Spot Bitcoin ETF Interest From TradFi Giants Is a 'New Leaf Being Turned Over' for Crypto: Strategist

Blackrock JP Morgan Barclays, Fidelity Franklin Templeton, the significance of those names uh is pretty large and, and there are all the firms that have been mentioned alongside crypto headlines in the past week or Blockchain. And you compare that to 12 to 18 months ago and, and the names that consume crypto headlines are all now bankrupt. So this is what I would consider a new leaf being turned over and given that the SEC chose not to appeal the gray scale uh court loss district uh court loss last Friday. Uh this upcoming Friday on the 20th, that mandate will be released uh basically putting the ruling into effect. And so, you know, f and, and all these other kind of top Wall Street firms would not be voicing these public opinions. If the SEC were going to deny their ETF applications, you just Blackrock and Fidelity, they just don't put the reputation on the line like that. And so uh I think it's a hugely positive sign. The SEC is in active dialogue, providing feedback on the applications. We've seen a number of res submissions already and you know, due to past scars, the crypto ecosystem still doesn't quite want to price it in. We saw that on Monday with, with the uh fake headline. But yeah, I think I mentioned last time the, the, the ETF, the spot ETF is a conduit that, that allows better access to Bitcoin, but you still need those catalysts. And I actually think we're, we're coming up on, on that and you'd look back to the March banking crisis earlier this year. If Bitcoin had a spot ETF maybe that 10% move would have been 2025. Who knows when, when all the regional banks went down. So, I think it, it, it does a lot for the space.