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Gm. Happy NY Tech Week! I’ll be in town on Tuesday and Wednesday. Hit me up if you want to hang 👇
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Spot Bitcoin ETFs Soon?
The SBF trial is sucking up the majority of the crypto airspace right now, but a very positive development has been brewing in the background: the odds of a spot Bitcoin ETF.
According to Bloomberg, those odds are now up to 90% by January 10th.
The cause of this recent bump comes from the SEC’s decision not to appeal their loss in the Grayscale case. For those needing a quick TLDR:
Grayscale operates the largest Bitcoin “trust”, which is basically a Bitcoin futures ETF.
Grayscale has applied multiple times to turn this trust into a spot ETF.
The SEC has always shot down their efforts.
But a federal court back in August ruled that they must give Grayscale another look.
Following their stunning decision to not appeal the ruling, it’s expected that Grayscale and the SEC will open up a dialogue about how to get this thing past the finish line.
Couple that with the recent updates to ARK and 21Shares applications that signal a “constructive conversation” is happening with the SEC, and momentum has never looked better for a spot Bitcoin ETF.
🤝 THE LATEST IN…
Billionaires wanted it, but 54,578 everyday investors got it first… and profited
When incredibly rare and valuable assets come up for sale, it's typically the wealthiest people that end up taking home an amazing investment. But not always…
One platform is taking on the billionaires at their own game, buying up and fractionalizing some of history’s most prized blue-chip artworks for its investors.
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Raise: Saronic, a defense startup building autonomous ships, raised $55M in Series A funding.
Stat: $5000: How much it’ll cost to transition your car into an EV using the newly invented REVR.
Rabbit hole: The Cult Of Obsidian (Fast Company)
Razor thin margins on last week’s poll:
For this week:
Will SBF be found guilty?
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