- Weekly Axis - December 30, 2023
Weekly Axis - December 30, 2023
Year End - More 2024 Predictions
The Year End Edition. More ETF Watching.
More ETF watching this week, but now it’s getting really fun. Yesterday, most of the players came in with their final applications, after the SEC laid out for the what would need to be included.
We’ll also hit a couple more Bitwise Predictions for 2024, and a Deep Dive into another NFT topic
We’ve already seen fee competition, with Galaxy coming in with no fees for the first 6 months and $5 billion AUM.
Invesco/Galaxy is in and here's a whopper: it will be waiving fee for first six months AND for first $5b in assets, APs named as well, Virtu and JPMorgan (again lol). Another horse in. Are we having fun yet?
— Eric Balchunas (@EricBalchunas)
Dec 29, 2023
So the Bitcoin Spot ETF is going to be approved in a few weeks.
We’ll also hit several more of the Bitwise ETF predictions this week for you.
In 2024... Bitcoin will set a new all-time high, the spot bitcoin ETF will be the most successful ETF launch of all time, Coinbase’s revenue will double, and more…
Here are 10 Crypto Predictions for 2024 by the team at @BitwiseInvest
— Ryan Rasmussen (@RasterlyRock)
Dec 13, 2023
Are you ready for the Spot ETFs? Do you know what conversations you’ll have with your clients?
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Axis News Updates
📉Stablecoins to Overtake Visa? Exploring the Bitwise Prediction for 2024
🔮 2024: The Year of the Stablecoin
The Bitwise team, led by Ryan Rasmus, predicts that by 2024, stablecoins will surpass Visa in terms of money settled. Imagine that! Stablecoins, which have already grown from zero to a $137 billion market, are set to become the go-to for transactions.
🔍 Why This Matters to You and Your Clients
The reason behind this shift? An exponential increase in stablecoin transactions. Big players like Visa and PayPal are already integrating stablecoins, recognizing their benefits like instant settlement and lower transaction fees. This isn't just about DeFi enthusiasts anymore; it's going mainstream, and your clients need to be ready for it.
🌍 Global Transactions Made Simple
Consider the implications for international transactions. Stablecoins are a game-changer, especially in countries with volatile currencies. They offer stability and ease, something we've all been craving in the financial world. Plus, companies like Coinbase are making stablecoin transactions as easy as sending a text.
💼 Advising Clients in a Stablecoin World
As financial advisors, this is an important shift. Our clients will increasingly deal with stablecoins, whether they're sending money overseas, receiving payments, or making everyday purchases. They'll look to us for guidance on using digital wallets, understanding the risks, and navigating this new digital currency landscape.
📈 The Ripple Effect on Market Values
Here's where it gets even more interesting for us: The rise in stablecoin transactions will impact the value of various blockchain networks. Remember, more transactions on Ethereum, Polygon, or Solana can mean demand for their native tokens, and possible price moves
👩💼 Your Role as a Financial Advisor
Your role is about to get even more vital. You'll need to educate your clients about stablecoins, help them with security and wallet setup, and advise them on how to balance traditional and digital assets. Plus, you'll need to keep a pulse on how this shift affects the broader financial market.
Bitwise Prediction 7 - Taylor Swift will Launch an NFT Project - but not like you think
This was a fun prediction from Ryan and the Bitwise Team - Taylor Swift will launch an NFT
Taylor Swift and NFTs - More Than Just Music
Picture this: Taylor Swift, the most streamed artist on Spotify in 2023, launching her own NFTs. It's not just about the music anymore. It's about a new way to connect with fans. Spotify is already experimenting with token-gated playlists. Imagine needing a specific NFT to listen to certain tracks. This move by Swift could bring a massive adoption wave to the NFT space. Why? Simply because of her enormous influence.
Beyond the Glam - The Real Deal with NFTs
But here's where it gets even more interesting. It's not just about fandom anymore. It's about real, tangible value. NFTs are stepping beyond the realm of fads and collectibles. We're talking about leveraging them for intellectual property and royalties.
Take the Bored Apes or CryptoPunks, for example. Owning these NFTs could mean getting a share of the revenue if they're used in a cartoon or a series. It's an investment with potential income streams.
What This Means for You, the Financial Advisor
As financial advisors, this opens up a whole new avenue of opportunities and challenges. Imagine your clients owning NFTs that not only offer unique experiences but also act as potential income sources. This shift could redefine how we view memberships and exclusivity in the digital asset space.
The Implications Are Huge
This isn't just limited to music. We're looking at a future where sports teams, airlines, and even coffee giants like Starbucks could use NFTs in their loyalty programs. The implications are massive. As a financial advisor, understanding the value and security of these digital assets becomes crucial.
Your role could evolve into advising clients on NFT investments, understanding the associated risks, and even helping them navigate the secondary market for these tokens.
2024 is going to be a banner year for crypto and blockchain adoption, so we’re glad you’re here to get ready for it and help your clients.
Happy New Year!
-Adam and Ron