 Welcome to Digital Asset News. Take a top stories in crypto and bring out a bite-sized piece of today. Just like the thumbnail suggests, there's some pretty big things going on and $110 trillion could potentially be make its way into the market. So everything's great as far as the ETF, but I think there's a bigger story right around the horizon. So we'll take a look at what's going on there. We'll take a look at of course the Bitcoin ETF that has been exceeding expectations, including my own. We'll take a look at Van Eck and their new ETF coming about. Then also a good story as far as the macroeconomics. Take a look at as far as Russia replacing the US dollar with something I think you can guess what that is. So we'll take a look at all those things. But first, let's take a look at what is going on into the market. And today is a pretty great day. All the things we've been talking about, all the things we've saved up for some of us like myself, dollar cost averaging for four plus years, not selling too much along the way. These are great days. These are the days that we live for and it's looking pretty good. We've got a market cap of almost $2.72 trillion somewhere around there. Who knows? $3 trillion can be brought around the corner. Things happen to go pretty quickly as soon as we just get over a couple of hurdles. And this is one of those. So today we've got Bitcoin price at almost $66,000, almost $67,000. Ethereum crossed over the $4,000 mark. Look, everything's up. I can't even tell you how great it is today. Today is just this is kind of like what it felt like in 2017 when you just had just days and days and days of just positive energy and things were going up. It didn't last that long, but those days were, I mean, they are euphoric. And this is the days that you live for as far as as an investor. And these are the days that take that W, that big fat win. So that's essentially what is going on in the market. Everything's up. Bitcoin's up at 10%. Sweet Marion Joseph, I can't believe that. Terra, 14%, and so on and so forth. So pretty happy there. So if we take a look at, I mean, the market's up. Now let's take a look, let's just peel behind a little on-chain data. And if we take a look at, this is an equipped or quant, all exchange future open interests is at an all time high. These are all different exchanges. We're going to take a look at a little deeper. And then also, I think this is more telling, we're at a three year low for the amount of the exchange reserves of Bitcoin. So meaning that as people start to take off their Bitcoin off the exchanges, why do they do that? Because they're not selling. And if you have this off the exchanges at a three year low, it means that not only are we going up in price, but people are like, nope, you're not going to get any more of my Bitcoin, that is it. And also, we take a look at shorts versus longs right here from BYBT.com. You can see that green of the longs and the pinkish is the shorts. In the last 12 hours, you see more of an inclination towards people going long, which is kind of, it's eerily impressive, because usually when we have a massive outpouring of price appreciation for Bitcoin, you usually see a little bit more of the shorts, but that's not the case today. I think people are really looking that things are doing pretty well. And then also, if we take a look at the PyCycle Top, which is one of my favorites, because it's been right four times in its existence, and because it's called out the tops four times. You got two in 2013, and what happens is this yellow line, the 111-day moving average, crosses over the 350-day moving average, and it just, every time it's been correct. So it's happened twice in 2013, once in 2017, and it already happened once in, what was this, April, when we topped out. And then you see over here, let me bring this down, is that because of this massive dip that we felt in July, because of that, the moving average goes down to 111-day. And now we've got a ton of room to run up to 100, 120, 150. I've always thought it was going to be 130K, but I could be wrong, but it's looking pretty good. And over the last couple of days, I put out a couple of videos about my apprehension for this ETF, and I didn't really know which way I was going to go. It was just going to be hands-off, and I didn't really want to sell a ton. I didn't want to buy a ton. I just wanted to sit back, because all the hard work that you do is a dollar-cost average. It's not done here. It's done when nobody wants to do the hard work. When you're sitting there and there's no price appreciation, everything is flat, or it goes down, or you buy the dips, that's when the hard work is done. This is not the time for the hard work. That time's passed. Now it's just time for you just to sit back and go, I did my job. I did my job. It was hard work. I got laughed at by friends, family, and everybody else around me. Doesn't matter to me. Who's laughing now? So that's where we're at, and it's a pretty damn good day. I'm pretty happy about that. So that's what's going on there. And lastly, I just wanted to take a look at this, oh my god, this sweet candle right here. Look at this candle. We're on the 4-hour, and of course the RSI is a little bit high. We are a little bit over-bought, but look at this candle. This was not too long ago, the 20th of October of noon. You get one from $63,000 all the way up to $67,000 in the span of two to three hours, somewhere in the 4-hour time range. So to me, that's amazing, and we'll see how it all pans out. But there's some big stories to get into. And I think ETF is great, but what I really want to talk about is this $110 trillion incoming. And when I saw this, I actually sent off to Alex Masioli, Alex Masioli's show, and I'm like, hey man, is this as big as I think it is? And he goes, look, I know the people there. And he goes, this is a bigger story than I've ever heard in the last week or so. ETFs are great. And I was like, that's what I thought. So when I'm looking at this, I'm like, this is a pretty big deal. What is it? $110 trillion can now offer crypto trading to clients and the interactive brokers. And we had talked about this two, three months ago when interactive brokers came in and said, we're going to start to do cryptocurrency if we're like, okay, whatever. But here we are today. This will be the slow moving catalyst where the ETF was the fast mover. This is going to slowly bring those people in, and I'm going to tell you why. So Global Investment Firm Interactive Broker Group announced Monday the launch of crypto trading for RIAs, registered investment advisors in the US. The offering will enable RIAs to trade in custody, trade in custody, trade and custody, Bitcoin, Ethereum, Litecoin, and B-Cash, Bitcoin Cash, excuse me, via Paxos Trust. And they will be able to manage their clients crypto holdings alongside, check this out, the traditional investments, stocks, options, futures, bonds, mutual funds and ETFs. If you are a good RIA, you will look to the future and say to yourself, look, I don't really understand cryptos that much per se, but I see where things are going. And if we allocate a small portion to your portfolio, Pete, whatever your name is, I think we can offset some of these balances because it's so volatile. I think 1 to 2%, 1 to 3% is not going out of the way of craziness. So let's just give that a shot and we'll go from there. If they do something like that, you got 110 trillion, you got a lot of money moving in, this could be big. So 14, and of course the question is, well, how many RIAs out there? 14,000 investment advisors registered with the US SEC have reported nearly 61 million clients in 2020. So 14,000 advisors, 61 million clients, not too bad. The industry is approximately 110 trillion in assets under management. That's a lot of money that needs a home and I've got a great place for you. To finish up, Steve Sanders, Executive Vice President of Marketing said the same thing I just said. He says allocating a small percentage of assets to crypto as part of a well-diversified portfolio has steadily become more commonplace and advisors may wish to recommend crypto to their clients. Yes, that will be great. So this is a bigger story than I think what people have been talking about because everybody's so caught up in the ETF and it's a great story, don't get me wrong. But I think there has to be growth and there has to be a new mountain to climb and I think this is one of those catalysts that can push us to even higher heights. So I'm going to think about that in the comment section. Let's move on to our next piece, the Bitcoin ETF, which everybody loves. I love it too. And I've been a little apprehensive, as I said before, but you got to understand, if you've been here since 2021, if you just got in 2021, you're like, this is a no-brainer. Why wouldn't they introduce an ETF? It's because we've been here in the same song and dance since 2012. Did a video about this about a year ago. That's Roger Beer from Bitcoin Cash fame. And he did a video in 2012 where he talked about ETFs right around the corner. And guess what? 2013, right around the corner, 2014, right around the corner. Before you know, you're like, I've heard this song and dance before. That's why I was so like, yeah, sure. Once we got this, it's like the shackles are off. And now we're going to see a lot more an increase in adoption, I think, because people will say to it and go, wow, it's an ETF and it was approved by the SEC. Well, it must be safe. So that's what the SEC is supposed to do, right? Protect the consumer. So if they did that, then maybe I should get into this something like that. But again, we saw this in 2012. I'll link the video in the end. And it's pretty funny just to watch Roger talk about it. Like it's like, it's almost here, guys. It's inevitable. So when we talk about that, these are big things. So the ETF, it is one of the top ETFs of all time. Here's what's going on. So this looks like the final tally is going to be around a billion or 990 million in trading for BITO. That's a ticker name on its first day of trading. Eric Balchunis, I think I nailed that. The senior ETF analyst for Bloomberg said, this is easily the biggest day one of any ETF in terms of natural volume and trading more than 99.5% of all TFs, including some other big ones. This defied our expectations. I think it defied a lot of people's expectations, even my own. Balchunis stressed that the result of the day's first Bitcoin performance in the US makes life that much harder for the next in line ETFs to succeed because every day, once an ETF gets known and there's so much liquidity, it's hard for anybody to really put their money into and go, well, there's already this other one. So why do I need you? So that's why it was so important to get this very first one. So I tip my hat to ProShares to get this thing done because the next ones, it's going to be an uphill battle. I mean, they're still going to make money and that's good for them, but not like they would have been for the first. So we'll just say that that's going to be a bummer for our next story. And then lastly, it says, what does this mean for assets? My guess is about half of this volume will end up as a flow in the next two days, probably looking at $750 million by the end of the week, something like that tomorrow's volume will be interesting. And if it comes down to earth, and I can kind of see that mentality, it's the same mentality when Coinbase went public, everything was going pretty good. And then all of a sudden it's down to the ground. So we take a look at the BITO, the ETF. You can see that this nice little graph here, let me go over here so I can see it. You can see the whole thing. So if we take a look at the graph itself, and we pull it over, everything started yesterday. Okay. So today's the 20th of October, 10, 19, the morning we started around 40 bucks, 40 hours per share. Then it just kind of a little dip here, not big action. Then it just went sideways a little bit. And then it just started to really pick up some steam. And around the close of business, right around here, 10, 19, we were hitting around 41, 80, almost 42. Then the next day when everything opened up, we're at 42, 16. And then we just took off like a rocket. And before you know it, we're at 43, almost 44. And over a billion dollars changed hands on the first day. I'm curious to see what happens on this day. A little bit of sideways, but it's much higher than what we're at. So these things are doing well. I expect to see some more action coming up. But who knows? I can cool off, but already it's a huge success. And these are the things I like to see. So let me know what you think about this ETF. It looks like it's been a pretty good one so far. And what's not good is second place. And that is Van Ek. And Van Ek is amazing to me that you get one ETF approved after so much time. Then you get a second one. Here you go. Here's another one approved. But unfortunately, just like was said, second one might just be not too great. But it is good to see because we have that's two futures ETF, which means maybe a spot ETF is right around the corner and grayscale just applied for a spot ETF two days ago. So we'll see how this works out. Van Ek will join ProShares in launching a Bitcoin ETF next week. Company revealed it had secure as filings. And this indicated SEC has given the company permission to launch its fund after October 23rd to Saturday. So if you're Van Ek, I hate to say this, but it does kind of suck. If you're Van Ek and you're like, man, look at this volume, we could have been there. We just were just a little bit off because who knows? Maybe ProShares has got some good relationships with good old Gary Gensler. Don't sue me. Maybe that's it. Maybe it's something else. But it's a bummer for Van Ek, but it's good for us because a second ETF gets approved. It'll be more talked about in the public. People will say, I think this is safe. They can get into it. Oh, and then, oh, by the way, if they take a look at the historical charts as far as like the Bitcoin appreciation, best performing assets, asset class of all time, or at least the last last 10 years. And I think it could do pretty well. So I want you to think about that in the comments. It's a bummer for Van Ek. What are you going to do? And this leads me to my last point about Russia. And I had been talking about this before and I thought, why wouldn't countries get away from sanctions from the United States, especially with the US dollar reserve currency when they can just use cryptocurrency? Well, now Russia had already been hinting to that. Now that might actually happen. So this is a mid ongoing sanctions. US loves that. The government of Russia has been working to limit the country's dependence on the US dollar. The Ministry of Foreign Affairs now says it's possible to partially replace the greenback in currency reserves and trade settlements with other currencies, even digital assets in the future. In its effort to counter the negative effects of expanding US sanctions, the Russian Federation is putting an emphasis on de-dollarization and the rest of it just kind of goes over the same song and dance. But here's the thing. If somebody from the Russian government, Ministry, comes out and says, you know what? We're thinking about replacing the US dollar because we're sick of these sanctions. We're sick of it having to rely on this all the way around. Why couldn't they just get out of out from underneath the US's thumb and just go, you know, we're just going to go someplace else? It's working pretty well for Central America. Let's see how it works out over here. And if people are going to be using it, why not us? So this could change the landscape and it could also cause a very heated accumulation for not just Bitcoin or other digital assets. And that's what we got. So look, I know there's a lot of things going on and it's a great day, but don't lose your head. You know, these are the days that we live for. And I think there's more on the horizon. Me personally, I just wanted to sit back kind of see how things went. I'm a pretty reserved person. But now I think we're kind of over that hump. We'll see how it goes in the next couple of days. But we're off to the right start. I can feel pretty good, especially for a bull run towards the end of the year, maybe in the January, February. But that's it. So look, if you made all the way to the end, first I want to say thanks. I appreciate you guys sticking with me. Also consider subscribing, give it a thumbs up, all that good stuff. And that's it for today. And I'll see you in the next one.