Toby from Crypto Tips posted a 5 minute YouTube video today giving 2 reasons he thinks the US SEC dropped its ETH investigation.
Before he got into that, Toby talked about historical Bitcoin price performance in June of a US Presidential election year. With only 3 past data points he says Bitcoin goes UP in these situations. Bitcoin started June at 67.67K and is now 65.11K so maybe this price rise will not happen a 4th time? We have a few weeks to see if BTC does go up this June.
Then Toby talked about residential mortgage securities being in a half trillion dollar loss currently. He thinks people are buying Bitcoin because the conventional financial system is so messed up.
Finally Toby talks about the SEC and Ethereum.He reads a tweet from Cointelegraph reporting that investment firm Pantara Capital Management is interested in purchasing up to $100 Million of shares in an Ethereum ETF. Then he read a notice that the SEC permanently suspended its investigation into Ethereum. He said the chief of the SEC crypto division just resigned. And they said sales of Ethereum are not securities transactions. Toby thinks the biggest reason the SEC backed off is because Blackrock decided to apply for a Spot Ethereum ETF.
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