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Hello this is Matt on the moon Lambo Channel and this is a cool headline from The Crypt basic Valkyrie executive Believes xrp ETF will get approved Before ethereum ETF now I'm sure many of You are aware of my position broadly Speaking on altcoins getting approved For ETFs I don't think it happens honor Kim Jong guinsler I do believe that xrp And Ethan a tons of other coins will Ultimately be approved for uh for for Spot ETFs I believe that's a virtual Inevitability um you know in terms of The short- term are we going to see Anything like that in the calendar year Of 2024 it's possible I don't think it's Probable in fact I think that's not Remotely likely I think that guinsler Clearly only approved the spot Bitcoin ETF because of uh you know the the legal Fire that he was under especially with What happened in the uh the grayscale Law suit I think that was that was Pretty obviously a Tipping Point but uh You're going to get it and like the Degree to which this will materially Impact in a positive way the long-term Viability of xrp it's another one of Those things where I think it's just Hard to overstate the degree to which It's important uh but over a longer Period of time I mean the amount of Money that will flow in yes and it's the Same thing it's the same stuff I said
Before we got the approval of the spot Bitcoin ETFs I said you know I think It's probably a little bit too hyped up In the short term and then people aren't Thinking big enough over the long Term and I think it's going to be the Same for xrp crazy amount of money is Going to flow but here like this is not Some sort of Fly by Night executive this Is a valkyrie executive saying yeah xrp ETF might happen before ethereum he Thinks that's he thinks there's a really Good chance of that in fact um and mind You this particular executive I'll get Into the specifics in a minute here but You know he's at this firm Valkyrie Which did get approved for a spot Bitcoin ETF by the SEC so again not some sort of Fly by Night individual this is some reasonable Insight and perspective from somebody Who is an industry professional 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 or right I'm just an Enthusiast who enjoys making YouTube Videos about crypto related topics but Just as a hobby and just for fun all Right so here's valkyrie's website and Here you can see the ticker symbol for Their spot Bitcoin ETF is brrr which
I've always thought is hilarious you Know you get it I'm sure you guys get it Right money printer go Burr and it's a Bitcoin you get it yeah okay so I Thought that was a good one I thought That was a pretty good one here and I'm Not sure what their assets under Management are now but even before this Even you go back like a couple years They still had like over a billion Dollars in assets under management so Like I said not some sort of Fly by Night uh entity or executive here piece Reads as follows step McClurg the chief Investment officer of ETF issuer Valkyrie has expressed that an xrp ETF Could become a reality before that of Ethereum McClurg voiced this sentiment During a fireside chat with Fox Business Correspondent eler terret at the digital Wildcatters Empower conference terret Called attention to the view in a recent Post on x per the disclosure McClurg Believes the US regulator could Ascent To an xrp exchange traded fund before Endorsing that of ethereum the fox Correspondent revealed that mlar reached To this conclusion following recent Developments concerning eth's regulatory Status in the United States and so That's him on the screen um yeah here Yeah he's on the website here uh Chief Investment Officer um anyway pece continues though
Per the Disclosure oh wait sorry I meant to I Was at this spot uh recall that a week Ago uh the Crypt basic reported that the USC was working underground Gathering Financial information and other records To potentially classify ethereum as a Security as it did with xrp in 2020 the Development has unsettled the crypto Scene coming as a surprise especially Considering the known relationship the Founders of ethereum have had with the SEC leadership however at press time There is no official pronouncement from The SEC regarding eth BNA security Meanwhile valkyrie's executive McClurg Believes the litigation could eventually Materialize and that the development Will impact the existing application for The ethereum based spot ETFs as teret Disclosed mcer does not see approval for The spot e ETF by the latest May Deadline yeah um so I agree with that And I made my point pretty clear at the Beginning part of this video as well as Many many many other videos I just I Don't see it I just don't see it Happening here now as far as whether or Not you know the ethereum folks Including uh the an theum Foundation are They going to end up getting sued by the SEC well I guess let's wait and find out Uh I will not be surprised in the least If that does come to pass which by the
Way I do not want to happen but uh Should that occur it won't surprise me It wouldn't surprise me in the least There are different people in charge Right now of the SEC than back uh when When uh you know Billy boy himman gave Us a theory and free pass speech you Know these people are not friendly to Eth not like pre the previous Administration was right and and also Keep in mind when the SEC starts getting Into these investigations to this degree I mean at least as it pertains to crypto As far as I can tell they typically Sue When it gets this far yeah they Typically Sue so could something happen Behind the scenes to make them change Their mind sure but I'm just saying I Will not be surprised in the least if Indeed there is some uh some actual Litigation here on this anyway peace Continues on the other hand he expressed That the crypto Community would Witness Has spot ETFs for Litecoin and xrp Before that of ethereum this view is Further strengthened by the fact that Xrp has secured a clear regulatory Position in the US I wouldn't you know It and I think he's making a pretty Logical position here the fact that xrp Has regulatory Clarity is materially Significant to the way that it will be Treated absolutely especially on an Institutional level 100% it makes a ton
Of Sense um now there was also this uh Where's that yeah here it is from the Crypt Basic Black Rock CEO says ethereum ETF can still launch even if eth is Declared Security I just just it's kind of funny Reading this stuff especially having you Know being in the xrp community knowing Great detail what happened with the Ripple lawsuit following that thing more Intensely than any lawsuit I've ever Followed in my entire life because I Skined the game so I've been very Materially interested and I covered it Very thoroughly on my channel over a Span of years knowing that it's not the Asset itself that is ever the security Unless it's in the literal definition of Of U of of what a security is uh it's Just kind of silly to see people talking About eth itself being a security it's Like they still don't know that everyone In our community knows it's not the Asset itself but they're still talking Like this it's not that it's it's about The totality of the scheme and the way In which certain transactions are occur How they're you know how they're Sold anyway anyway pece reads as follows Black Rock CEO Larry Fink has expressed Confidence that the firm could proceed With an ethereum ETF launch even if the SEC declares eth security earlier this
Month reports emerged that the United States Securities and Exchange Commission was pursuing a campaign to Label ethereum's native asset eth a Security the implications of such a Designation remain a topic of Speculation for the crypto Community Especially in connection with its impact On the pending applications for a Spot-based ethereum ETF nonetheless the CEO of the world's largest asset Management company Black Rock seems Adamant that labeling e asset Security Will not prevent the company from Launching an ethereum-based ETF black Rock is one of more than half a dozen Fund manager seeking to roll out such a Product for ethereum after a resounding Success with the Bitcoin ETFs Larry fin Shared his thoughts on the sec's rumored Move while speaking in a recent Fox Business interview while being hesitant To comment on the subject in a broader Scope think told Fox correspondent Charles gasparino that a security Designation for eth is not going to be That de deleterious for the prospects of An ethereum based ETF when quiz further On whether Black Rock black rock can Launch the ETF even with ETF tagged as a Security Larry Fink responded I think so Yeah okay so there you go looks like They try to move forward with it anyway Now of course they have to get approval
From the SEC so there's that A lot of hurdles here but you know if Time's not a factor if you just ask me Will it happen absent a specific time Prediction I say yes it's going to Happen same for xrp and it's going to be Incredibly meaningful but yeah I'm with That I understand where uh where the Where the ex Valkyrie executiv is coming From absolutely and I'd love to see it As an xrp older I would love to see xrp Get a approval before E and I'm an eth Holder too just I have a way bigger xrp Position that's all 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 Moon Lambo
