Latest / The Paul Barron Crypto Show / Ethereum ETF Officially Approved | When Launch Date?

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Ethereum ETF Officially Approved | When Launch Date? · The Paul Barron Crypto Show

• 0:07
  All right, so welcome into the live stream. We're gonna be breaking down,
• 0:09
  of course, the big news from last night, and that is the
• 0:12
  eth ETF approval. What could be next are what's happening out there in the
• 0:17
  market right now? Why isn't coming off the hook? We'll break it all
• 0:20
  down for you, guys. You're gonna love it. My name is Paul
• 0:22
  Barre. Welcome back in the tech path. Let's just jump into the topic
• 0:26
  that, of course everybody's talking about right now, and that is the SEC
• 0:29
  approved eight ethereum ETFs. There you have at grayscale, bitwise, I Shares,
• 0:34
  Van k Are twenty one, all the names that we typically know from
• 0:37
  the bitcoin ETFs. Also jumping into the eth ETF game of course Fidelity and
• 0:44
  Franklin, Templeton coming in there as well. A lot of good names in
• 0:48
  here because of the interest in ethereum. And what I mean by that is
• 0:52
  we've talked about this and had them on the show many times. If you
• 0:55
  look at not only the Fidelity team, the Franklin team, the Van k
• 1:00
  team, all I think have a pretty good edge on where this might be
• 1:03
  going. So the key here is they're going to be pitching this to their
• 1:07
  clients. So that's the thing that will help it grow other things out there.
• 1:11
  Just in black Rocks Spot ETF has been listened on the ETCC, So
• 1:15
  that's next step. This will be called E T h A. I like
• 1:19
  that ETHA. That's a good one. Further into this, here's Metalama on
• 1:23
  James Murphy coming in SEC approval of applicants by various exchanges to list ETFs,
• 1:30
  constitute of declaration by the SEC that eth is a commodity. That of course
• 1:36
  has been something that Metala and I talk about often, and the positioning that
• 1:41
  the SEC has had. I think all of this has leaned into what really
• 1:46
  has started from a regulatory standpoint. I think this has kind of moved so
• 1:49
  quickly. SAB one twenty one was probably the accelerant that created this. You
• 1:56
  then throw in a little trump, you know, magic, and then you've
• 1:59
  got all this happening in Congress, and now everybody kind of understands this is
• 2:04
  the next step in evolution for finance. So all of it somewhat expected out
• 2:08
  there. Further into this, I want to go into this tweet right here.
• 2:14
  This is James Seyffert. He was kind of hitting it saying, hey,
• 2:17
  guys, it's not happening. And then right after that, of course
• 2:21
  he was all right, boom, we're approved. So you know, zoom
• 2:23
  in on that, and you know, James he hit this. Actually James
• 2:27
  was on our show. I think this might have been the time in which
• 2:30
  he actually did call it. And let's go to that clip real quick.
• 2:32
  Let's let's take a look or what's your theory on how ethereum might make it
• 2:37
  into an ETF. So for ethereum lovers, you're not going to want to
• 2:39
  you're not going to like this answer. But we say active congress. Usually
• 2:43
  you say that like something like crazy needs to happen, but like you actually
• 2:46
  probably do need an active congress before in etherory m ETF is approves. Well,
• 2:51
  there you go it. James has hit it because he said we would
• 2:53
  need an Act of Congress. And what did we get? We got an
• 2:55
  Act of Congress to do it, And of course I think that was the
• 3:00
  trigger. Of course, we'll continue to see I think a lot of interesting
• 3:04
  moves around what may move strategically, of especially in reference to positioning the strength
• 3:12
  of this CTF, because I think that's the next real question I'm when I
• 3:15
  say this ETF, the group of ETFs, and that is how is it
• 3:19
  going to perform against the Bitcoin ETF? How will that play out? A
• 3:22
  lot of people are really looking at that. Now. There's one clip here
• 3:24
  from Jay Clayton who gets into why this might be a little bit different.
• 3:30
  Listen it. Gary Gensler and the SEC went kicking and screaming to allow the
• 3:36
  Bitcoin ETF and only did so because a judge effectively said you have to.
• 3:42
  This is different. So what is different this time is what is different this
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  time is there was a settled issue of whether the underlier bitcoin here, the
• 3:52
  underlier is ethereum was a security or not, or transactions at bitcoin were securities
• 3:57
  transactions. The SEC has not defer inatively said up till now, and they
• 4:01
  still haven't definitively said that underlying transactions and ethereum are not securities transactions. Is
• 4:10
  part of this because of what Congress just did this week to pass this first
• 4:13
  crypto bill and basically say it's going to be the CFTC that is overseeing all
• 4:17
  of this. Is this then putting another chip on the table saying wait a
• 4:20
  second, we want to claim our our legal framework for this progress development.
• 4:27
  Whatever you want to call it in the space was always going to be incremental.
• 4:30
  What did they do this week in Congress or over the last couple of
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  weeks, they made more clarity around custody and the cost of providing custody services
• 4:38
  for digital assets because they weren't happy with the way the SEC had done it.
• 4:42
  Now with this bill, they're saying, look, we want a path
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  for products likeum other digital assets to be able to trade like securities. So
• 4:51
  there you have other digital assets. And this also looms in on the SEC
• 4:57
  being so quiet about this. Here was Eleanor Taratt coming in from Fox Business.
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  There a little tidbit she received Commissioner Crenshaw is actually out on attorney ly
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  this was delegated the authority means the commission let staff approve the eth ETF on
• 5:12
  its behalf. So a very interesting move there by the SEC, I think
• 5:15
  in terms of this getting through. And remember, you know, zero statements
• 5:20
  from the SEC commissioners right now on the spot ETF, so silence definitely.
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  I agree with Nate Garussi. They're saying it speaks volumes going into this.
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  The key here is what's next step. Also, what happens after that?
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  We'll get into all of that. We're going to be dropping another video by
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  the way, that will break down a lot of the projects that we think
• 5:40
  could potentially flow into maybe what's next, but also a litany of new ETFs
• 5:46
  that most likely will hit the markets now that we've seen some clarity start to
• 5:50
  align very quickly. Here's analyst predicting that ETFs to launch by mid June.
• 5:58
  A couple of points they hit on here, guess is only one round of
• 6:00
  comments on the S ones. That's really what has to happen next, because
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  that would be the final approval, really the S one, So that's a
• 6:06
  big deal, certainly a possibility, so just a guess we'll see. This
• 6:11
  was coming in from Balshunis. And then of course expectations for the spot ETFs
• 6:16
  are high. Safer predicts they could track twenty percent of the spot by cooin
• 6:19
  etf flows. You know, Balshut is a little bit lighter. I'm actually
• 6:25
  a little bit stronger than that, but again I look at it from a
• 6:27
  digital asset standpoint, and people starting to understand the validity of what eth really
• 6:32
  brings to the market. Bitcoin ETFs have accumulated thirteen point three billion in net
• 6:38
  inflows capturing twenty percent would mean we'd see two point six billion in inflows.
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  Not bad for you know, an all coin that's coming out into an ETF
• 6:48
  world. So make sure and smash the like button if you guys like these
• 6:51
  kind of breakdowns. We'd love to get your feedback. Also, drop some
• 6:55
  comments over on the side. We'll try to get to some of those and
• 6:58
  I'll view the queue here and see what they got lined up. Don't forget
• 7:00
  to hit the poll over there. We'll see how that's playing out as well.
• 7:03
  And I want to get into a couple other things because this is important
• 7:08
  that because everybody's kind of wondering, you know, bitcoin retraced ETH has not
• 7:12
  really started to unhitch. Is there a pause here before the storm, because
• 7:15
  that's kind of what happened with the Bitcoin ETH or the Bitcoin ETF when we
• 7:20
  saw that launch. Here's just a little bit of a breakdown. Only the
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  nineteen b's were approved, so not the s ones. That's kind of the
• 7:27
  next layer, but most likely that you know, pretty much done. Approval
• 7:30
  was by the Division of Trading Markets delegated authority. We just talked about that
• 7:34
  they're trying to hide the vote because it's political That's another thing that I think
• 7:39
  is still playing out of this. And remember that we have a lot of
• 7:43
  components that are starting to slide into the FIT act. And we've done a
• 7:48
  whole slew of the FIT twenty one acts from Patrick mckenry and that team.
• 7:54
  I want you to go back and watch some of those because there's a lot
• 7:57
  of hidden gems in there that start to align and maybe the strategies and the
• 8:01
  potentials of this market, these markets, i should say, digital assets in
• 8:07
  general, and how this may play out, you know, in the financial
• 8:11
  architecture of the future here. So if you're brand new to crypto, you
• 8:16
  just joined at what I think is the most exciting time that we've ever seen.
• 8:20
  More exciting than you know, the eth conversion, more exciting than really
• 8:24
  when Bitcoin hit all time highs, more exciting than when we saw Meta really
• 8:28
  shift their focus. We are going to see a revolution. I think that
• 8:31
  nobody is really ready for just yet. A couple of the points here,
• 8:37
  when does the spot ethifts go live? Expect a little bit of a blood
• 8:41
  bath. There's some people looking at this similar to what happened with Gray Scale.
• 8:45
  Remember they launched with the bitcoin a little higher rates because fees are always
• 8:50
  a big deal. But they've accumulated almost nine billion worth of ETH before staking
• 8:54
  exists. These funds will be unlocked, so we'll see how that plays out.
• 9:00
  Little bit of a potential sell off there. Historical precedent with bitcoins suggest
• 9:03
  potential volatility after approval. Likelihood will see a pretty significant retracement, but get
• 9:09
  ready because that would be the next move up, and of course the awareness
• 9:13
  where all of this plays out. So I think a lot of people and
• 9:18
  i'd love to get you guys' feedback. Do you think that we're going to
• 9:20
  be in a position to receive that much of a retracement or is eth going
• 9:24
  to play out a completely different way because many people still look at it potentially
• 9:31
  as maybe a completely different alternative. Here's just just on the discount there from
• 9:37
  the Grayscale trust, just to give you an example of where this was trading
• 9:41
  in July of last year, just less than a year ago, less than
• 9:46
  a year ago, forty six percent on the discount versus where we're trading at
• 9:48
  right now obviously from the pump here now only negative about five and a half
• 9:54
  percent. So pretty crazy stuff, guys, because I think this is one
• 9:58
  of those things also that the potential of those firestorm bull markets because it starts
• 10:03
  to open up one mainstream investing, it also starts to open up projects to
• 10:09
  really understand that there's an opportunity and a new path in the biggest global financial
• 10:15
  system in the world, you know, and that is the United States.
• 10:18
  And what this might mean. This really starts to set the table i think,
• 10:22
  for the next generation of what we're going to see going after the market
• 10:26
  spot ETF makes Black Rock very eager to push things a little bit faster.
• 10:31
  So there's trending. There's a couple of coins here that they've kind of outlined
• 10:35
  that will get into some of the narratives around ethereum, and that is if
• 10:41
  you just think about the eth ecosystem, you're going to look at things like
• 10:43
  chain link, Ondo many others that are going to have a lot of upside.
• 10:48
  So keep an eye on those. We'll probably get you guys, well
• 10:50
  we probably we will get you videos on a lot of those narratives that are
• 10:56
  potentially hitched to ethereum, and especially in the layer twos, because that is
• 11:01
  something that I think we're going to continue to see a bunch of movement speaking
• 11:05
  of Layer twos. This is just the last seven days, so a little
• 11:09
  bit of a nice move from about forty billion up to around forty five billion,
• 11:15
  so another almost ten percent on the seven day But if you look at
• 11:18
  that over the thirty day period and then all the way out into ninety so
• 11:22
  you can kind of see the opportunity has not yet completely presented itself. A
• 11:28
  lot of upside going in here, for sure? What else do we have?
• 11:31
  All right, So here's a nice piece right here is Ethereum is the
• 11:37
  ethtf reel threat real analyscar predicting whether or not eth would flip Bitcoin. And
• 11:43
  this is one that we talk about, you know here in our own research
• 11:46
  team quite a bit. Is it the time? Could it happen? They're
• 11:50
  anticipating it could, but it's by the next having. That's still a weighs
• 11:54
  down the road if you think about that flipping before the next having. Wall
• 11:58
  Street gets this. It's an entire ecosystem with barring lending issuance to economic staking
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  yield. They understand this because it's what they do every day. Plenty of
• 12:05
  them to work with in terms of just kind of hanging in there in one
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  spot. Also, the layer two ecosystem not fully fledged that I think is
• 12:15
  going to continue to really start to accelerate. And then Bianco, this is
• 12:20
  Jim Bianco talking about this claim that e could work against bitcoin layer twos,
• 12:24
  which could, Yes, that could be the case now only because of the
• 12:28
  new positioning of how we're going to see digital assets move forward. This is
• 12:33
  another statement. Just as it's easier to hoddle in a regulated brokerage account than
• 12:37
  it is unchained. So that's the other thing that's going to enter in a
• 12:41
  lot of regular traditional you know and institutional capital, but also traditional investors that
• 12:48
  they're not ready for the kind of things that you I are accustomed to in
• 12:52
  blockchain. But think about this, this is usually the gateway drug, whether
• 12:58
  it's a you know, an easy, no risk ETF and then the next
• 13:03
  step is they move into an exchange, they start trading their own and then
• 13:05
  of course it's self custy. So all of those processes will happen, especially
• 13:11
  as digital assets become somewhat mainstream. This kind of hits it on the head
• 13:15
  right here. Ethereum is the new Internet, and if you think about it's
• 13:20
  freedom that is provided around what we've seen with the Internet. But there's something
• 13:24
  else here, and that is that the extension of opportunity here, whether it's
• 13:30
  L two's or what we'll see within an expanding web three world, gaming,
• 13:35
  digitalized or tokenized assets. Of course, we'll see all sorts of integrations,
• 13:39
  loyalty platforms, et cetera. This could really start to set things out.
• 13:43
  If you just look at the layer two ecosystem, you kind of see the
• 13:46
  potential of what this might look like in a very short time. And this
• 13:52
  is just the beginning. So if you look back in the beginning of the
• 13:56
  Internet and the pre two thousand era all if you can to go look at
• 14:00
  that, there was like a seven to eight trillion dollar industry in that era,
• 14:03
  which is in the late nineties, and the expansion that that grew to
• 14:07
  in a very short period of time. That's the kind of growth we could
• 14:11
  be experiencing, especially if you couple this with what's happening in AI and the
• 14:16
  interlinking that seems to be happening around blockchain projects as well. So there'll be
• 14:22
  a lot of that going on last week here, and I'll get to it
• 14:24
  because this gets into the next framework, and that is well, with all
• 14:28
  this tech and with all this regulatory thing, you still have to have an
• 14:33
  economy, you still have to have a global macro positioning to be able to
• 14:37
  succeed. And you know, asset managers now they don't foresee a recession within
• 14:43
  the next twelve months. That's a good signed. Seventy eight percent of asset
• 14:46
  managers currently say that a recession within the year is unlikely, and this is
• 14:50
  up from sixty five, so they're getting more confident. March, and that
• 14:54
  was recorded in March, the highest share of respondent since February. And then
• 14:58
  in November of twenty too, roughly ninety percent of portfolio managers anticipated a recession.
• 15:03
  So it's almost an about face over just a period of two to not
• 15:07
  even two years, so a pretty big pivot. And when you look at
• 15:11
  the pivot we're talking about, we are getting into what could be a very
• 15:16
  good position for how the global economy could be embracing all this new productivity and
• 15:22
  now regulatory clarity around the next twelfth sector of the financial system. We're gonna
• 15:30
  get into some questions. Make sure and smash the like button right now.
• 15:31
  We love to get your feedback. I want to go to the poll real
• 15:33
  quick and see what you guys think about this today, all right, So
• 15:39
  which token has the most ETF Wow, Solana is absolutely on fire. XRP
• 15:46
  was number two, So we had this is interesting because we we the video
• 15:50
  we just did. I don't know if is it up? Yeah, guys,
• 15:54
  the okay, so it's not up yet. We're gonna put a video
• 15:58
  up. You want to go watch it because it's a breakdown of those four
• 16:02
  projects that we just showed on the poll, but there's also another three or
• 16:07
  four projects that we include as well. There's going to be some prise,
• 16:11
  some surprises in there. So go watch that video. It's going to be
• 16:14
  a good one that breaks down what could be next and why. There's a
• 16:17
  lot of reasonings for each one of those. So but you guys were kind
• 16:21
  of in the same rink as us. We hit Solana as number one,
• 16:23
  all right, and we still like XRP XRP could be a while, you
• 16:27
  know, kind of a black corse here coming through as well. Let's get
• 16:30
  into some questions. Solana does have the network stability, but they have the
• 16:34
  narrative, you know, the narrative and the ecosystem, the potential for growth
• 16:40
  in all of the categories. There's just a lot there. There's just a
• 16:44
  lot there, very similar to an ETH in a way, you know,
• 16:45
  in terms of ecosystem strength. ETH still pretty quiet even after et and I
• 16:51
  think there's reasons for that. We'll probably won't see real ETH movement. Our
• 16:53
  anticipation right now, based on what we're seeing on the sentiment data, is
• 16:59
  looking like it's going to be sometime in June before we start to see some
• 17:03
  adjustments there. Anyone out there still believe in Cardano. I think there's a
• 17:07
  lot of Cardinal lovers out there still, even though they just don't get a
• 17:11
  lot of the press, and of course we don't cover them a lot here
• 17:14
  on the channel, but not necessarily for any reason. Something decentralize in proof
• 17:18
  of work. So I like go, why not like coin? That's a
• 17:21
  good one. That's that is a good one. Why not like one?
• 17:23
  Soul is the obvious choice for an next ETF. Nobody wants XRP. Wait,
• 17:27
  uh, it doesn't launch, Say no, it doesn't launch today?
• 17:32
  What else do we have? A Salona? Man? You guys are crazy
• 17:34
  on Solana a huge hype. XRP should be next, the only one with
• 17:37
  with some Claire agreed XRP like I said, it's a little bit of the
• 17:42
  dark horse because there's some options there with XRP that could really play into this
• 17:48
  this summer. Don't forget they're doing their stable coin launch. We'll see that
• 17:52
  this summer. It's coming in just around the corner a lot. Also,
• 17:55
  I think in terms of the connected community of what XRP could be revealing in
• 17:59
  am so watch that for sure. Next ETF is going to be a blend.
• 18:03
  That could be also the case. You know, Solana Avalanche would be
• 18:07
  a nice one. Bitcoin dominants clawing its way back up eth ETF big fat
• 18:12
  nothing Burger Nelson says, all right, mister Mark Nelson, there eight will
• 18:18
  never get approved. Yeah, I know, yeah, we saw that pulse
• 18:22
  Jane ETF. Okay, man, you guys are really going out there,
• 18:26
  all right. And Gary did say Solana is security XRP next on the ETF
• 18:30
  side, onto is great. I like all these comments. We love to
• 18:34
  get your feedback, guys. This is the cool thing about doing the live
• 18:37
  streams. We love to get your feedback, and it's it's a good thing
• 18:41
  because we get a chance to interact with the audience and it's also a good
• 18:45
  understanding of where your mindset is and sometimes for us it's it's good for us
• 18:52
  to understand where your direction is going because it helps us kind of guide some
• 18:55
  of the narrative of the shows and the editorial. So keep doing that.
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