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Hello this is Matt on the moon Lambo Channel The Spot Bitcoin ETFs have been Approved and the SEC absolutely bungled The delivery of the of the message no Surprise especially on the heels of the Hack that occurred yesterday I'll Explain the specifics and um just so you Know here at the Outset this almost didn't happen this There was a vote on whether or not to Approve this it passed by one vote kid You not these people my God It's a Christmas miracle we got this Damn thing apparently it's completely Ridiculous uh also I'll briefly this Isn't going to be a video where I go in Depth in terms of of you know what's Happening in terms of price action but I Will note here at the outset and I'll Just briefly speak on it uh price is not Really doing much anything it's I mean It's not a bad day it's a green day Overall but uh not exactly Hot uh I got perspective from a number Of individuals including a couple Ripple Executives but before going further I do Want to be clear I do not have a Financial background of any kind I am Not offering Financial advice and you Definitely should not buy or sell Anything because of anything I say all Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and
Just for fun so here's the headline from Coin Telegraph spot Bitcoin ETF receives Official approval from the SEC the US Securities and Exchange Commission has Officially approved the United States First regulated spot Bitcoin exchange Traded funds just one day after a false Announcement posted from the sec's Official Twitter account red havoc on Markets on January 10th the Securities Regulator approved the 19 B4 Applications from Arc 21 shares and I'm Not going to name the rest of them you Know blackre they're on your screen There uh approving the rule changes that Allow a spot Bitcoin ETF to be listed And traded on the respective exchanges The filing was available to download From the SEC website for several minutes Before an error 404 message appeared Later because coming live through a Different link um and so actually I Don't think that part's quite true Because everybody was sharing the same Link and at first when I was clicking on It I was getting the same error 404 Message on the SEC website but then the Link just started working and then so Then I shared the link and then shortly After that it it stopped working and People responding to to my post sharing That and saying hey we're getting era 404 here and I'm like well just give it Time and then then the link started
Working again later for those people so It just it seems to me like what's most Probable anyway is that the their Website was just completely Overloaded anyway pieace continues the Historic approval paves the way for the First regulated exchange traded product In the US to give investors direct Exposure to the price of Bitcoin without Requiring them to buy it or worry about Self- custody investors will buy shares And ETFs holding Bitcoin as its Underlying asset it was unclear whether The error 404 showing the SEC approved 11 spot Bitcoin ETF filings was the Result of the commission pulling the the Document or an overload in site traffic ETF analyst James Seer posted on X Formerly Twitter that the commission may Not have intended to release the Approval document at the time it did but Would likely repost it anyway yeah so Again I don't know for sure I'm not Exactly uh the systems administrator Type but uh given that it was in and out And in and out on the same link despite What they said here uh my guess is that It would just be some sort of overload In terms of traffic here but e either Way whether they pulled the document or Was an overload in traffic the SEC Bungled the delivery of this it was not Made clear there was a lot of confusion In the markets early on um it is what it
Is I mean this coming off the heels of Them getting hacked yesterday now the FBI is investigating that and I made a Video already talking about how ex did a Preliminary investigation you it's my Very last video if you want to check That out feel free is what it is but the Damn things approved and that's Fantastic and so I wanted to share with You my very favorite meme personally I've seen a ton of memes there will be More in the future the one on your Screen right now is my favorite it's From Groundhog Day the 1993 smashit Movie you guys know the premise of the Movie if not just Google it but here you Go it reads as follows well it's Bitcoin ETF day Again you gotta love this we got two Bitcoin ETF days in a row I thought that Was rather fantastic so I shared that um Here you have a post from Fox Business Journals H terret who wrote this is at 58 p.m 5:18 p.m. central Time today new Turns out the SEC did hold a vote on the Bitcoin spot ETFs here's the voting Breakdown and so you had the two Republicans which would be Hester Pur And ueda approving this and the two Democrats uh two Democrats not not Approving voting against this krenshaw And Lazar Raga maybe that's how you say That name and uh and then there's Guinsler who voted with the Republicans
And it's just it's so interesting that I Mean these should be situations where You know their political party shouldn't Matter but it's all too frequently There's a division among party lines and Then a Tiebreaker it's it is what it is just an Observance here but look one if one one Vote like giner just didn't want this Thing it wouldn't wouldn't have gone Through now he's the one that would have Been raed over the coal so I guess kren Shaw and the other one laar Raga I guess They didn't personally care but I think Gins understood that it would be a Nightmare for him personally if this Didn't go through so he did end up going Through with this even though I don't Think he actually really wanted to but The writing was on the wall after the SEC lost the lawsuit uh with grayscale But it was that close folks one vote off And oh Man uh and so I I also put out a poll on X here at 12:13 p.m. so this would have Been uh Less Than 3 hour A Little Less Than 3 hours before the news broke that There was official approval we all knew This was coming pretty much but I wanted To get an opinion from from All Sorts You out there so I ran a Poll for 1 hour And I asked when the Bitcoin ETF is Approved what will the market do poll Live for only 1 hour buy the news is the
First option or sell the news and this Is again to 12:13 p.m. central Time 954 Votes which isn't bad for 1 hour uh 45.6% responded by the news thinking the Price would go up and 54.4% responded With sell the news that was the Expectation right before this we didn't Really get Either here we have at 3:04 p.m. I Posted the following it has been roughly 15 minutes since the news broke that the Bitcoin ETFs are approved and so far no One is buying the news or selling the News did the hack yesterday taint the Market reaction that we're seeing today Bitcoin is no more volatile right now Than it has been all day okay and so I Was openly questioning what would happen Today since we did have uh the the fake News breaking yesterday and it was a Sell the news of it for 15 minutes the Market believe believed that there was An actual approval and it did what Actually more or less what I thought it Was going to do cuz my bet um and I I Made it publicly known on X and on YouTube uh that my four fun guests was That we'd have uh Market probably Spike Up a bit and then in very short order Move back down and it was it was a net Loss inside of those 15 minutes it was Extremely volatile very quickly and so I Openly questioned in a video yesterday Uh is this uh the fact that this
Happened when we get the approval Tomorrow is that going to impact what Happens today and I think that might be The case because if you look at the Price action here I'll pull up a Bitcoin 24-hour chart this is just a live coin Watch you can see let's go to around 250 P.m. because again that central time That's this is this is when the news Broke 250 uh it actually went down Slightly but then quickly went back up a Little bit and then back down and then Up and down so there's been some Volatility but this doesn't look like Anything special this isn't a buy the News event this isn't a sell the news Event and at 7:41 p.m. central Time at The time I'm recording this so enough Time has passed we should have seen if It were going to happen wouldn't we have Seen the big movement if it were going To be based on the news breaking here to This point at least it hasn't been Either and I'm just again perhaps Guessing that the the fake news breaking Yesterday probably had something to do With that because that sounded like like Honestly the response yesterday that Seemed more like what would be a Reasonable response for news of this Magnitude breaking but then when it Actually broke today Market's like That's what it looks like to me and so Um somebody wrote to me and said trading
Starts tomorrow which is a perfectly Fair Point there is no ETF trading Bitcoin ETF trading today uh but even Though it's true and it's a fair enough Point that that's not my point I wasn't Expecting volatility today because of That of course not I was expecting it Because of regular Market participants And so I wrote yeah but the news caused A market reaction yesterday but not Today so is what it is here's a post From pentoshi a lot of people Disappointed in the Bitcoin price action Following the approval of course part of It was priced in it's why we rallied so Much what we don't know is the real Demand following approval if you did Well up until this point you did your Job the first days are unlikely to Matter in the grand scheme Bitcoin will Have a multi- deade twap with theod Periods of both high and low demand it Is finite Fiat is infinite yeah I think That's a good enough Point uh we'll see What kind of volume comes through um Some people have big expectations Granted expectations and and my made my Position known I just think that this Matters tremendously over a longer Period of time we we'll see what the Market does tomorrow uh there's this Post from Ripple CEO Brad garlinghouse The significance of this moment cannot Be overstated congrats to all who have
Worked to get Bitcoin spot ETFs approved Today's news is further legitimization Of crypto as an asset class I expect This will be yet another Catalyst for Institutional investment adoption Ideally leading the industry to focus Outside primarily speculative to broader Real world use cases underpinning that Legitimization fair enough Point uh here We have a post from Attorney James Murphy AKA metal law man on X and Hester Pur just issued another scorcher Excoriating Gary gensler's lead Leadership quote our arbitrary and Capricious treatment of applications in This area will continue to harm our Reputation far beyond crypto end quote And then he had another quote from her We have alienated a generation of Product innovators in this space end Quote spot on happy to see that uh there Is this post from Stuart alard ripples Chief legal officer commissioner Pur is Spoton this long overdue approval comes Only because the courts checked an outof Control regulator gensler's Battle Royal Um against uh Krypto has turned the SEC Into a caricature not to be trusted by The public policy makers or judges oh Absolutely that's true uh then there was This another post from James Murphy Attorney James Murphy said a statement From Gary guinsler about approval of the Bitcoin ETFs has just been released he
Basically admits that the DC Circuit Court of Appeals forced his hand and he Finishes off by reminding everyone Bitcoin is used for all sorts of Criminality yeah and the whole post it's On your screen right here I'm not just For the sake of time I'm not going to go Through and read this if you want to It's right there though but it's the Type of crap that you would expect from Him it it really is that that's it's It's what you think there's also this Post from uh Attorney Fred rispoli is a Quote from guinsler that he's sharing as I've said in the past and without Prejudging any one crypto asset the vast Majority of crypto assets are investment Contracts and thus subject to Federal Securities laws end Quote what a douche Kinsler is my God And then Ry says he then cites eight Cases his loss against Ripple was not Included you got to love that you got to Love that ah so we'll see what happens Here at the time I'm recording this Bitcoin 46,6 32 bucks uh I mean honestly The price is about what it was roughly An hour before the news broke even so It's like it went down it went up and Down it's just it hasn't done anything It's just moving sideways so there's That I Guess I just think it's tainted because Of what I happed yesterday I think the
Price the market reaction is Tainted Because of that so but that's fine you Know it's cool to not have a dramatic Selloff at least we'll see see what Happens though it doesn't mean there Can't be a massive pullback still in the Relative Relatively you know short term relative Short term here um more on price action In a separate video because that's not The the purpose for this uh video um Although I will say just to wrap this up Even if there is a pullback I still Think we're going to have a monster of a 2024 so it wouldn't scare me in the Least personality but uh I think the Best is yet ahead I'm not a financial Adviser you should not buy or sell Anything because of anything I say or Right that would be a very very very bad Idea until next time to the Mo Lambo
