Crypto: This is HUGE!
So if you enjoy short form, concise, no bs content that doesnt waste either of our times well make sure to like the video subscribe to the channel, help us get to 300 000. Subscribers also patreon is completely sold out, but in the meantime, if you want to join, we have a free discord with thousands of members im in there. All the time answering questions right now. The entire crypto market is sitting around a 2.3 trillion dollar market cap and the narrative over the last couple of days has been all around bitcoin everyones been saying: oh bitcoins, up 10 bitcoins up 30. In the last seven days, whale accounts are buying bitcoin, but this narrative is starting to change, because right now were seeing today that bitcoins price is relatively flat even a little bit in the red and were starting to see all coins take over coins like cardano are Up four percent finance coin up: three percent polka dot up over six percent over the last 24 hours and im expecting this to just continue to get more and more um intense, as the next couple of weeks go on. Im continuing to expect altcoins are gon na see significantly more gains as people start moving over their bitcoin holdings into some more volatile higher risk, higher board all coins. One of the big announcements, though over the last 24 to 48 hours, has been from the sec and cryptocurrency etfs weve, seen that everyone has been talking about.
When is a bitcoin etf going to get approved whens this? When is this going to happen? When are we going to see like trillions of dollars poured into crypto and right now we just saw the sec approve something called the volt equity etf, which essentially provides exposure to bitcoin bitcoin centric companies and a couple of people in the discord were saying. Oh, this is a huge deal. This is such a big deal for crypto and its positive, but its not like a bitcoin etf has been approved. This is not a bitcoin etf. What this is is essentially its an etf that is intended to track so called bitcoin industry revolution companies which are defined as entities that hold the majority of their net assets in bitcoin or derive a majority of their earnings from bitcoin mining. So this is not that you, people who invest in this etf are investing directly in bitcoin theyre, going to be investing in companies that do a lot of work with bitcoin, so its important its a big deal, but its not as big of a deal as a Bitcoin etf, getting approved either way, though we always like to see the sec approving um different funds and etfs related to crypto in general. Last week we actually saw the sec delay four different, bitcoin etfs by 45 days. The way that this works is that theyre able to delay a decision on an etf three separate times and now they have delayed the decision on a number of bitcoin etfs three times so they cant delay it anymore.
They have to make a decision. So one of the important dates coming up is going to be with the vanek bitcoin etf. Many people are saying that we may see uh etf approved in october, but i think this is going to be the first one, because this vanic bitcoin etf was delayed. Three separate times and the final decision date is on november 14th. This is the date where the sec has to say: yes, we approve it or no were outright outright, rejecting the uh application for a bitcoin etf im expecting this is the date that we will see a massive um inflow of capital im expecting. This is the date that were gon na see the first ever bitcoin etf approved. One thing that weve been seeing lately, though, is that a lot of bitcoin whale accounts have been really front, running um front running the approval of a bitcoin etf in a bitcoin futures etf. According to a number of analysts, theyre expecting that were going to see a bitcoin futures etf in october of 2021 and a bitcoin etf, just a regular bitcoin etf in november. So what we are seeing is that, right now, a lot of bitcoin whale accounts are pouring billions of dollars into crypto. In the last 24 hours alone, 1.6 billion dollars was piled into bitcoin in buy orders in in just a matter of minutes, 1.6 billion dollars and im expecting that were just going to continue to see this happen, and this is what caused that spike in bitcoins price Driving it up over 55, 000 per coin and im continuing to expect this to happen over the next couple of weeks, leading up to a bitcoin futures etf and a bitcoin etf approval in general.
In addition to this, one of the last stories i want to go over is with regards to invesco. While we saw that sec approved this um etf, the vault equity etf invesco also just officially listed two crypto etfs on thursday october 7 2021.. They listed two of them in a partnership with galaxy digital um and theyre listed on the stock. Ticker symbols s a t o and b l k c. This is important because whenever we start to see more crypto etfs approved, while theyre not getting direct exposure to bitcoin its always very exciting, to see bitcoin needs like any sort of crypto etfs blockchain companies um be able to be listed and get more exposure through institutional Investors last story is going to be with public.com public.com, just officially added crypto trading features. This is a big deal. Ive used public.com and public investing for a while. If you want you can go ahead. Follow me on this app. You can see exactly what im buying in stocks exactly what im buying in crypto and its its exciting to see. More and more companies offer cryptocurrency investing, and this is one of them, so anyways thats whats, going on with crypto hope you enjoyed and ill see.