The Wolf Den #163 - Valkyrie ETF Filed, Trust Launched
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This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!I have been sitting on my hands, waiting to announce some exciting news which is finally public. Over the past few months, I have been working with a company called Valkyrie on a suite of products including a number of trusts and ETFs. I am a shareholder in the company, which finally filed and announced their ETF this weekend. Watch out Grayscale.https://www.coindesk.com/valkyrie-digital-assets-files-for-bitcoin-etfAs I have said a number of times, I believe that a Bitcoin ETF is the final step to widespread institutional adoption. We have seen them rejected a number of times for various reasons: the asset was not big enough, was still too volatile and it was viewed as a bubble. That has all changed in the past year. Any ETF filing has to be withdrawn within 3 years if it is not accepted, so most who tried before were simply too early.There are no guarantees that an ETF will be approved, so the company has also launched a Bitcoin trust, which will compete directly with GBTC but will trade with less of a premium. It's a better product. The thinking in creating both is that an ETF will eventually render all trusts irrelevant, so they are looking to have their hands in both. Nobody else is doing this. If you want to know what a Bitcoin ETF approval from the SEC would mean for the market, tune in to Tuesday’s podcast. There are many companies vying to be the first and I had the pleasure of speaking with Steven McClurg, the CIO of Valkyrie Investments. Steven broke down everything about the Bitcoin ETF, why it's taking so long, the impact it could have, the effects it will have on trusts, and more. He even shared his prediction for potential Bitcoin price this cycle (500K) and top time until ETF approval (3 years) - you will have to tune in to hear how he came to these conclusions.The trust is open - https://www.valkyriefunds.io/trust.I will be live streaming today at 2 PM EST, talking Bitcoin, Ethereum and altcoins. Join me! https://youtu.be/gdcUvnw_WRgIn This Issue:Bitcoin Thoughts And AnalysisBitcoin - The Four Year CycleAltcoin ChartsLegacy MarketsFundstrat Predicts 10.5K Ethereum Ethereum Is Leaving ExchangesThis Billionaire Thinks Bitcoin Is NothingMy Recommended Platforms And Tools
The Wolf Den #163 - Valkyrie ETF Filed, Trust Launched
The Wolf Den #163 - Valkyrie ETF Filed, Trust…
The Wolf Den #163 - Valkyrie ETF Filed, Trust Launched
This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!I have been sitting on my hands, waiting to announce some exciting news which is finally public. Over the past few months, I have been working with a company called Valkyrie on a suite of products including a number of trusts and ETFs. I am a shareholder in the company, which finally filed and announced their ETF this weekend. Watch out Grayscale.https://www.coindesk.com/valkyrie-digital-assets-files-for-bitcoin-etfAs I have said a number of times, I believe that a Bitcoin ETF is the final step to widespread institutional adoption. We have seen them rejected a number of times for various reasons: the asset was not big enough, was still too volatile and it was viewed as a bubble. That has all changed in the past year. Any ETF filing has to be withdrawn within 3 years if it is not accepted, so most who tried before were simply too early.There are no guarantees that an ETF will be approved, so the company has also launched a Bitcoin trust, which will compete directly with GBTC but will trade with less of a premium. It's a better product. The thinking in creating both is that an ETF will eventually render all trusts irrelevant, so they are looking to have their hands in both. Nobody else is doing this. If you want to know what a Bitcoin ETF approval from the SEC would mean for the market, tune in to Tuesday’s podcast. There are many companies vying to be the first and I had the pleasure of speaking with Steven McClurg, the CIO of Valkyrie Investments. Steven broke down everything about the Bitcoin ETF, why it's taking so long, the impact it could have, the effects it will have on trusts, and more. He even shared his prediction for potential Bitcoin price this cycle (500K) and top time until ETF approval (3 years) - you will have to tune in to hear how he came to these conclusions.The trust is open - https://www.valkyriefunds.io/trust.I will be live streaming today at 2 PM EST, talking Bitcoin, Ethereum and altcoins. Join me! https://youtu.be/gdcUvnw_WRgIn This Issue:Bitcoin Thoughts And AnalysisBitcoin - The Four Year CycleAltcoin ChartsLegacy MarketsFundstrat Predicts 10.5K Ethereum Ethereum Is Leaving ExchangesThis Billionaire Thinks Bitcoin Is NothingMy Recommended Platforms And Tools