To The Moon

As we heard from the news, companies seeking to launch physical Bitcoin exchange-traded funds (ETFs) last week cleared a major hurdle in gaining U.S. regulatory approval in the coming days.

SEC staff told multiple exchanges and issuers seeking to launch ETFs that they should submit a final version of a key document as early as Friday. Staff provided no additional feedback on several of the companies' paperwork after the latest revisions were made.

The documents, known as 19b-4, provide recommendations for changing stock exchange rules to allow ETFs to be listed and traded.

The SEC is expected to vote on exchange rules documents next week. Approval of ETFs can generally be delegated to SEC staff without requiring a committee vote. It is unclear whether SEC staff will have no additional feedback on all companies' 19b-4 filings.

The issuer also needs the SEC to approve the final version of its S-1 filing. The SEC may or may not approve both Form 19b-4 and Form S-1, but usually the S-1 is approved after the 19b-4. If both documents are approved, the relevant ETFs could begin trading as early as the next business day.

Personally, at this stage, I believe the approval of Bitcoin ETF is just a matter a time. Once confirmed, it will send crypto related counters to the moon. For this reason, I am bullish for crypto related stocks specially on $Coinbase Global, Inc.(COIN)$ . 

Bitcoin ETF

Although it is not directly related, but usually once the market gets hot with crypto maniac, usually there will be a tendency for market to party with meme stocks as the market sentiment is very bullish. For meme stocks with high price volatility yet high risk, I have $Faraday Future Intelligent Electric Inc.(FFIE)$  $AMC Entertainment(AMC)$  $Roblox Corporation(RBLX)$  $Sea Ltd(SE)$  in my watchlist. Let's wait for the market to party. How do you think?

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