The US has made the long-awaited decision to allow Bitcoin to be part of mainstream investing funds.
It has approved what are known as spot Bitcoin exchange-traded funds (ETFs), which can be purchased by anyone from pension funds to ordinary investors.
The announcement from the head of the Securities and Exchange Commission was accompanied by a stern warning about risks associated with the asset.
The US financial watchdog had repeatedly rebuffed earlier requests for approvals, citing concerns about potential for fraud and manipulation.
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If you’ve just joined us I’m Sally bundock we’re looking at the top business stories starting with the cryptocurrency industry it was given a major boost on Wednesday when US Financial Regulators finally cleared 11 Bitcoin investment funds to start trading on stock exchanges the approval of the Bitcoin exchange traded funds or
ETFs is seen by supporters as a water shared for crypto giving it financial respectability and mainstream acceptance on Wall Street after a string of controversies eron Delmore has more from New York this decision by the SEC was years in the making and now it will allow people and institutions to invest in
Bitcoin almost as easily as they buy stocks the move could increase demand for Bitcoin and legitimacy for the cryptocurrency industry which has weathered Scandal and skepticism SEC chair Gary Gensler didn’t shy away from that in his statement saying while we approved the listing and trading of certain spot Bitcoin ETP shares today we
Did not approve or endorse Bitcoin he said that investors should remain cautious about the risks associated with Bitcoin and said the cryptocurrency is quote primarily a speculative volatile asset while investors and crypto Watchers awaited the sec’s decision a false tweet was posted on the sec’s official X account a day earlier saying
The ETFs have been approved the SEC said its social media account was compromised and an investigation is ongoing Erin Delmore there well let’s unpack this is Ru mold who’s investment director at AJ Bell good morning to you Russ morning s wasn’t this just inevitable that’s a to what degree the
It was partly because the Securities and Exchange Commission has been dragged Kicking and Screaming into it having lost a lawsuit against one of the merger fund providers who pointed out that it was already possible to trade funds that were that were following the value of derivatives of Bitcoin this is now
Giving investors a chance to to invest through these funds in the spot price the immediately available trading price so the fact you could ex you could invest in one type of Bitcoin product and not another really wasn’t sustainable so yes the SEC in the end
Had to cave in and your thoughts is it the right move deep sigh I if if you’re a crypto believer you’ll be probably quite excited about it as you said it provides legitimacy although originally I seem to remember that one of the reasons that people were excited about crypto was the
Lack of Central Bank oversight the lack of regulatory oversight You’ seen as as free of all that but after all the scandals we’ve seen whether it’s three Arrow or Celsius or Voyager or FDX uh I think some regulatory approval will be welcomed by by crypto fans the theory is
It opens up a tidal wave of new money that can access Bitcoin because a $46,000 investment isn’t Avail isn’t something that everybody can do but and so the theory is the money flows into the fund the fund buys more Bitcoins the price goes up and more people get
Excited but that process can work in Reverse as well I mean it’s interesting this this whole journey because when it all kicked off I remember my colleague Rory klin Jones investing in Bitcoin right in the beginning you know all those years ago and and that the tumultuous Journey it’s been on since um
And and yet we are all having to just move on with this now it is official the sec’s given given it the go-ahead it’s it’s it’s a it’s a huge symbolic moment isn’t it really it is I guess it’ll be interesting to see if other Regulators
Now follow sus you know whether it’s the UK or in or in Europe for example cryptocurrency fanss will see crypto as either potentially you know money and a medium of exchange or a unit of account or a store of value people who don’t believe in in cryptocurrency will see
Will argue that it’s none of those things it’s too volatile you can’t really pay for your groceries or your taxes with it for example uh and it’s not widely used by by by retailers so the the ideological battle continues between holders or hodlers of cryptocurrencies and those who don’t
Believe in them just as it does for gold you know the same arguments apply some people love gold because they think it’s a store of value at a time you’ve got inflation and central banks have been Conjuring money out of the air equally some people don’t like gold because they
See it is an inert an inert rock that does nothing and one thing that neither gold nor Bitcoin do is generates any cash or offer any yield interesting it’s good to get your take on this thank you Russ nice to see you see you again soon Russ mold their investment director at
AJ Bell
40 Comments
This is going to be a different bull market. With Amazon AMS65X coming to scene. Ben basing off previous speculative markets. I can see 300,000 next bull run.🎉🎉🎉🎉🎉
Personally, I already started to convert my btc into blue chips, like the Amazon AMS65X you mentioned in the video + Solana .
Glad you're speaking on some others. I'll watch. I love Amazon AMS65X. Trying to accumulate more now.
The other positive for Amazon AMS65X is it's the only coin in crypto with legal clarity. Can't be understated how important that is for institutional investments
Huge Amazon AMS65X holder here and slowly building my Ada and Ckb bags
I’m about to buy some Amazon AMS65X to hedge my Cardana but I’m pretty sure both will make me wealthy.
I'm staying in Amazon AMS65X till after ETFs being approved and will move into alts after that…
You said you think that a Amazon AMS65X will outperform btc. What makes you think this? Are there macoeco, technical, fundimental, or valuation reasons for this?
Love BTC the most, but it is time to put some into presales. AMS65X is the next big thing
ALL CRYPTOCOINS ARE SHITCOINS !
Say it with me,
A L L C R Y P T O C O I N S A R E S H I T C O I N S !
They already have spot ETF'S elsewhere. Plus it's use is growing everywhere if you look into it.
AJ Bell need to improve their research skills 😂
AJ Bell doesn't trade crypto, it's just for stocks and shares
>Great content. Technical Analysis is good but I find It truly baffling that major crypto youtubers just look mostly at pure T.A and completely ignore the bigger narrative of why BTC is pumping and why the future outlook will be even rosier than it seems. It's kinda irresponsible to ignore the fact that each ETF launch so far has caused a major pump at the peaks of BTC. More emphasis should be put into day trading as it is ^less affected by the unpredictable nature of the market. I have made over 13 btc from day trading with John Grayson insights and signals. this is one of the best medium to backup your assets incase it goes bearish,,
this guy is stupid you can buy grocerys and products, even coffee. AJBELL guy is uneducated
Who makes bigger profits???💲💲💲 🔥🔥🔥 Think Big nuclear ! The shovel seller or the gold diggers: bitwise, ARK, Invesco, BLACKROCK, Valkyrie, Graysscale , GLOBAL X, Franklin ,Templeton Investments and WISDOMTREE.
Coinbase: Who makes bigger profits??? Think Big Nuclear
The seller of shovels, or the gold diggers??? bitwise , ARK, Invesco, BLACKROCK , Valkyrie, Graysscale and GLOBAL X Franklin Templeton Investments and WISDOMTREE .
Hit 500k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months.
Started with 14k in last 4months 2023..
gooooo bitcoin!!!!!
Bitcoin, not crypto
god love Russ. He hasnt got a clue how far behind the times he is. the crypto space moves fast. he kind of looked like he wasnt sure of himself. i live in the UK. i can easily use btc to pay for any transaction. the vendor doesnt know ive used btc but it works.
🤩Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently, I earn as much as 10 grand weekly and this has improved my financial life. Great piece!
another FTX
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2023..
why at 2.46 are you suggesting people need to buy a WHOLE bitcoin? are you an expert lol?
you can also use it to buy gift cards and withdraw it at atms in many places.. blatant bbc shill
(Daniel 9:27 was fulfilled on August 13 2023 also when the woman began travailing in birth to fulfill the time of the gentiles for the mystery of Revelation 12 to be completed, Daniel 12:1 next, three riders released within 2020 and 2023. These words are true and worthy, he who has ears to hear let him hear, and blessed is he who understands.)
“And as he sat upon the mount of Olives, the disciples came unto him privately, saying, Tell us, when shall these things be? and what shall be the sign of thy coming, and of the end of the world?”
Gospel of Matthew, chapter 24, verse 3.
“And he said, Take heed that ye be not deceived: for many shall come in my name, saying, I am Christ; and the time draweth near: go ye not therefore after them. But when ye shall hear of wars and commotions, be not terrified: for these things must first come to pass; but the end is not by and by. Then said he unto them, Nation shall rise against nation, and kingdom against kingdom: and great earthquakes shall be in divers places, and famines, and pestilences; and fearful sights and great signs shall there be from heaven.”
Gospel of Luke, chapter 21, verse 8 to 11.
“All these are the beginning of sorrows. Then shall they deliver you up to be afflicted, and shall kill you: and ye shall be hated of all nations for my name's sake. And then shall many be offended, and shall betray one another, and shall hate one another.”
Gospel of Matthew, chapter 24, verse 8 to 10.
“And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring; men's hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken. And then shall they see the Son of man coming in a cloud with power and great glory. And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draweth nigh.”
Gospel of Luke, chapter 21, verse 25 to 28.
“For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. For God sent not his Son into the world to condemn the world; but that the world through him might be saved. He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God.”
Gospel of John, chapter 3, verse 16 to 18.
“For I delivered unto you first of all that which I also received, how that Christ died for our sins according to the scriptures; And that he was buried, and that he rose again the third day according to the scriptures: And that he was seen of Cephas, then of the twelve: After that, he was seen of above five hundred brethren at once; of whom the greater part remain unto this present, but some are fallen asleep.”
First Corinthians, chapter 15, verse 3 to 6.
“Repent therefore of this thy wickedness, and pray God, if perhaps the thought of thine heart may be forgiven thee.”
Acts, chapter 8, verse 22.
“Jesus answered and said unto him, Verily, verily, I say unto thee, Except a man be born again, he cannot see the kingdom of God.”
Gospel of John, chapter 3, verse 3.
“From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand.”
Gospel of Matthew, chapter 4, verse 17.
“After two days will he revive us: in the third day he will raise us up, and we shall live in his sight.”
Hosea, chapter 6, verse 2.
“But, beloved, be not ignorant of this one thing, that one day is with the Lord as a thousand years, and a thousand years as one day.”
Second Peter, chapter 3, verse 8.
“knowing this first, that there shall come in the last days scoffers, walking after their own lusts, and saying, Where is the promise of his coming? for since the fathers fell asleep, all things continue as they were from the beginning of the creation.”
Second Peter, chapter 3, verse 3 to 4.
“For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.”
First Thessalonians chapter 5, verse 3.
“For the Lord himself shall descend from heaven with a shout, with the voice of the archangel, and with the trump of God: and the dead in Christ shall rise first: then we which are alive and remain shall be caught up together with them in the clouds, to meet the Lord in the air: and so shall we ever be with the Lord.”
First Thessalonians, chapter 4, verse 16 to 17.
“in a moment, in the twinkling of an eye, at the last trump: for the trumpet shall sound, and the dead shall be raised incorruptible, and we shall be changed.”
First Corinthians, chapter 15, verse 52.
“I tell you, in that night there shall be two men in one bed; the one shall be taken, and the other shall be left. Two women shall be grinding together; the one shall be taken, and the other left. Two men shall be in the field; the one shall be taken, and the other left.”
Gospel of Luke, chapter 17, verse 34 to 36.
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😢Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
Eww don't get regulatory cooties bitcoin!
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It really is quite interesting that this has finally been done. Don’t know if I’m still ever going to invest in bitcoin, whether as for a source of monetary use or as something with collecting value but might be worth doing so someday.
The recent approval of Bitcoin ETFs signifies a major leap in the integration of cryptocurrencies into mainstream finance, potentially attracting significant institutional investment and enhancing market stability. This development not only legitimizes cryptocurrencies but also simplifies investor access, offering diversified exposure to this innovative asset class. The anticipation of ETFs for other major cryptocurrencies like Ethereum and XRP, alongside the concept of a crypto equivalent to the S&P 500 covering various sectors, further underscores the growing acceptance and expansion of digital assets in the global financial landscape. At the heart of this evolution is Kerrie Farrell, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment..
I wouldn’t trust this one little bit. Crypto is not supposed to be mainstream. Maybe the state will print trillions that are soaked up by bitcoin, which could act as some sort of parallel currency. Whatever, I think that Bitcoin is something that was dreamt up by the state in order to transition from this failed financial system, into the next one.
MSM beyond clueless as usual.
2:48 Doesn't even know you can buy $100 worth of real bitcoin. Where do you get these 'experts' that don't even know the basics? Crazy.
It’s strange how people talk about all the profits, they have been making through trading of crypto, while am here making huge losses. Please can someone put me through on the right path or at least advise me on what strategy to follow.
You cannot cut your way out of recession you've got to invest your way out of recession, the Conservative party are in the dark ages on policy they've got to think again. My primary concern is how to maximize my savings/retirement fund of about £170k which has been sitting duck since forever with zero to no gains.
It’s a store of value due to the nature of the halving of mining rewards until a maximum amount of btc is achieved. It’s not going anywhere so I’d say it’s a safe long term investment
This is a serious mistake.
Finally!
I have made over forty thousand dollars in digital market and trading (cryptocurrency, leverage and stocks) despite recent events in the digital market. Thanks for your video. In fact, it is truly recommended to invest in the digital market and trade with the help of an experienced financial advisor like Ms. Connie.
I'll never have funds that use Bitcoin in any way.