“Forget BlackRock, What’s Coming Is 100x Bigger…” – Matt Hougan #Finance

you know first I think you’ve probably heard me say this we’re in the ETF era of Crypto so I think they’re going to be

style="font-weight: bold; color: #1a73e8; text-decoration: none;">ETFs on a wide variety of etps xrp specifically you know it has a very Vibrant Community it’s been around for many years and sustain that Community it has a a novel consensus approach that’s been working at you know

low Inflation rates and it has interesting and evolving use cases my general view is we are still in the early stage of Crypto and no one knows exactly how it will play out

and so we want to offer investors access to a wide variety of Assets xrp is one with a strong community and a strong track record and a strong history while the recently approved Bitcoin and ethereum spot Bitcoin exchange traded funds continue to Dazzle the

href="https://cashnews.co/markets" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Markets two firms have filed with the US Securities and Exchange Commission for spot xrp exchange traded funds color: #1a73e8; text-decoration: none;">Crypto asset manager bitwise submitted its application to the SEC on September 30th with the aim of establishing a fund that would hold xrp in the same way it’s Bitcoin and etherum #1a73e8; text-decoration: none;">ETFs Due about a week after bit wise’s announcement Crypto investment firm Canary Capital has also filed for a spot xrp ETF

according to reports the canary xrp ETF will track xrp’s value using the CME CF Ripple dollar reference rate a once a day Benchmark index price for ripple as with the bitwise xrp ETF according to SEC filings during a recent interview with Paul Baron bitwise CIO Matt hugan explains why he is

bullish about the xrp ETF and how he believes such a product would positively impact the overall Cryptocurrency industry according to hugan the xrp community is one of the most important

positives to be considered and they have consistently shown their strength even against anti-Crypto Regulators like like the SEC hugan believes another legal Victory is incoming and when it

comes the SEC will have no choice but to properly look into approving a spot XR PF without bias the bitwise CIO with Decades of experience in the ETF industry also highlights the importance of these products to help growth and development of the

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Cryptocurrency industry in and out of the United States as we bring you clips from the interview please take a little time to like this CashNews.co subscribe be to the channel and turn on post notifications for more CashNews.cos

like this everything you do helps boost the YouTube algorithm and immensely contributes to the Channel’s growth thanks and enjoy the CashNews.co If you sort of abstract out and think about none;">Crypto big picture it’s introducing two things into the world it’s introducing sort of public money and permissionless Finance and it’s

introducing public compute and smart contracts and those are both really big breakthroughs and xrp is interesting in that it has aspects of the public money side and also increasingly assess access of these uh s smart Contracting style applications I know it’s not not fully there but it

offers a legitimate shot on goal on those two big new introductions and I think that’s the reason it’s been a sustained asset and that’s the reason you see the market Capitalization which is of course the reason that you see it high up the list right it’s

been around and it’s have had you know staying power I would note there are a lot of Crypto Assets that have been around and are no longer in that position on the list

right some of the OG Crypto Assets they all haven’t sustained that interest to this day and xrp is one that has right yeah U more so than other Assets

you might point to funny thing about Crypto is it’s one of the only Markets

where people are still primarily focused on single exposures if you look at the Equity Market or you look at the bond market no one’s buying one stock they’re buying a basket of stocks no one’s buying one Bond they’re buying an ETF of Bonds

our view is that the same is going to be true in the Crypto Market As you move from primarily retail to primary institutional Capital they’re going to want Diversified

exposure that’s the way institutions invest that’s what they’re taught in school that’s what they’re taught in their careers and that’s a dominant Paradigm so I think you’re going to see more of these Diversified exposures more of people wanting to make a

bet on Crypto and not make a bet on you know Bitcoin individually or ethereum individually let’s just make a bet that color: #1a73e8; text-decoration: none;">Crypto and public blockchains are going to be more important in 10 years than they are today that’s a bet I have very high confidence in and the way you would Express that is a diversified Portfolio I think there’s a major

unlock coming in the stable coin Market stable coins are killer app of Crypto they’ve gone you know from zero to $150 billion without regulatory Clarity if you listen to Congress the

thing they agree on most in Crypto on the Democrat and Republican side of the aisle is stable coin legislation I think the US wants stable coins it’s a way to export the dollar

it’s a way to sell more Treasury Debt it’s a way to improve Finance big #1a73e8; text-decoration: none;">Finance wants to get into stable coins they’re looking at tether making more money than Goldman Sachs and saying hold on we want a piece of this pie so if you have Wall Street text-decoration: none;">Crypto and Congress all aligned I have a very high confidence that we’re going to see breakthrough stable coin legislation early in the new Congressional season and if we do that I think it’s Katie bar the door I think it’s Bank of New York I think

it’s JP Morgan I think it’s EV Visa I think it’s every major and and so I think a trillion dollars in two years is probably conservative conservative right there’s there’s 10 trillion in Money Market funds stable coins are going to be a better version

of that there’s so much dollar deposit um and that’s just in the US you go globally and you can access dollars I think a trillion dollars is easy so I would take the pro side of that poly Market if it opened and if The Regulators let me invest in poly Market one thing that certainly

stands between bitwise and an approval of its xrp ETF is the ongoing legal battle between the regulator and ripple the lawsuit which centers on the sale of xrp primarily whether it is a security or a commodity will determine if Ripple and firms like bitwise can freely sell the

href="https://cashnews.co/crypto" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Cryptocurrency to investors without the sec’s intervention experts believe the sec’s legal battle against Ripple will follow in the footsteps of its battle with a theum and consensus

which aimed to prove the largest altcoin was a security but the regulator summarily dropped in July last year a judge already ruled that secondary xrp sales to retail customers did not violate Securities laws and ripple officials are positive that the sec’s appeal will also

be tossed out by the courts while speaking with Fox Business a spokesperson for Canary said we’re seeing encouraging signs of a more Progressive regulatory environment coupled with growing demand from investors for sophisticated access to

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Cryptocurrencies Beyond Bitcoin and ethereum specifically investors seeking access to Enterprise grade blockchain Solutions and their native tokens such as xrp hugan is just as optimistic during his discussion with Baron he noted

that Crypto has done exceptionally well when challenged by the SEC in court with ripple being at the very Forefront of these legal victories he is certain that this Victory will be repeated if

the SEC proceeds with its appeal during the discussion he also shared generally bullish views regarding the spot Bitcoin and ethereum ETFs here are more clips from the interview I I think

it’s great to all those two out I mean look my position and I come from an ETF background right before I moved to bitwise seven years ago I Ran etf.com So This is my my home turf uh these are among the most successful ETF launches of all time I mean the Bitcoin

href="https://cashnews.co/etfs" style="font-weight: bold; color: #1a73e8; text-decoration: none;">ETFs are the most successful of all time they’ve pulled in $8.5 billion dollar in Assets that’s you know three to four times over the previous record for the fastest

growing new ETFs so it’s a grand slam on the eth side you’ve seen a more nuanced story because you had a lot of money coming out of the grayscale product but if you look at the new

etps they’re doing exceptionally well I know black rocks is over a billion here at bitwise we’re a quarter of a billion dollars you know those are among the most successful ETF launches this year so I think whichever way you look at it these are a grand Sam success and the key thing I

want people to know is that an ETF land and typically the first year is the weakest year usually the second year is bigger than the first and the third is bigger than the second and the fourth is bigger than the third so this is a down payment and it’s a really big down payment and um I think

it’s I think I think actually they’re going exceptionally well before we had spot ETFs a bunch of firms filed to offer future based

style="font-weight: bold; color: #1a73e8; text-decoration: none;">ETFs and we were one of them but once you have spot ETFs those are more efficient than Futures based

href="https://cashnews.co/etfs" style="font-weight: bold; color: #1a73e8; text-decoration: none;">ETFs so what do you do I obviously can’t speak Beyond what’s in the filing but what the filing shows is we’re converting those strategies to rotate between let’s say Bitcoin

and treasuries so if the market is in a positive momentum period where bitcoin’s price is rising and the 10day moving averages above the 20 they’ll be in Bitcoin and otherwise they’ll be in treasuries if the market is falling I would just say you know momentum is the most

established factor in all asset classes in stocks in Bonds in Real Estate in Comm I ities and indeed in Crypto there’s a big academic literature on that

and so we’re just trying to offer a new strategy that captures that momentum aspect for people who are worried about those big pullbacks in Crypto which you know quite honestly is a lot

of us so I think this idea is to rotate out when the Markets are in that position the SEC has up to Mid 2025 before it has to make a final decision on the spot xrp ETF application but the

results of its initial reviews are expected before the end of the year in addition to the ETFs hugan is generally optimistic about the entire

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Cryptocurrency industry recently predicting that stablecoins AUM will Top $1 trillion by the end of 2026 or even 2025 in a less conservative scenario do you share his optimism about a spot XR PF please drop your replies comments

and observations in the comments section below if you like this CashNews.co don’t forget to smash the like button subscribe to the channel and check out our other CashNews.cos on none;">Cryptocurrencies and the overall global economy thanks for watching