETF? I mean some of the projects, maybe,
39:43
I would say. David Cracuss says, still haven't settled the ETF buys.
39:46
Okay, that's true. That's true. Retail should push the price, but
39:52
macro conditions need stabilized first. So Solsan says, I think something that everybody's
39:57
saying, and that is right, now we're still under pressure. Okay,
40:00
there's still a lot of indicators that still kind of point to the issue that
40:04
we still are in a recession. And yes, we are starting to see
40:08
some correction on central banks starting to ease off with rate cuts. Not here
40:14
in the US yet, even though I think that's coming from Chair Powell.
40:16
We'll see Pompeiano is crazy. Okay, alts don't need to be traded on
40:22
Wall Street. I don't think they do need to be traded on Wall Street.
40:24
The idea here is if some of these alts get into these funds,
40:30
that it's going to create curiosity. And I think that's the question. Can
40:36
you create curiosity on Wall Street with an entire alternative ecosystem from exchanges to DeFi,
40:45
et cetera that could generate interest in decentralized finance. I think that's where
40:51
you have to come in, because remember, you need a little bit of
40:52
mainstream juice to be able to start to push people that way. Listen.
40:57
That's how I got into crypto was coming off of main stret stream, seeing
41:00
a little bit of pushback and saying, well, if they're pushing back,
41:02
what are they afraid of? And I think that was the one of the
41:06
big things that kind of pushed me into crypto for the very first time.
41:09
Janic says, I voted no at h but I believe twenty k ethan twenty
41:14
twenty five. Whoo, all right, that's a big one. I like
41:16
that. Twenty twenty five, etc. Will be ten k eth will be
41:22
ten k by November sixth, you like that right before them the election?
41:30
Okay, maybe, I mean that's that's I'm not going to agree with that
41:32
one. I think it's probably gonna be a little bit later. Love this
41:36
eath should hit fifty five hundred this year. That's a little bit more in
41:38
the framework of what I would look at. You know, again, this
41:42
is just looking at trends cycles The key here, guys. Again, I
41:46
cannot stress this enough. You're going to see a rate cut most likely.
41:51
The question is when that happens. If it falls later in the year,
41:54
then you're going to see some push I think on especially alternative assets, maybe
42:00
into Q one, so it may not happen in the end of twenty twenty
42:04
four and push into twenty twenty five. Let's so let's see here. Matt
42:08
says eight hitting all time highs not great is not great gains, but yes,
42:13
that's true. It's not great from here. But remember a lot of
42:15
people have been in Ethereum from other points in time. If you go back
42:22
and just take a look at it's most recent position right there. Yeah,
42:28
I mean, look at the run up back here. This was in January.
42:30
Let's take a look at where you'd be if you were back on that
42:32
run up date. Holding it right now, nice fifty six percent. Still
42:37
a good solid move on an asset that is very solid itself. So is
42:42
there any stock that's doing that for you that you would say, because I
42:45
would consider Ethereum as quality as any s and P five hundred in my opinion.
42:50
Of course, that's me obviously, very per pro crypto. A key
42:52
the dream says no one. I'm really talking about Fidelity now offering light coin
42:57
with Thereum and bitcoin. You know of the fact that they're doing it,
43:00
and we talked to them every once in a while, we talked to the
43:05
digital team over there. I love the fact that you know, with Fidelity,
43:09
this is something that many people I think will still maybe question because if
43:14
you're doing direct that you can get if they're an ampic cooin available in Fidelity
43:16
right now. Can't move it out. But a lot of people that are
43:20
investing in those kind of platforms probably not even interested in moving into you know,
43:23
self costing or any of those kinds of things. So but you're right,
43:28
like coin available, Ethan is here to stay. We got a lot,
43:31
Paul. Do you see hbar Stellar and Algoran getting an ETF? Interesting
43:37
that you ask that question, road Rage. Here's why because we had Matce
43:42
Harmon in an interview this week. We're gonna be dropping that video. This
43:45
is the one of the co founders of Hadera Hbar, and they had a
43:50
lot of interesting things to say, including what might look like down the first
43:54
and they actually broke some pretty interesting news around just security of crypto. You
44:00
guys should watch that when we drop. I don't know if we're going to
44:02
drop it today or tomorrow, but we are going to be dropping an h
44:06
Bar video this week, so be on the lookout for that. What about
44:09
avax ETF You know, well, you know, if you if you read
44:13
between the Tea Leaves and you listen to John wu the president of Avlabs,
44:19
he's been on record in in CNBC studios talking about that very point is that
44:24
why not, you know, why not? Avalanche? So Avalanche is very
44:28
strong, also starting to recover a little bit. Let's take a look at
44:30
Avalanche right now, nice little move here over the last little bit, holding
44:37
pretty solid on three of the four sentiments bars that we're looking at right there.
44:42
I'll zoom in on that for you guys, holding in right now net
44:45
volume centema, That's what I'm always looking at right here versus trade sentiment.
44:50
This one's starting to break over. We could see another move upwards, but
44:53
this right here is obviously when we're seeing the downtrend on these two trading days
44:58
here with with Avalanche coming back into the range of twenty nine, so holding
45:04
that position, what was that nice gain coming off that bottom. I'll go
45:07
from the wig and even to the right there, training thirty four percent almost
45:13
in two weeks. Not bad? All right, good stuff? What else
45:16
do we have here? David Kracat says bitcoin or is for being hoddled on
45:21
centralized exchange and not for use. I like that, Okay, fine,
45:25
no problem there. Pompiano a bitcoin and a soul MAXI why why do they
45:30
have him on ethday? That's kind of a question. Our team asked,
45:34
why that should have been. You know, where's a metallic in all this?
45:38
I'm sure, why have we seen a metallic interview yet? On that
45:44
ETHTF premium, will Steak will follow. I agree with that. There's people
45:47
to already talking about that. We dropped a video the other day as we
45:52
start to see things potentially positioning and transitioning out of DC when it comes to
45:59
the sea seeing. What I'm talking about is Gensler. We did a whole
46:00
video on this of potentially Ganessler stepping away. If Gansler steps away, pressure
46:07
gets kind of intriguing, and could we see Hester Pearce walk in as the
46:12
new chair And if that is so, she's been on record talking about staking
46:15
with Ethereum. So very interesting times ahead for sure. A lot of resignations
46:22
being thrown out there. This week. We just had Cheetle, you know,
46:24
cigret service resignation today, the Gessler resignation coming in. What's going on
46:29
in DC? What's going on, guys? What is up with that soul
46:32
require L two's It remains to be seeing how architectural decisions play out in long
46:37
term complex stuff like state Blowers notes. One thing I will say, Splutter
46:45
is that you guys have the best names. I tell you there's no other
46:49
channel, no other community out there that has such a vibrant YouTube community.
46:53
Then you guys. But the question and the answer there is this when you
46:58
look at early age technology, and this has happened so many times, whether
47:02
you go back into the evolution of touch screen, the evolution of Internet,
47:06
evolution of mobile social, all those were technological shifts. And I still think
47:12
that we're in that phase right now with crypto. And it's likely either there
47:19
is a chain that either has not made its complete evolution or we're going to
47:24
see a drill down. You know, whether it is I won't say you
47:30
know that you'd see mergers and things, but you could see a drill down
47:34
into one, two, three, maybe four blockchains start to become the powerhouses,
47:38
much like the mag seven. And when you think about Silicon Valley,
47:42
as we start to see those powerhouses come out, because as the money starts
47:45
to move in to these projects, but also into the investment side, that's
47:49
when things start changing pretty quickly, especially in mass adoption curves. So,
47:52
Paul, what happened to the portfolio did a couple of years ago? Updates?
47:57
Man, we are killing it? Of course, that's right, Jared,
48:00
I haven't seen you in the comments for a long time. We should
48:01
do another portfolio video just for you. What about memes? Shall the market
48:07
be cleanse or they came? They come to stay? I think memes are
48:12
here to stay, man. I think there's just too many opportunities, too
48:15
many brands, too many influencers, too many personalities. It just is part
48:22
of It's just part of crypto. I think it will always be part of
48:25
crypto. It just is. And it's much like social you know, there's
48:29
certain things you just cannot remove from a technology. I think memes are one
48:34
eighth trading on Charles swap yep. I wonder if US ETF will help promote
48:38
the Canadian one. You never know, you're talking about the Canadian ETF.
48:44
I'm thinking, I'm assuming, I don't know if we're going to see a
48:45
lot of movement there on the Canadian ETFs, you know, from what's happening
48:51
here in the US. This is something I argue all the time on the
48:53
show here because I get a lot of asset managers that talk to me about
48:58
this, and they really kind of center in on the US as being the
49:01
dominant marketplace for all of these things, and this is where you know the
49:06
money is made. So I get that. I understand that. I don't
49:08
know that we'll see too much and even though I do think Asia will come
49:13
in to play. Now, we've got the poll ready, So we got
49:15
our third poll for today. What do we have on this one? Do
49:20
you know a family or friend that would now consider investing in an ETHTF in
49:25
a brokerage account. Everybody says no, They're like, I'm not going to
49:31
the brokerages. Okay, all right, Well that's thirty one percent of you
49:34
are saying, yes, here's something guys. I just want you to think
49:37
about this for a second, just ponder this for a moment. There's a
49:40
lot of people out there right now, probably watching this show for the very
49:44
first time, and you're thinking, what the hell is this guy talking about?
49:49
You know, what is all this crypto stuff? The point is is
49:51
these people are curious, they're starting to understand that, oh there might be
49:55
something here, and you, people that under stand crypto, you should be
50:01
embracing those people. You should be helping foster their growth, helping foster their
50:07
knowledge, their education. So think about it that way. And I know
50:09
you don't tell family members nobody would ever tell anybody to go do that.
50:14
You should always tell go educate yourselves, learn a little bit more about this
50:17
one, learn a little bit more about that one, and then let yourself
50:21
kind of go down the rabbit hole. That's how you get people starting to
50:24
migrate into what's happening in crypto. And I think that's the most important thing,
50:30
especially for young individuals, because they have the opportunity to be able to
50:35
kind of shift their future. And those are the people under thirty under thirty
50:38
five. They have the chance right now to completely shift away from what has
50:44
been a systematized investment past into a decentralized investment future that could change, I
50:52
think globally. So you got to think about it that way. Don't think
50:55
of just now. They're just not ready, and I don't want to bother
50:59
them with that. People are open to change if they're willing to learn.
51:04
The key here is are they interesting in education. If they are, then
51:07
you'll get there. Keep doing the longer lives, so we have a chance
51:10
to get in here. I like it, okay, and Jonathan, we'll
51:13
do We'll try to do some more like this. The guys wanted to go
51:15
a little bit longer today, just to take a look at some things,
51:19
so you know, we're going to try it. We try to do it
51:22
even though the market's a little bit red right now. Arbitrum the only one
51:24
that's moving. Look at that Helium on the move right now. Nice job,
51:30
Helium. That's a good one too. And of course this is another
51:34
Salona blockchain project, Helum Mobile, another one we've been watching for a while.
51:38
I'm waiting for it to have a good breakout and rally will take a
51:42
couple of weeks hopefully. I agree with that one, Juliana. See you
51:45
guys. By the way, we want more women in the comments. We
51:50
love to see the females because they temper. Hopefully they temper the comments a
51:54
little bit when people are gentlemen in the comments. You know, you always
51:59
like to be gentlemen in the comments. Terry My Donald comes in and says,
52:01
if all coin season beginning, it ain't good. Sorry, everything's on
52:07
red right now. Hey listen, remember it moves in cycles, all right.
52:12
You get a run, it tempers, you get another run, a
52:15
tempers a couple of days, weeks, and then bam, eventually you see
52:20
those parabolic moves. I don't think we're anywhere near those parabolic times just yet,
52:23
because a lot has got to happen. You've got interest rates still on
52:28
the pressure. CPI has still got to move down where you've got an election
52:31
coming in, you've got a repositioning of the global economy, and you got
52:36
all these situations happening with you know, global conflicts. This is not the
52:39
time you're going to see these kind of moves unless we see a black swan.
52:44
If we see a black swan one way on positive or negative, those
52:49
are the ones I'm always concerned about because those are in many cases are unpredictable.
52:53
And listen, that hurts all markets for sure. All right, we're
52:57
gonna get out of here. If you guys are not part of the Diamond
53:00
Circle, make sure and get in right now. It is the one place
53:04
that you get additional content from me. We do custom content over there.
53:08
We do chart breakdowns, all sorts of additional stuff that does not make it
53:12
here on YouTube. So join the Diamond Circle. We've got a community.
53:15
You can chat with a lot of people. I'm in there on those chats,
53:17
going back and forth with a lot of people that come in both on
53:22
our Mastermind group. So we'll leave a link down below, and of course
53:25
if you're not following me on X just do that. It's at Paul Baron.
53:29
Catch you next time right here on tech bath