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- 📈 MainSpring ETFs- 75bp Cut? Are BTC ETFs real?
📈 MainSpring ETFs- 75bp Cut? Are BTC ETFs real?
9.17.2024 | Daily ETF Market Morning Spring
Tuesday, September 17th, 2024
Good morning investors,
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Data reflects end-of-day ETF market data for Monday, September 16th, 2024
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Yesterday’s Empire State Manufacturing Index beats expectations.... +11.5% vs -3.9% expected.... but nobody cares.... 😅 🤣
What’s going on in the pond?
25bps, 50bps, or 75bps of Cutting?
Yesterday’s Morning Spring mentioned the growing uncertainty around whether the Fed would cut 50, or 25 bps. A small group within the government, led by Elizabeth Warren, is pushing hard for the fed to cut 75bps! What the Fed will do remains top of mind for the market and investors. At this point no matter what happens assets will find a way to overreact to the Fed’s ultimate decision on first cuts.
BlackRock, Coinbase, and the Bitcoin ETFs:
Coinbase was caught in a crossfire with accusations of whether or not BlackRock holds real Bitcoin in their ETFs! This is hilarious to me because the GoldBugs have been beating the drums on this same issue since the inspection of “paper gold” ETFs, which dramatically increased the claims on real gold….
Coinbase CEO, Brian Armstrong, did his best to assure the market this is not the case, saying: TRUST ME! 🤣
People keep asking me if I believe him. Yes I do. Mostly bc BlackRock isn't playing around folks. They would flip out if $COIN was screwing around w their btc, plus it would violate the '33 Act. The reason this 'theory' is a thing is two-fold: 1) Bitcoiners looking for scapegoat… x.com/i/web/status/1…
— Eric Balchunas (@EricBalchunas)
3:05 PM • Sep 16, 2024
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- Addison
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.
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