Cathie Wood: Bitcoin & Ethereum Are About To Go Wild | Crypto News

What has changed is we are now talking To the major platforms so uh we call Them wirehouses so Morgan Stanley UBS uh Maril Lynch Wells Fargo although the Bitcoin ETFs are live and have Accumulated billions of dollars in Inflows in under 5 months they are in Deep due diligence like okay what is This we have to have a point of view now The vast majority of Wall Street has not Bought yet yet as the largest indexes And platforms have not listed them yet They actually have an index against Which they're going to be judged and That's an ETF right now Bitcoin is part Of how they're going to be graded and While the Bitcoin price has been Consolidating for months be prepared for What's next and while no major platform Has yet put any of us any of the spot B Coin ETFs on its platform yet uh we Think that's coming we can tell from the Kinds of questions they're asking on Altcoin daily you subscribe for one Video per day keeping you informed about Crypto and Kathy Wood at consensus Explains the heat is on so uh the heat Is on because this is a new asset class Bitcoin is a new asset class it's a Monetary system to be sure but it also Represents a new asset class And um what that means in our world uh Is that as a fiduciary someone looking After portfolios for people a fiduciary

Has to consider a new asset class Because of the low Correlation uh with other Assets in Terms of returns and risk uh and so if You add Bitcoin to uh an existing Portfolio if that is right and this is This is low correlation asset what that Means is over time rep returns per unit Of risk will go up uh so if one platform Has Bitcoin and offers that opportunity Of diversification and higher risk Adjusted returns and another doesn't Then uh they're going to have a problem If this one's right so Kathy Wood is Saying that the game theory for these Institutions for buying Bitcoin is on And also the real reason the ethereum ETFs have gotten approved but but there Didn't seem to be such friction in the Ethereum ETF being approved as it was With the Bitcoin ETF what is your read On that she was one of the filers she Was there oh the read was it was not Going to be approved it was absolutely Not going to be approved so what Happened if it were to have been Approved the regular way way we would Have been getting questions meaning from The SEC and all of the no one was getting Questions from the SEC uh beforehand so that was an Indication noo just you know we'll have To try it again um what happened in one

Week's time and I truly believe this was One of the the the things that happened Is there was sentiment evolving around This 21 act in the house that wait a Minute this thing is gaining momentum on Both sides of the aisle and wow this Could be a an election year issue this Is an election year so the Administration I think basically said oh And the other thing that happened was Former president Trump uh has Become much more cozy with uh Bitcoin Crypto generally and and uh that week Said he would accept campaign uh Donations in crypto so again this idea This is an election year issue and then I cannot tell you I was on the phone With our coo and he was like he screamed When he saw this come across like what It was within within 3 days of being Denied we were sure we we were sure it Was going to be denied and I think it Was this campaign election year you've Got the legislative branch you've got Former president Trump you had you know Rapid fire and boom here we are and as This crypto Market evolves and as I'm Searching for Quality altcoins making Progress let's remember the dtcc meaning The depository trust and clear Incorporation recognized as the world's Premier settlement system has completed A pilot project on chain link now you Touched on this but dtcc released a

Report this month highlighting some of The benefits which you mentioned but Some include realtime more automated Data dissemination and built in access To historical data what else stood out To you in the report and how is this Different than how The Current financial System works meaning major United States Banks are using chain link trafi meets Crypto so in the current Financial System all of that data needs to be Emailed across uh many different groups And the data only becomes available After days or weeks or months here the Data can be in an automated way Generated by calculating it pretty much On the spot and it's so it can be made Available every minute rather than every Week or every month and that's pretty Significant when you think about this as Valuation data that tells you the value Of what you're buying or selling and Then the second thing that's pretty Significant is the ability to move um All of this data and all of these assets Across different chains so there was a Dimension here where the data can also Go across different chains through ccip The cross chain interoperability Protocol that we work on at chain link And the ability to move this data across Chains is very important because all the Banks all the asset managers are Basically in the process of launching

Their own chains and they're want going To want to use tokens and consume data From their own chain environment but all Those different chain environments need To be reliably connected so that's one Of the big things that we also work on Also breaking news PayPal staple coin Goes live on salana as PayPal announced Today here at consensus that its stable Coin py USD is now available on the Salana blockchain the development comes About 10 months after first debuting on Ethereum according to PayPal the salana Blockchain is known for processing Massive amounts of transactions at high Speeds with low costs which provides Quote significant benefits for the Commerce use cases and it's interesting They didn't choose an eth Layer Two they Chose salana and hugely bullish news for Customers Gemini users will be made Whole announced today that it will Return nearly $2.2 billion to customers Of the crypto exchange's defunct crypto Lending program that's after their funds In the earn program were paused Withdrawals were paused back in November Of 2022 now the earn program paused Withdrawals in November 2022 and Customers had their funds locked up ever Since in an email to customers today the Company which is owned by twins Cameron And Tyler winkl boss said that about 97% Of the digital assets owed to users by

Genesis Gemini's lending partner in all Of this as of the suspension date are Now available in their Gemini accounts This comes after Gemini's previous Announcement that it had reached a Settlement with Genesis and other Creditors in the Genesis bankruptcy Which will result in all earn users Receiving 100% of their digital assets Back in kind Now that means if users lent one Bitcoin In the earn program they'll receive one Bitcoin back as well as any and all Increases in the value of assets since They lent them into the program also Join us for Bitcoin Nashville July 25th Through 27 use code altcoin daily for 10% off your ticket this is going to be Such an epic conference come out hang Out link down below see you there