Bitcoin's Recent Rally Is a 'Vote Towards Resilience,' Strategist Says

We really have no idea what the SEC is going to do. Uh You know, I should note a couple of things though that are interesting one. you know, the rally that we've seen in Cryptocurrency, I'm not sure what you could pin it on, but it's certainly uh AAA vote towards resilience if you think about the challenging news flow, both in terms of uh the SPF trial and other challenges in the spot in the exchange market. And you think simply of rising interest rates, these were supposed to be big headwinds. And yet, of course, we've got a, a big rally. So I think uh as an indicative potentially of broadening use in general, it's interesting, but I'm not sure that's the thing to hang your hat on. And the other thing we point out is that there are important attributes to the futures market uh that stand alongside the spot market. Uh You know, first uh futures are, you know, there's no one price for any Cryptocurrency. It's multiple exchanges. So futures reference multiple exchanges to settle, that's really important. Uh And there's a lot of, there's a lot of academic notions that information turns into price faster in the futures market. It was kind of like credit default swaps and cash bonds. A lot of times information hits price and credit the fall spots uh quite uh more quickly than in the cash bond market. And then the other thing we just don't know in the uh ETF space, what we know is that the create redeem and market maker and authorized participants, the whole ecosystem has proven to work very, very well. Uh And, and in scale with Bito with BIT O. So we're really pleased with the robustness of that solution.