HUGE XRP & SEC ALTCOIN ETF NEWS!

Episode Transcript
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Speaker 1 (00:04):
Hey, everybody, Welcome into The Thinking Crypto Podcasts, your home
for cryptocurrency news and interviews. I'm your host, Tony Edward.
On your way in. Please let that subscribe button as
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or Apple, please leave a five star rating and review. Folks,
I'm sure many of you heard the FED has cut

(00:26):
the interest rates by twenty five basis points. This was
expected the FED features and many market participants expected this.
Now we're not seeing any action in the markets, which
kind of makes sense because, as I've been telling you guys,
this is not some fundamental market thing. I think it's
good from a psychological standpoint for retail, but for the

(00:46):
markets to actually get going, this is not the catalyst,
per se. But what is, and as I've been sharing
with you guys, global liquidity has broken that down trend.
It is hitting new all time highs and the markets
are following, of course, so we got to just let
the markets do their thing. I've been saying there could
be one more flesh out before we start rallying, but

(01:10):
I'm expecting the second half of September which you know,
we're past the middle of the month to be better,
I think we start climbing after maybe a flush out,
and then October we start hitting new highs. We got
a lot of big narratives lined up, like cryptal legislation
and much more so stay patient, guys, don't be emotional,
be educated. We're watching the different metrics and signals and

(01:33):
we're still in a bull market, but we got huge news,
you know, speaking of narratives. And here Charles Hoskinson, founder
of Cardono, said today, great meeting today XRP Nation. The
Ripple folks did really well, as did A sixteen Z.
A lot more work to do, but great progress is
being made on bipartisan legislation being passed this year. What
is he talking about, Well, there was a banking GOP

(01:56):
roundtable that was held this morning and in addition to
Charles's Hawsinson folks from Ripple, A sixteen Z and Kraken
and coinbas Multi coincap Paradigmic Circle, we're also in attendance.
The meeting lasted about an hour and a half and
focus on refining language in the Market Structure draft. So
of course the market Structure bill is named the Clarity Act,

(02:17):
and that is being worked on in the Senate right now.
It has to go through its different hurdles, of course,
and we're hoping this thing can get pass late October,
maybe into early November. This is what I'm hearing from
people in DC. I'm actually going to be interviewing Congressman
tom Ember tomorrow, so I'll try to get you, guys,
you know the details directly from the sources here. But

(02:38):
great to see the industry weighing in on these bills
and pushing Congress to do the right thing here and
making sure the language is correct. So this is very
bullish news. And Charles giving a bit of a shout
out here to the XRP Army because he's had a
lot of battles with them over the years. But great
to see the industry coming together. Now. Look at this news.

(03:00):
The SEC makes Spot crypto ETF listing process easier, approves
gray scales, large cap crypto fund. This is huge updates, folks.
Let me give you the details here. So the US
SEC on Wednesday approve a set of rules for exchanges
to list exchange traded products holding Spot commodities, including cryptocurrencies,

(03:22):
without requiring the agency's individual review time. The decision will
enable exchanges to proceed with the listing of proposed ETFs
by sidestepping the often lengthy nineteen B rule filing process
that can take up to two hundred and forty days
and requires the SEC to actively approve or disapprove an ETF.

(03:44):
This is huge news. It's going to speed up the
process and we can see more all coined ETFs get approved,
so essentially the process will be more streamlined than before.
ETF issuers will approach exchanges as that New York Stock
Exchange CBOE with a product idea and desire to list
their ETF. If the proposed strategy token or combination of

(04:05):
tokens of the issuers meet the generic listing standard, then
the exchange can proceed with the listing of the ETF. Again,
very bullish for the future outlook of all coin ets.
SEC chair Paul Atkins said the decision was aimed at
reducing barriers to accessing digital asset products in regulated US markets.

(04:25):
Here's a quote. By approving these generic listening standards, we
are ensuring that our capital markets remain the best place
in the world to engage in the cutting edge innovation
of digital assets. Alongside the rule change, the agency signed
off on the Grayscale Large Cap Fund, which tracks the
following assets Bitcoin, Etheroreum, XRP, Solana, and Cardano. Very bullish news,

(04:51):
and it improves the prospects of the XRP and Solana
news to be approved. So, folks, this is bullish. We
are headed towards the XRP, Salona and other all coin
ETF approvals. The SEC is making it easier, folks. I
will be interviewing Commissioner Hester Purse next week. She's going
to be in my studio in New York City, so

(05:13):
we're gonna spend some time going over news like this
and what's the SEC's outlook and next steps and much more.
But guys, I mean needless to say, this is so bullish.
Now more bullish news. Rex Osprey is going to launch
the first US listed ETFs, offering spot exposure to XRP
and dogecoin tomorrow. Now many of you know we've been

(05:34):
talking about this. They're doing it in a different way.
They're using the nineteen forties Act where you can set
it up as a c corps, So it's not like
a true spot ETF, not like the current bitcoinery theorem ETF.
This is a way for them to bypass the current
long process to get these ETFs live. What we've seen
those rex osprey, I think they did it for Solona.

(05:56):
They are trying to convert it to the nineteen thirty
three set up for Solana, So I think this is
a smart move on. They're part of get it on
the market, be the first right, and then try to
convert it. But you know, I don't know how much
demand they're going to get because they're not a huge brand,
they're not black Rock, they'reenough fidelity, they're not bit wise,
and so on and so forth. So let's see. But

(06:19):
it's still a big win, right folks. And in addition
to these ETFs going live, specifically XRP, the CME is
set to list options for XRP futures on October thirteenth.
We've seen that the XRP futures listed on the CME
have been breaking records, and one of the requirements the
SEC has been looking for is having a futures market live,

(06:40):
whether it be CME or coinbase or whatever else, because
they require this for bitcoin and e theorem. So both
XRP and Salona features will have options on the CME
on October thirteenth, so this is this bodes well once
again for the approval of the XRPN salonaspod ets, which
I think will the first out of the all coin

(07:02):
group to get approved. And one of the things I've
been telling people is, look, a lot of folks are
filing for all coin ETFs, but there's not futures out there,
so just make sure you set your expectations. The XRP
and Solana tokens have features markets, especially on the CME,
so very bullish needs for XRP and Solana and things

(07:22):
are heating up here. I love what I'm seeing, folks.
I love what I'm seeing. Now a little bit more
details or context to the dosee coin and XRP ETFs
that are going live tomorrow from Bloomberg Intelligence analyst Jane Seyfert.
He wrote on x that the funds aren't pure spot products.
Instead their structure to hold XRP and doge directly while

(07:43):
also investing in other spot ets from outside the US
to achieve exposure. Their filings also include language that would
allow the use of derivatives for exposure if needed. Those
seyfert emphasized that this is not the primary approach. So
once again, this is under the nineteen forties Act versus
nineteen thirty three, which the majority of filers are looking
to get. So very bullish news here for XRP, Solana, dogecoin. Look,

(08:07):
I'm not a doge coin holder, but you know, certainly
this is going to help with the narrative and the
demand from retail and much more so. We're still in
this bullmarket. We still got ways to go. We haven't
hit the parabolic euphoric phase yet, but all of these
things are going to lead us to that, folks, quick
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(08:27):
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(08:49):
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(09:10):
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(09:33):
all the links will be in a description. Now this
is interesting. Circle has expanded USDC to the XDC network.
So I know some of my viewers and listeners, you
guys hold XDC in your portfolio. I personally don't, not
that I'm against XDC, it's just I can't. It's not
possible to hold every token right and you don't want
to spread yourself too thin. But XDC network is a

(09:56):
layer one blockchain which has been around since twenty nineteen.
It's EVM compared so great to see USDC expanding to
other blockchains and XDC is getting that stable coin volume,
so this is really great. Moving ahead, we are getting
some pushback on the Genius Act from the banking lobby.

(10:16):
So the banks, you know, one of the things we've
talked about over the years is that they lobbied Elizabeth
Warren and Gary Genster to attack this industry. That's why
that old grandma was so crazy about crypto. Right the
country has so many other issues and problems, but she's
forming the anti crypto army. Gary Gentzer going crazy, breaking
the law and much more. They were being lobbied by

(10:38):
the big banks, Jamie Diamond and all these guys. Well,
the Genius Act has been passed obviously, and these banks
are trying to push back, like trying to say, oh,
we need to revisit the language in there. The reason
why they're doing this disruptions at their doorstep. So Blockchain
CEO Summer Mersinger, she actually wrote an op ed today

(11:00):
and she said the Genius Act is already law, banks
shouldn't try to rewrite it now. So one of the
things they blocked was, you know, you being able to
get yield four percent and so forth. And the reason
being is because you can just move your money out
of checking, put it into stable coins and earn more
than the BS interests that they're giving you in your
checking or savings. Right, So this is the disruption that's happening.

(11:22):
It's clear as day, and they're trying to fight. But look,
the crypto industry. The bill is already law, and the
crypto industry is going to fight back. And we see
this could be a delay tactic as well, because you
see all the banks are launching crypto trading, their own
stable coins, they're trying to get things up and running.
The problem is they don't have the Clarity Act right

(11:42):
to get a lot of these things into their systems,
so they're waiting for the legislation. But at the meantime,
because there's a much more friendlier environment in the United
States around crypto, more adoption of cryptos happening, so a
lot of these guys are like, oh my gosh, we
got to slow this down, right, because a lot of
firms are tokenized money market funds where you can earn yield,

(12:02):
So why the hell would you keep your money in
a savings and checking account. Now, don't get me wrong,
you need money in your bank account to pay your
bills and so forth. But my point is the people
are going to take more of their money out of
those bank accounts and put it into Web three, DeFi
and stable couins and much more. So that's why these
banks are now coming back to the table like, oh,

(12:25):
we need to revisit it, we need to do this. Yeah,
get out of here right. Disruption is happening. So I
love this article by Summer. You guys can certainly check
it out on coindesk. Now, look at this Bullish paves
the way for US launch with New York bit license.
If you guys recall Bullish, the institutional crypto trading platform,
they just went public. They did an IPO about a

(12:46):
month ago or a couple of weeks ago. Well, they've
got the coveted bit license, which is so hard to
get for many firms in New York. So many of
you often ask, hey, why can't I access this particular
exchange or platform in New York? Is because the bit license,
which is really dumb, So hopefully they remove it. So
Bullish the digital asset platform and infrastructure provider that debuted

(13:08):
on the New York Stock Exchange last month has secured
regulatory approval to expand its operation in the United States,
a key milestone as exchanges seek a clearer footing in
one of crypto's most scrutinized markets. Bullish announced Wednesday that
it's US arm Bullish US Operations, LLC, has been granted
both a bit license andy money transmission license by the

(13:31):
New York State Department of Financial Services. The approvals allowed
a company to offer institutional clients cryptocurrency, spot trading and
custody services in New York. The on rams being built
around the globe, but obviously here in the United States
and New York is a big one because of that
dumb bit license. But great to see Bullish got this
and that's certainly a big win for them. Moving ahead,

(13:52):
p top dot org becomes a validator on four trillion
dollars Canton Network. Now Canton Network you may recognize because
I just interviewed the CEO of Digital Asset, the firm
Digital Asset, which works on the Canton Network. That interview
was published seven days ago, and I told you, guys,
Canton Network, keep an eye on this project and I

(14:13):
may want to invest in the token once it goes
live because it's being backed by big banks like Goldman
Sachs and even Citadel and much more. And it's built
for institutions because it has privacy built in natively, so
this is great adoption news for them. Having p top
dot org become a validator on the Canton network is
a big win for them and launched in May twenty

(14:35):
twenty three, Canton is a blockchain platform developed to support
regulated institutions with emphasis on real world assets, tokenization, interoperability,
and adherence to compliance standard. The move adds p top
dot org, a staking infrastructure provider that reports managing over
ten billion dollars in assets across more than forty blockchain networks,

(14:57):
to a growing list of participants in Canton's eco system.
Listen to this including Goldman Sachs, JP, Morgan City, Santander,
Bank of America, HSBC, and BNP parabs. Recognize those name spokes.
Keep an eye on this project, and like I said,
I will tell you if I'm going to grab the

(15:17):
token when this thing goes live. But this is one
to watch because it's a public blockchain with privacy built in,
and look at the banks and the people participating, right,
So it's not I don't think this is on the
ratear many crypto investors and people in the industry, I
don't think they're paying attention. But I'm sharing it with you. Now, Obviously,

(15:39):
do your own research. This is not financial advice. I'm
just giving you the facts. I'm pointing you in the
direction of the facts and who's adopting the big names
and much more. So again, do your own research. Now,
Forward Industri's eyes up to four billion dollars share sale
to back Solona Push. So we get another publicly list

(16:00):
the company that is launching a digital asseid treasury strategies.
So Nasdaq listed company Forward Industries file for an at
the market equity offering program. Wow, that's a mouthful of
up to four billion dollars, giving the company flexibility to
sell shares over time to support its Salona focused treasury strategy.
On Wednesday, Forward Industries announced that the program will allow

(16:23):
it to issue and sell common stock through sales agent
Canter Fitzgeral. The offering is being made under an automatic
shelf Registration statement followed the us SEC, and automatic shelf
registration allows certain large publicly traded companies to quickly raise
capital with flexibility. So we're seeing companies getting creative here,

(16:44):
and folks, these digital acid treasury companies are I mean,
it's bullish what they're doing. They're buying the assets that
you hold. That's going to create a lot of supply
shock and scarcity for many of these tokens, and they're
buying billions of it. So this is where you want
to pay it. Who's buying, what are they buying, and
you want to make sure you're holding those assets. So
I hold Salon in my portfolio, I hold XRP bitcoin

(17:07):
e theorem, I'm diversified, and my portfolio is doing really
well as a result of those assets. So we continue
to see really really big stuff here. Here's another example, Metaplanet,
which is Japan's version of micro strategy or strategy. They're
expanding their bitcoin treasury strategy with new US Japan units,
so this is interesting. Metaplanet did Japanese hospitality and real

(17:29):
estate group turned bitcoin treasury companies, ramping up its crypto
strategy with the launch of two new subsidiaries, one in
the US and one in Japan. In a Wednesday post
on x the Tokyo based firm announced the establishment of
Metaplanet Income Corp, a wholly owned US subsidiary based in Miami,
with an initial capital of fifteen million dollars. According to

(17:50):
its disclosure, the unit will focus on bitcoin income generation
and derivatives trading, creating a structural separation between Metaplanets core
bitcoin home holdings and revenue generating operations. So again, these
folks are getting creative, they're expanding, They're doing a lot
of capital raises buying these assets. So very bullish, but

(18:12):
I do want to issue a word of caution that
you've probably heard me say before. A bubble is forming here.
So this is why you want to make sure you
have a plan that we are going to exit this
market before we hit the bear market in some of
these companies, not all. Some are not going to do well,
just going to be some blow ups, and it happens
in every bear cycle, right, So I don't want to

(18:34):
be holding any assets on the way down when this
is happening. So just again, I'm not hoping for this,
I'm not wishing for this happen. I just see the
writing on the wall, and I think many of you
will as well. When leverage is being used like this
at a high rate by many different companies, and everybody's
trying to raise to get their stock arbitrage, you know,

(18:56):
their price up from holding the asset. Something's not gonna
go right, and not every company's you know, ran the
same way at the same standard, same CEO, making the
right decisions things like that. So again, make sure you
put your thinking cap on here, and if you are
buying the stock of some of these companies, know what

(19:17):
you're doing right, because it's it's gonna get tough in
the bear market. Some, like I said, will do well,
especially those that have like proof of steak assets like
Ethereumarcellona on their balance sheet because they can keep earning
the rewards to the bear market. But you know, I'm
a bit concerned about the bitcoin companies because there's no yield,

(19:40):
natural yield baked in there. So anyway, I digress. Just
keep an eye out on this. But folks, shows not over.
Bull markets still on. Be patient. Things are moving in
the right direction. We are seeing mass adoption and building
like never before. And of course Congress getting ready to
get MARCRA structure bill pass into law, so it's going

(20:03):
to be an exciting queue four. In my opinion. That's
the news. Folks. Let me know what you think. Leave
your thoughts and comments below. A great way you can
support me is by subscribing to my free email newsletter.
It's one hundred percent free. Check out my book on Amazon,
it's available in paperback and digital, and my course at
mycryptocurse dot com. Folks, I appreciate you all, Thank you

(20:23):
so much for tuning in, and I'll talk to you
all later

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