Bitcoin ETF Approved (HODL) 20k BTC?

Hey you, welcome back to the channel. And guys, today we want to talk about the ETF that's recently been approved in Switzerland. Guys, I hope you're having a nice weekend. Um, beautiful day outside. I got a moment here and was going through some of the news and, uh, saw this interesting article and I want to talk about that a little bit because, um, As we know, as we go complete the last quarter of the year here, we have been talking about ETFs, we have been talking about Bakkt that's coming out December 12th, and whereas they will also administer custodial accounts. And we just want to talk a little bit about why I think this is going to be very important and why this is going to get money into crypto, get more money into crypto that we much that is going to be much needed going forward for the cryptocurrency market to get to the point where we need it to be. So the Bitcoin ETF, uh, with, um, ticker name, um, HODL, H-O-D-L, offered by Amun Crypto, will begin trading on Switzerland's SIX Swiss Exchange beginning next week. The ETF's earnings will be linked to 5 different cryptocurrencies. The ETF is being offered by Amun Crypto, a UK-based fintech company. Um, and so what was interesting is what it's going to be purchasing, and it's saying, uh, roughly, uh, 48% of the ETF's assets will be invested in Bitcoin. The rest will be put towards Bitcoin Cash, hmm, Ripple, Ethereum, and Litecoin. So with everything's been going on with Bitcoin Cash. Not sure that was the best choice, but it would seem that they're going for the top 5 coins and they're trying to, you know, basically index average out the market here and get people into these, into these funds, these exchange-traded funds. Now, why I think that's going to be important in dealing with the future of cryptocurrency, I know that we have always went with the narrative, this is a way to be your own bank. And, uh, that was like, you know, pretty much our entire story. That was our stick, right, uh, with cryptocurrency. But what's happening is something I think that was bound to happen in the West, and that was people would start to really give over that authority, give over the the private keys, right? Give over the, uh, you know, all of these things to the responsibility of something else, someone else. Because, you know, as much as many of us hate to admit it, guys, uh, at the end of the day, uh, there, you know, there are still many of us who are more comfortable, are more confident, and, and other people handling a lot of our affairs, uh, and I think that comes from ideas like OPB or other people's brains. Right? Some people just still would much rather, uh, have someone handling things who maybe they feel can do a great deal better and probably do have a lot more experience in that area and maybe offer them some protections at the same time. So just like we've had the complete conversation about central, uh, the, the, uh, becoming more compliant, becoming KYC compliant and AML compliant and all those various things. And we had a lot, some, a lot of people against that. They thought that was anti-crypto. We had people who were for because we felt that this is the way the, the direction the world is going in, and we were going to have to address this and meet this at some point in time. But I also think it's important that we have the conversation about what's going to be happening in the future with— are a lot of people going to be in control and in charge of their own wallets, of their own financial matters, with holding their tokens and various things like that? And I think ultimately, guys, the answer is going to end in no for many people. I think many people are going to want protection. They're going to still want somebody else to help them out, to handle a lot of their affairs for them. And the direction this is going in with these ETFs is that it's gonna pretty much just, you know, handle a lot of that for them. Was coming up with a lot of the custodial accounts and back next month. And obviously these funds are buying the top 5 coins, which is introducing more money into cryptocurrency, obviously. So, uh, you know, can't say that's a bad thing. I think it does change, uh, a lot of the narrative we went with, uh, to be your own bank. I, I think that with a lot of areas of the world where people are unbanked and various things like that, that's going to be very important, and that's going to go on a lot in various places across the globe. In which it is much needed, is a much needed use case there. But I think in dealing specifically with the West and how we handle a lot of our financial choices and decisions, you know, whether we are invested in 401(k)s at our place of work, everybody's in to some degree is invested in the stock market or, or providing capital to the stock markets. And for us to get the cryptocurrency space more operating in tune with that, these type things are going to happen. So it looks interesting. Obviously I hope that this is significant in driving the price of cryptocurrency up. I love to see us get back to $20,000 Bitcoin and get the market capitalization overall up. Now, of course, some people are saying, oh, you know, Switzerland, you know, has things like this operating already. And, um, you know, I mean, you know, basically, uh, it's probably not going to be that significant. But what I think may start to happen is that we may have now a procession of, you know, many funds doing this. Now, now that this one got approved, there is a, a much older one now um, that's waiting in the wings, that people are waiting to get approved as well. Uh, and it— so it might— you— we might see them start to pop up more and more, which means that more and more cryptocurrencies will be purchased and traded for people who probably otherwise wouldn't, uh, invest and trade these cryptocurrencies. So, uh, yeah guys, that's what I want to bring to your attention today. Hopefully one of these situations, one of these stories is a catalyst hopefully for a bull run, some positive news, some push forward with the rough week we've had, uh, with the Bitcoin Cash debacle. And, uh, hopefully, uh, we're now starting to get back on the right track, see some of those things. But guys, that's all I want to talk to you about today. If you like content like this, don't forget to like and subscribe. And until next time, take care.