Watch Out! The Great Bitcoin Shake-Up!!! (Happening Now)

Watch Out! The Great Bitcoin Shake Up!!! (Happening Now)

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Timestamp:
0:00 – Grayscale is dumping Billions! (Why?)
1:05 – Grayscale CEO justifies high fees
2:40 – Vanguard refused to list Bitcoin ETF
3:30 – Bitcoin ETF expert reveals insight
5:21 – The Great Shake-Up! (Happening now)
8:42 – Final thoughts

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As Bitcoin continues to consolidate the cryptocurrency market is going through a great shakeup grayscale continues to dumped Bitcoin through coinbase onto the Open Market in $500 million Clips why well it’s because grayscale has had fees for a long time of 1.5% to get into their trust and now with black rock and

Arc and Franklin Templeton their fees are significantly less so what we’re seeing is a great Exodus from the grayscale Bitcoin trust and money flowing in to every other ETF black Rock’s Bitcoin ETF was the first to hit $1 billion in assets under management Fidelity became the second spot Bitcoin

ETF issuer to hit $1 billion of inflows if this continues you know for years besides Satoshi Nakamoto himself grayscale has been the largest holder of Bitcoin well what we’re seeing this great shakeup black Rock is now on track to surpass grayscale’s Bitcoin Holdings in just 37 days how can grayscale

Justify such high fees for custody Bitcoin through an ETF the CEO has just responded listen to his explanation you tell me do you think this is a good enough explanation Michael it’s guy great to see you thanks for stopping by look one of the things people are

Pointing to with you guys is you still got relatively High fees some of your new competitors don’t how you going to square that Circle the reception we’ve heard from the investment Community is really one of really thanking gra scale thanking gbtc for forging a path for these other products to come to Market

Gbtc you know paved the way through our SEC lawsuit our SEC Victory and ultimately really over the last 10 years developing the disclosures and the operations and the mechanics that now other asset managers and other issuers get to borrow from now that being said we’re meeting investors where you know

They’re trying to invest and I think that from a market perspective gbtc fee really does differentiate Itself by those factors the size and liquidity the track record totally get that is it worth 100 basis points we certainly think it is I think for an asset class like crypto a lot of

People are pointing to the fact that some new entrance are coming into the space some of the world’s largest asset managers but this is their first time dealing in crypto assets operating crypto investment vehicles and so as an investor when you’re choosing amongst these products fee is a consideration

The asset manager the issuer behind it is a consideration but so should size liquidity and again that track record the great shakeup continues as Vanguard continues to refuse to offer Bitcoin ETFs to their clients people are boycotting Vanguard because of this but Vanguard says hey we won’t lose a single

401k plan over it hear the words from the CEO himself we won’t be pursuing a Bitcoin ETF um it just like we don’t uh use gold as an asset class for our clients we have it’s not that people can’t invest in there we just look at asset classes for you know what belongs

In a long-term portfolio what has intrinsic value has cash flows to it and those are the asset classes we steer people towards and so we don’t go towards Bitcoin or gold or or any other of those uh stable assets stable assets stable assets stable assets stable assets

The question is is vanguard’s refusal to have anything to do with Bitcoin in ETFs is this temporary or is this permanent this is Eric balchunas he is the senior ETF analyst for Bloomberg Eric has been one of two expert Bloomberg analysts keeping us up to date with what exactly

Is going on with these Bitcoin ETFs so he’s got a lot of insight to share listen to his answer to this question I love the analogy he uses so Eric this uh refus to allow Bitcoin ETFs to trade on his platform do you think it’s temporary

Or permanent uh look I think down the road they’re going to lighten up I I think for now this is just like just not in their DNA it’s almost like repellent to them they generally don’t like Commodities in general right uh Bogle was real into uh stocks and bonds

Because that money works for you right it’s about dividends and earnings growth or a coupon a commodity is just what somebody else will pay for it now they do have GLD trade uh available but that’s a commodity that quote has usage so they just see this as a commodity and

No usage so it’s like a double whammy for Vanguard and you have to understand that vanguard’s like the family friendly kind of uh brokerage platform they don’t allow vix products or you know none of the fun stuff no leverage products you know the metaphor I Ed for this is if

You’re old enough you remember in the late ‘ 80s Walmart would not carry uh certain rap albums like two life crew okay and it actually created buzz and Intrigue in the albums it did nothing to Walmart like Shoppers were going there for other things cheap Goods they didn’t

Care but it helped it actually helped the album This has kept the story going I think this has given the story more legs so the P crypto Twitter that’s freaking out I’m like it’s not that bad of a thing and nobody who goes on Vanguard really wants Bitcoin anyway

It’s not your audience yeah Scarlet I don’t know how much time you spend on crypto Twitter but # boycott Vanguard uh has been a Hot Topic over the past week by the way make sure you subscribe to our channel daily videos just like this keeping you informed on the entire

Cryptocurrency Market if if you’re interested in making money in cryptocurrency subscribe to our channel daily videos it’s true a great shakeup is happening while institutions like Vanguard are dropping the ball other institutions like Franklin Templeton are picking up the ball Bitcoin ethereum salana ordinals Bitcoin layer 2os the salana ecosystem the ethereum ecosystem

So how deep into Bitcoin and crypto is Franklin Templeton I love this interview with the CEO Franklin Templeton CEO CEO Jenny Johnson underscores the importance of Bitcoin in protecting individuals from asset seizure by governments quote there is a fear component to it that is considered almost an insurance or safety

Component with Bitcoin and she talks about crypto at large listen got a very special guest this morning Jenny Johnson president CEO Franklin Templeton which has 1.5 trillion dollar in assets under management the 76y old firm was one of the roughly dozen to launch a spot Bitcoin ETF just last week after the SEC

Gave the go-ahead Jenny great to have you with us here on set thanks for having me um let’s start off with the Bitcoin ETF I do want to of course get your take on the markets but in terms of the Bitcoin ETF we’ve seen massive inflows that was expected in the early

Days what do you expect as time moves on and who are the incremental investors in this ETF in your view you know it’s funny I um I’m known for saying that Bitcoin is the greatest distraction from one of the greatest disruptions in financial services which is blockchain

So a lot of people took that as I’m not a believer in Bitcoin uh and yet you know launching this ETF you can see obviously the demand that’s out there uh for Bitcoin and I think there’s a lot of reasons why that is uh I think that one

From a blockchain standpoint the ability to pay Bitcoin is going to be a key component of that uh and the technology is going to open up a lot of really interesting types of investment opportunities we actually uh launched a tokenized uh money market fund where the first uh mutual fund to or first

Traditional asset manager to actually launch a 40 act fund on a public blockchain on the Stellar blockchain so Bitcoin is just one of The Suite of what we think are opportunities here uh and um you know one of the things that made me a Believer is as I went around the world

Talking to people who would tell you I I had somebody who said I keep 50% of my savings in Bitcoin because if I say the wrong thing in my country I could have my assets confiscated uh I remember talking to somebody in Israel who said my parents and their parents had all of

Their assets confiscated they keep a portion of it in Bitcoin so there’s a fear component to it um that is considered almost a insurance or or safety component but I also think it’s really important to fueling what is a next real opportunity in this blockchain world right so I mean the scenarios that

You just outlined that’s the case for holding Bitcoin the actual you know you have the keys to the security as opposed to investing in an ETF right so there’s there’s a use case for both for sure that still keeps a floor on the price right so it keeps on the floor on the

Price and then if you’ve actually tried to acquire and deal with the keys it’s really complicated yeah right I mean I did it at one point and then I was trying to actually figure out how to get back in and it’s hard and so being able

To open it up and have access to that through an ETF and just simply through your brokerage account is is a much better way to access it if you’re interested in making money in crypto make sure you give us a follow we post one video on YouTube Every Single Day

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