TL;DR

• Hester Peirce (aka ‘Crypto Mom’) spoke about a potential spot BTC ETF on CNBC yesterday morning.

• She said this about a potential BTC ETF on CNBC: “I've been thinking we should approve one for the last five years...So, the logic for why we haven’t has always mystified me.”

• This narrative has added roughly $50B to Bitcoin's ​market cap​ in the past week (see header image ☝️).

Full Story

Stocks, cryptocurrencies - hell, entire market segments...

They can live and die by narratives.

And boy is there a strong narrative forming in the crypto space!

One that is firmly centered around the potential approval of a spot Bitcoin ETF.

(Aka: a fund that would allow stock traders to buy Bitcoin via the US stock market, which would bring a whooole bunch of new money into crypto).

Here's the news that pushed the narrative into hyperdrive, since yesterday:

Crypto Mom spoke.

More specifically, Hester Peirce spoke about a potential spot BTC ETF on CNBC yesterday morning.

Here's what you need to know about Hester (aka 'Crypto Mom'):

• She's a member of the SEC.

• She's publicly pro-crypto and ​blockchain​ tech.

• She has spoken out against the SEC's anti-crypto stance.

...and yesterday, Hester said this about a potential BTC ETF on CNBC:

“I've been thinking we should approve one for the last five years...

So, the logic for why we haven’t has always mystified me.”

Here's the math on all of that:

Long held conviction voiced from a representative of the government agency responsible for approving/denying BTC ETFs.

+

Industry whispers of such an ETF 'nearing approval' over the past week or so.

=

Enough of a narrative to add roughly $50B to Bitcoin's ​market cap​ in the past week (see header image ☝️).

Is this narrative founded/unfounded?

​No idea!​ All we know is: it's affecting the market either way.