BlackRock Bitcoin ETF News Just Got Way Worse…?

As the Bitcoin price pushes higher we're Getting troubling news out of Black Rock The SEC the almost dozen spot Bitcoin ETFs and the series of closed door Meetings that the SEC is holding with All spot Bitcoin ETF applicants and These meetings are happening almost Daily as of two days ago being reported By Fox Business the SEC is having as What's described as a rare joint Conference call with prospective spot BTC ETF filers and double scoop sources That were there on the call tell me it Was to do with making sure everyone is Doing cash creates the SEC asked issuers To remove all hints of in-kind Redemptions from their filings which of Course is the latest update today we see All these creation types switching from In kind to either cash or in kind or Cash cash is now an option and to Understand what that means could you Dumb it down for a simple little Moon Lambo like me it means that the issuers Like Black Rock have to convert their Bitcoin to cash before trading shares of The ETF in other words they can't use Bitcoin to purchase or redeem the shares The SEC does not currently allow BDS to Trade in Bitcoin so they're saying that ETFs now or current rules now do not Allow shares in the fund to be bought With Bitcoin only cash and specifically Who does this affect first off I'm going

To like the video I appreciate the Latest information but while bitwise was The first to bend the knee and switch Their creation type to cash right Bitwise is the most interesting man in The world campaign but then Black Rock Aran vest and Galaxy digitals Invesco Quickly followed they are now pure cash Creation and then everybody else Switched to now in kind or cash and why Would they do this why would Black Rock Let's say why would Black Rock want to Make that switch well everyone is Surprised that black rock is adjusting Their S1 rapidly and aggressively in Response to the sec's feedback but let Me remind you of black Rock's track Record they have 576 ETF applications And all but one approval that's a 99.8% Approval rating demonstrating that black Rock understands that if you want Approval from the SEC you play ball and The ones switching to cash want that Approval and I want to be very clear With you on what this cash Redemption Model means and is this still bullish Because the huge benefit of all these Bitcoin spot ETFs was that they actually Have to hold the Bitcoin a cash creation Model is one where the authorized Participant deposits cash in the ETF Equivalent to the net asset value of the Creation units to be created meaning That the fund then uses this cash that's

Deposited to purchase the underlying Assets such as Bitcoin so the Bitcoin Still gets bought you just have to use Cash to get it but for in-kind Creations The participant deposits a basket of Securities matching the composition and Waiting of the etf's portfolio allowing The fund to issue creation units to the Investor without immediately selling the Securities for cash and issuers like Black Rock like AR invest typically Prefer in kind Creations because they're More seamless this model in kind Creations is seen as more efficient for ETFs as it avoids bid SL ask spreads and Broker commissions from selling the Basket to raise cash for issuing shares However cash creation provides more Flexibility for fund participants so People buying into the ETF you may Prefer this cash is often easier so Black Rock bitwise all of these Companies will still have to hold the Bitcoin I don't know who needs to hear This but cash creation does not mean the Fund won't hold spot Bitcoin or that a Bitcoin ETF will be a fractional Reserve Product even in cash create redeem the Funds will hold spot Bitcoin absolutely The difference is that the fund issuers Need to buy the Bitcoin not the aps that Will likely create more performance Variant among issuers where those with Access to the best trading Tech and

Liquidity will have better performing Funds that's probably good for Black Rock and so many of you were asking me About blast ethereum L2 protocol blast Sets new tvl record above 900 million They don't even have a token live yet The main net is coming eventually now This is not sponsored at all it is an L2 Though with Native yield which is is one Of their secret sauces and l2s are a Trend this cycle and I will always keep You updated on the trends also they do Have some of the people that were behind Blur which essentially almost destroyed Open Sea how popular blur became some of Them are now Building blast but the Question is is blast a Ponzi blast is it A Ponzi let's take a look so it's the Most hyped L2 in the market right now With over 150k on Twitter and over half A billion dollars in tvl holy I Like this 90-second breakdown the good And the bad from Cameron the nft so why Should we care about this and is there Something more Sinister at play it's the First eth L2 to offer native yield for Both eth and stable coins the yield on Blast is derived from eth staking and Rwa protocols and an interest rate of 4% For eth and 5% for stable coins but I Want to look at this from a different Perspective blur ended season 2 and Announced season 3 alongside blast Pac-Man the founder of blur is also

Building blast blur was in a sticky Situation it had some pretty bad Market Sentiment blur needed a way out they Couldn't just keep giving out token cuz That's a sure ride to dump city so Pac-Man hatches a plan the perfect plan A way to steady the coin to keep the Incentive cycle rolling and to keep People competing for those tasty tasty Blow points and on top of that to keep Major investors happy more on that later And it has to make sense to blur in the Context of the product offering so what Does he do he identifies an issue in the Space devises a PL to solve that issue Integrate it in with blur it keeps blur Users happy and gross blast at the same Damn time but this product is not built Yet there's no test net transactions Bridge or roll up and there's no way to Get your money back if you send it there Unless a three out of five person multi Deploys a new contract with the Functional withdraw and then sends the Funds across to that contract jeez $500 Million locked up for at least 3 months And I guarantee hold me to this there Will be a marketing scheme to keep People staking past 3 months I promise You but let's just waddle back for a Moment to keeping investors happy this Decision has not made investors happy as You can see from this tweet from a Member of Paradigm the TDI is that while

They back Pac-Man 100% they do not agree With what they've done and feel it That's a poor precedent for others to do The same and I wholeheartedly agree this Is not healthy it locks up an enormous Amount of liquidity for an extended Period of time and it sets a precedent That companies can come in and do the Exact same thing without having any kind Of product built just because the Marketing is perfect fair play this is a Weird place to be in for the team Because they have an immense amount of Pressure to build the perfect product They cannot screw up here because there Is so much on the line not only for Blast but for blur so what's my point Here my point is Pac-Man and Friends Have created an almost perfect plan that Covers almost every single base from the Marketing to the narrative to the Token Everything seems like it's falling into Place the chips are on the table big Time people are waiting and now the easy Part all he has to do is execute so this Could fail this could succeed I think It's going to get hyped up either way Click subscribe I'll keep you updated we Also have Solana still doing well people Are asking why Solana surge continues Now flipping binance's BNB in market cap If you're asking why it's because of the Memes meme coin Mania helps push Solana D5 volume over ethereum for the first

Time we also have ai coins doing very Well AIT one I'm an early investor in The world's first AI data infrastructure Providing web3 AI Solutions and creating Millions of jobs with the train to earn Model so they had a very successful Launch and by the way always be careful Just understand that volatility Especially on day one week one expect Volatility but it's just cool to see Them progressing and partners actual Users signing on to use the tech as Tweeted by by volu Mint congrats to the AIT team with a successful launch in the Age of AI and Decentralization volum mint and AIT will Join forces to stay on the Forefront of AI by sharing data and knowledge this Partnership paves the way for Collaboration on multiple levels and Also utilizes our data annotation Platform for various purposes including Data analytics benefiting both Communities so very early days as this Project implements I'll do my best to Keep you updated like always see you Tomorrow


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